Main street already feeling Wall Street pinch

Posted on: September 29, 2008

The Globe and Mail reports U.S. consumer spending is down. Expect that to go down further as the credit crunch tightens. A report from the Minneapolis-St. Paul Star Tribune says consumers will be more frugal this Christmas.

The credit crunch hitting main street is not a phenomenon isolated to the United States. Here is a report from the U.K. on Christmas plans there following a “study of 3,000 consumers”.

Europe is also having its own bank trouble with two banking giants nationalized today, one in whole, one in part.

The London interbank offered rate, or Libor, remains up. The Libor could be called the Fear Factor. It is an indication of how eager banks are to lend to each other. Not very. What’s the Libor and what does it indicate? Click here.Now a link to a Financial Post story, on the concerns of tightening credit combined with reduced consumer spending. It’s headlined, Hunker down it’s only going to get uglier.

Maybe cooking blogs will be more popular. In Canada, restaurant sales are down- except in Alberta, it seems. Click here for that story.


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  • wordbeeps: No, he doesn't deserve an apology. Who tweets during a funeral? If you do, expect feedback. I didn't say the mourners were faking it. I think they we
  • Holly Stick: Look you fuckwit, are you too stupid to realise that Ghomeshi was an actual friend of Layton's, when you tweeted to him that the mourners were faking
  • aardvarkcola: Thank you. I see the rest of your message now. i'm honoured to to have your words on my blog. That alone is a delight. Lawrence


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