Over the past 5 years money hase been so cheap to buy. You could get a 200K loan with a packet of crisps! Now it's payback time. Interest free periods or stupid 3.5% rates anre coming back to bite some backsides.
Since Christmas I have notice a massive downturn in general business. Last sunday I had lunch with a director of a large restaurant chain, he said the same. So much so they have just reacted and changed the menus to incorporate much cheaper items.
My neighbour but one ownes a chain of electrical stores and he says the same. He has a warehouse of stuff he can't move.
One of my businesses target markets is home owners/generally the 'mature buyer' (not the ipod gerneration!) and that has been hit the hardest. Sales are down 50% on this time last year.
I could go on all day with examples. One thing is all the above is just the tip of the iceburg. As I said before, those who are strapped up to the eyeballs are going to feel the pinch the worst.