Into a slump

Economist by Editors | Oct. 25, 2008 (News Analysis)

It is startling how quickly and savagely the global credit crunch is morphing into a full-blown economic crisis. Stockmarkets in Germany, Britain and France fell by some 10% in early trading on Friday October 24th, in response to an overnight sell-off in Asia and dreadful economic figures from Britain and the euro area. Britain’s economy contracted by 0.5% (an annualised rate of 2%) in the third quarter, according to a preliminary estimate. The drop, far ... Full Story »

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Fabrice Florin
3.8
 by Fabrice Florin - Oct. 25, 2008

Good overview of the latest economic news and how they affected markets worldwide. The article provides a good explanation of why so many investors are re-investing their funds in Japan and the U.S., for very different reasons: Japan because it's the "biggest creditor nation", with more trade surpluses than other nations; the U.S. because "its bond markets are the most liquid in the world", and assets can be converted back to cash quickly. An insightful read about an important topic.

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