Link: BBC NEWS | Business | Darling warns of economic crisis.
I have to admit that I'm in total denial about this. I reckon that if I stick my head in the sand it won't affect me. And then there's this other, little, part of me that thinks...actually, this could end up being a total nightmare. What happens when my mortgage deal runs out. I am sure that my present mortgagees HMG trading as Northern Rock will try to deter me with a massive hike in rates. Suppose my house value falls below the outstanding mortgage. Suppose interest rates go up to double digits and higher.
And then I just deny it.
