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Given the National Accounts do not record a measure of "superficial growth", presumably Stone means the economy did not experience a recession. On every other measure, however, Stone claims the.

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The property market collapses that swept the US, then the UK and Europe rippled through credit. variable rate loans, issued over 25- and 30-year terms. At some stage during the next two decades,

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With interest rates at record lows and banks again accessing securitisation and wholesale debt markets to import cash, the frenzied buying shows. Defaults on home loans would rise. And our banks.

And the government will provide around £10bn of new taxpayer loans to the Rock so that it can start providing. rather than the shamed victim of the credit bubble that turned to crunch.

His refusal to flood the banking system with cash over the past few weeks is the cause of the. s refusal to effectively subsidise the deal by providing guaranteed credit to finance Northern Rock’s.