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Sunday, 5 October 2008

Rescue package and the bottom of the cycle

So the rescue package has been passed in Washington and $700bn is ready to be spent buying up "bad" debt in an attempt to put a stop to the current financial market turmoil.

Whether it will work is by no means certain, however, it one thing it should do is help to bring some optimism into the markets. Without this financial markets will remain in a state of paralysis for a very long time and banks would continue to refuse to lend to one another.

So perhaps this will be a turning point in the markets. There is much pain still to come and it is very possible that things won't get back to normal for a few years, but glimmers of hope should be clung on to as they can be the making of economic recovery.

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posted by Carl Malways at

2 Comments:

Anonymous Simon said...

I think you were a bit early with forecasting the bottom on this one. We went through at least another week of extreme volatility before the major government actions in Europe, Britain and the US started to settle things down.

Looks like its going to be a long road back to normality.

22 October 2008 17:44

 
Anonymous Andrew said...

A long road, but not necessarily a terrible one. I think we needed some kind of slow down.. things were moving too fast and too unregulated. It's a time for regulation to be rought back.

9 November 2008 02:20

 

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