26th Aug 2007, by Andrew Barr

10 Yetis Notices Sub Prime Market is in a Mess in Oz as well

Further evidence that there is a potential economic downturn heading our way.

In America (as I have mentioned) there is the problem that people who cannot afford mortgages are being given huge ones and cannot pay them off.

Now Standard and Poor's (corporate credit rating agency) has announced that the Sub Prime market in Oz land is at its highest ever default level as well. Eek!

Oz Hat
Corking Time to buy cheaper shares?

Share prices across the globe are in decline and generally this is the start of a tricky time for the economy.

I know this is an incredibly dull post but in the grand scheme of things it is fairly important for SME owners to take note of this.

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