Friday the 13th: Jason meets Credit crunch.

This is very scary stuff, donno since 'exorcist' when did i get so scared.This is what the NY Fed Gov has to say.

The story of Britain

Unlike US which saw a recession around 2001, after 11 consecutive years of growth; UK hasnt seen a recession in a decade & a half. For the last 15 years Britain has seen rising house prices & low unemployment figures. Though there have been recent concerns about whether the party may end this year. There has been news that the new financial capital of the world; "the city " may soon see job loss of the magnitude never seen before. Northern Wreck...oops. Rock, is not the only casualty . Unfortunately unlike American financial institutions, European banks have not received liquidity injections from the Arabs & the Chinese (UBS is an exception). I bet few years from now, it is the British banks who would have suffered the most from the sub prime crisis.

Here comes the hotstepper

They say every time recession hits USA it is preceded by a yield curve inversion, . And when a recession does occur, an inversion happens between .5 to 1.5 years beforehand. Where is it in case of this recession?