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Could The Credit Crunch Happen Again?

As the havoc which the US based credit crunch has caused is laid bear for all to see many people are starting to ask if the same situation could happen again? Or have we learnt our lesson?

The truthful answer is that a similar credit crunch could happen again in the future if and when financial institutions attempt to squeeze every dollar out of the market. The blame cannot be laid solely at the door of the US because many non-US companies have substantial exposure to the US property market and were just as much to blame as anyone. The simple fact is that while Gordon Brown once famously suggested he had cracked the boom and bust scenario, fear and greed are all around us, but when they get out of balance there can be major problems.

That said it is easy to forget that the rise in the price of oil has also been a major factor in the faltering performance of many economies around the world. This has exaggerated the affects of the credit crunch and looks set to ensure that this period of uncertainty lasts for much longer than anyone had even considered.

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