Credit Woes Continues
Northern Rock, the eighth-largest UK listed bank, is looking for a bail-out from the Bank of England, thanks in large part to the world-wide credit squeeze.
Oil has hit a new record high, and the US dollar is at a new record low, making imports to the US more costly.
All this among signs that consumers are becoming more cautious and small businesses are hunkering down for economic trouble ahead. They're probably the smart ones.
