A Financial dissater or a catharsis?
By: Myles, September 17th, 2008
Gerald Baker of the TimesOnline puts a very interesting spin on the recent financial events, which have dominoed. In Bakers article, Crisis may prove cathartic in the long run, but the worst is not over, he states that:
Yesterday a couple of the world’s most famous financial institutions sank without a trace, one of the world’s largest insurance companies struggled to stay above the waves and companies around the globe saw billions of pounds, dollars and euros wiped from their market values. But did anything important happen?
Baker draws the following, interesting, conclusion:
The irony is that yesterday’s traumatic events may prove cathartic for financial markets; the necessary and painful adjustments to an unsettling new reality. For everybody else, unfortunately, catharsis seems some way off.
Read the full article which is chocked full of interesting facts and a fantastic recent financial history of where the U.S. has been, starting with the crash of 1987 and moving through the past 21 years.
The $64 Trillion Dollar question is … Will history repeat itself? For all of our sake, lets surely hope so!!!
Tags: Current State of Affairs
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