Saturday, October 11, 2008

Hurricane Coming?

Image representing Robert Scoble as depicted i...Image via CrunchBaseThe global economy continues to look uncertain even with the Government's bail-out package trying to halt the decline and restore confidence in the market. It's looking increasingly like we are on the verge of a global recession as markets are in freefall.

By lunchtime the FTSE 100 was down 332 points at 3981.8, losing £105 billion in value at a rate of £250 million a second. This was on the back of overnight losses on Wall Street and in Asia. London City workers today warned that the financial crisis will get worse before it gets better.

Robert Scoble has a good post that reflects the situation well titled “Sky isn’t falling” blogger says. He sees this
this like a hurricane moving across our economy, and that what happens in a storm? Some trees topple. Some stand tall. I like this analogy, no one knows what the full extent of the current situation will be but we need to be vigilant.

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