22 January 2008
Graham Clifford of Online Casino Press writes:
"Economists on both sides of the Atlantic were warning today that the frenzy witnessed at stock markets across the world could have a devastating knock on effect for industries such as gambling.
The US Federal Reserve cut interest rates today by three quarters of a percentage point in a surprise bid to stave off what many see as an inevitable recession in the world's largest super power.
The last time the Fed cut rates as much as three-quarters of a percentage point was in August 1982, almost 26 years ago.
And the fear is that as inflation increases in the U.S disposable income, which is used by many to gamble, dwindles."