Tuesday, September 16, 2008
Soft Landing ???? No Chance !!
This must be the turning point in the global financial crisis – "must" in the sense that, if there are greater financial collapses in the coming weeks, then the world economy itself really will be threatened. However the downward swing of the real economy has only just begun and, while there are still good reasons to believe that it will not be as deep as that of the 1980s or 1990s, the recovery is likely to be a very drawn-out affair, one made more protracted by the events of the weekend.