Northern Rock Contagion, the Wheels are Coming Off
Buy-to-let lender Paragon Group
, slumped 36% yesterday, plummeting for a second day, making the stock down 68% in the past month. Sub-prime fall out is spreading…
Every week 2,000 people go bust, triple the rate during 1991 recession.
Home affordability is at a historic low.
Brown’s supposedly successful stewardship of the economy was based on “debt and mirrors“.
The wheels are coming off the economy, Alan Greenspan himself, recently appointed by Gordon Brown as his economic adviser, says “Britain is more exposed than the United States.”