“When we came in to work today, the futures market was telling us the world was about to end,” said Sid Mokhtari, a market technician at CIBC World Markets Inc. “In the end, we managed to hang in there relatively okay. But sellers still have the upper hand, and we're still searching for a bottom.”
Where that bottom is, no one really knows. As country after country announces it is expecting, or already experiencing, a recession, it is becoming clear that this is no fleeting panic.
“This is a once-in-a-lifetime crisis, and possibly the largest financial crisis of its kind in human history,” said Bank of England deputy governor Charles Bean. “In terms of impact on the real economy we are still early days.”
With a speed that is taking everyone's breath away, the world has gone in a few short weeks from credit crunch to credit crisis to global financial meltdown and now to full-blown economic emergency.
An excerpt from a RoB article.
2 comments:
After Summer, Monsoon and after that: WINTER.
Also called RECESSION.
I guess somewhere a lot of pple feel pleasure subconsciously on the constant drummings of such words. Haven't we all been told that good times never last? or Its too good to be true...
Maybe this is taking a frivolous view of a serious global event but then its 3.02 am here,
and Bhai, i am a meltdown happening in my mind reg. Civil Procedure Code, to the extent of using some very un-civil adjectives for it.
And ya bhai, typing with the sandbags on the left side of the touchpad of the lappy, coz otherwise it freezes.
Sorry to pollute the sanctity of your blog by leaving a mail in place of a comment.
Read this somewhere bhai:
What worries me most about the Recent Credit Crunch is if my cheque is returned with a remark "Insufficient Funds", I'll not know whether it refers to me or the Bank.
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