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# It means that the LIBID (London Interbank Bid Rate )
is too high. No bank will lend another any money, credit dries up and money stops sloshing about the system.
That's the 'Credit Crunch'. Credit being stopped and you need money to make money. Northern rock wasn’t that fucked; but as soon as there was a run on the bank it all went tits up. This happened around the same time as the CDO crash. If the credit market would open up things would get better sooner. But you'd be stupid to lend to someone who may go tits up at any mo. Cos they need credit :)
(waxdart hello., Mon 27 Apr 2009, 12:26, archived)
# I am aware of all this.
But that's no longer the case. Credit Crunch has gone on to mean recession.
(I helped save b3ta! riverghost servicing your mum since, Mon 27 Apr 2009, 12:30, archived)
# There is no recession.
keep on saying that.

There is no recession.

There is no recession.

There is no recession.

Is it true yet?
(waxdart hello., Mon 27 Apr 2009, 12:31, archived)
# The credit crunch caused the recession
(I helped save b3ta! Barbarossa is not my real name, Mon 27 Apr 2009, 12:33, archived)
# no, this isn't right either
The credit crunch and the recession are two different things, and each one fueled and exacerbated the other.
(I helped save b3ta! Wasp Box like a nervous random stranger at a glory hole, Mon 27 Apr 2009, 12:46, archived)
# The credit crunch causes
arse-cancer. FACT.
(I helped save b3ta! Smallbrainfield, Mon 27 Apr 2009, 12:49, archived)
# Arse-cancer fuels Swine Fever
FACT.
(I helped save b3ta! Wasp Box like a nervous random stranger at a glory hole, Mon 27 Apr 2009, 12:51, archived)
# Somehow we're back to Mexicans
(I helped save b3ta! Smallbrainfield, Mon 27 Apr 2009, 12:54, archived)
# What a pair of no-good bums they are!
Not an ashtray in sight...
(I helped save b3ta! Shazzoir Old enough to know better young enough not to care, Mon 27 Apr 2009, 13:16, archived)
# hahaha
delights
(I helped save b3ta! Elvis impersonator, Mon 27 Apr 2009, 14:45, archived)
# "credit crunch"
The people who lent money to others to buy goods and houses, suddenly stopped lending that money and have spent it themselves (buying gold and oil etc)
Mainly the Chinese and Russian Govts and middle eastern oil states
(I helped save b3ta! CanonCaliber A big bore, Mon 27 Apr 2009, 12:53, archived)
# Add into that - they spent profit they never made.
(waxdart hello., Mon 27 Apr 2009, 13:14, archived)