Well, that is what people said until the credit boom boiled over.

In the rest of the world, there is little indication of a credit boom.

"We're sort of unwinding the great postwar credit boom," he said.

That is half the gap of last fall and closer to the average of 0.34 percentage point in the credit boom from 1998 to 2000.

Because the banks are bankrupt there will be no credit boom to get the economy going, that's what happened in the 1980s.

By the beginning of the 21st century, Iceland had come to epitomise the global credit boom.

But financial analysts say the end of the credit boom has blown the market apart.

It did not take part in the global credit boom, acting as a counterweight to excess.

Conservative management of the economy has stoked the biggest credit boom in Britain's history.

The effect, however, may have been to fuel a runaway credit boom.