Dies jedenfalls ist die Meinung von Bob Wood, der als einer derjenigen gilt, der das sich nun abspielende Desaster in England als einsamer Rufer in der Wüste schon seit längerem hat heraufdämmern sehen. Er glaubt, die extreme Abhängigkeit der englischen Wirtschaft[ von Konsum-,Hypotheken- und Schuldderivaten müsse unweigerlich zu einer merklichen Abkühlung der UK-Wirtschaft führen:
Housing market crisis for UK suggests Christopher Wood
By Mark Kleinman, in Hong Kong
Last Updated: 1:08am BST 18/09/2007
The analyst credited with predicting the collapse of the United States sub-prime mortgage market warned yesterday that the Northern Rock crisis was "just the beginning" of Britain's exposure to the unwinding of the structured credit industry.
Christopher Wood, a managing director at CLSA, the Asia-focused brokerage, told The Daily Telegraph that the British economy was at particularly grave risk from the turmoil in the world's financial markets because of its relative reliance on the City as its growth engine.
"The UK economy is heading for a sharp shock," he said. "It is based on the City of London, the housing market and sub-prime consumer lending. While the UK probably won't suffer on sub-prime to the same extent as the US, a real downturn in Britain's housing market seems to be inevitable."
"It is amazing that the Bank of England has felt it necessary to come to the rescue of an institution that had been run in such a reckless fashion". Northern Rock's balance sheet, he wrote, "would not disgrace a Thai finance company prior to the Asian Crisis" of 1997.
http://www.telegraph.co.uk/mon…/2007/09/18/ccwood118.xml
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