There will be recriminations from this.If you were to name one...

There will be recriminations from this.

If you were to name one main factor in this demise

Blame RUDD

By spending like a drunken sailor with borrowed money he has artificially caused interest rates to skyrocket.

Look at the rest of the world. We currently have the highest rates of any developed nation.

These raises have killed spending and hastened Clive Peeters demise. They were so close to trading there way of their problems but retail land has been very quiet in the last three months. The banks as usual stuck the knife in.

Threat of even higher interest rates is to blame for this drop in consumer spending. STOP SPENDING MONEY WE DONT HAVE RUDD.