Recent content by miner

Kenneth I think there are three obvious ways we will have impacts. The first and direct one is higher cost of credit. Given that in the last month our nominal GDP increased from $1045.708Bn by $6.952Bn, and our private debt increased from $1703.964Bn by $18.714Bn, any higher cost of us...

An interesting website where the blogger has done research on the amount of "unreliably valued" assets (level 3 assets) several of the major banks in the USA have as a percentage of their equity. http://www.rgemonitor.com/blog/roubini/224871/ worst ones are Goldman Sachs, Level 3...

I'd be less worried about the credit crunch impacting on the real economiy if the increase in debt had been utilised to increase capacity, rather than funding increased consumption (only approx 30% of finance for mortgages goes to investors) through more expensive existing houses (only approx...