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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 Links to this post