The “Credit Crunch”

Now this is more topical – the “Credit Crunch”. I’ve always thought GMTV (breakfast TV) made up this name for what started off as a panic to change utility providers because of price rises in gas, electricity and oil. Or was just started by oil. Anyway, they had Martin Lewis from savingmoneyexpert.com on there banging on about switching providers NOW or you will pay lots more, blah blah. That is how it started, then he moved on to the Northern Rock fiasco and everyone was taking their savings out of the bank (now it’s one of the safest places to have your money in!). It just escalated from there, well that’s what it seemed like and the majority of people who watch breakfast TV are unemployed, stay at home mums and Sun readers so this caused wide spread panic. So I actually think it was GMTV who started the “Credit Crunch” and stopped people from going on holidays, going out, buying and selling houses etc. Banks have gone bust, travel companies have gone bust and the housing market is in crisis and first time buyers are having problems getting mortgages. But this is my opinion and sure it’s not like this at all. I really should read the FT more often.

I will write more about this on another occasion but too busy chatting about music (lots of rock music) with a friend while drinking cocktails – well it is a Friday night!

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