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eric pebble

Guardian: Fed Awakes To Another Bubble Bursting: "-quite Amazing

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"Now that he is head of the bank's Asian operation, he seems to have made up his mind: central banks, obsessed by inflation targets, have been "asleep at the switch", thinks Roach, and a global credit crunch could be "a grave threat" to the world's financial systems.

So it is hardly reassuring to hear Henry Paulson, the US Treasury secretary, say that there is no quick fix to the problems in the credit markets. Paulson is stating the obvious, but it is quite amazing how rapidly the official reading of events is changing."

"As for buying the shares now, well, that's a gamble. Housebuilders are easy stocks to sell when fear is in the air. Persimmon could get cheaper yet."

Doesn't look good at all.... :(:blink:


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