From The Economist print edition
DEPRIVE a person of oxygen and he will turn blue, collapse and eventually die. Deprive economies of credit and a similar process kicks in. As the financial crisis has broadened and intensified, the global economy has begun to suffocate. That is why the world’s central banks have been administering emergency measures, including a round of co-ordinated interest-rate cuts on Wednesday October 8th. With luck they will prevent catastrophe. They are unlikely to avert a global recession.
The rich world’s economies were either shrinking, or close to it, long before September. Recent weeks have made a rich-world recession all but inevitable
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1 comment:
there is an old saying there is a hill after a valley , welll after couple of years we can expect a ecnomic boom , companies and individuals will learn how to control budgets and will forget them once the ecnomy is robust
one rule about human being is that he tend to learn from mistakes but tend to forget it with time and repeat them again
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