Politics - Monday, October 6, 2008 14:17 - 2 Comments

Credit Illness – Not Crunch!

Interesting how the media says that 96% of people have less than £35,000 in their cash savings. The media play this as if the problem lies with the 4% who have this or more in cash savings. When you hear the media talk about the majority – be warned – that is surely where the problem comes from! The Credit Crunch came about mainly because there is insufficient liquidity around. So despite making sure they have at least £35,000 in cash savings – it is those who have saved the most that are facing the loss of their savings. After all, with no savings you have no savings to lose! Continue…