[The once and future king]

In a nutshell.

Money has become more expensive.

We have gone from a very cheap money environment to a more expensive money environment. Virtually all credit is now more expensive and central bank intervention into interest rates wont effect that to much as there is at present no trust in the banking system because no one knows who exactly is holding the toxic waste debt. Therefore commercial rates of money costs will remain high to reflect the perceived risk of lending.

Increased cost of money will undoubtedly have some "negative" effect on the economy.