September 22nd, 2008
How The Credit Crunch Impacts You
The current global economic downturn and credit crunch is sending shockwaves through the business world but what impact does it have on consumers? The impacts may be far more wide reaching that you might of thought.
There is a saying among economists, “When America sneezes, the world catches a cold”. This means that if the US experiences an economic downturn then so does the rest of the world. This saying certainly seems true at current times with the ongoing global credit crunch which started with sub-prime mortgage lender issues in the US. You’ve no doubt been hearing about the crunch and the huge figures wiped off the stock markets but what does it really mean to the typical individual?