Yet another slump today on the markets. It’s getting more than a bit worrying.
The trouble is the traders are worried about the state of the banks – but THEIR STILL BETTING on whether they fail or not. How is that intelligent.. really?
And the government is as bad: dragging it’s heels waiting for the rest of Europe to do something so that they are forced to do the same. Even Germany are being non-commitall over their rescue package!
GB and Darling have to do something now, today, this week. Whats the point in letting it run away from us whilst still praying things will recover. It wont because the traders wont let itÂ (simply through stupidity and greed)! At some point there has to be a rescue and better now than 3 months down the line.
The pound is already incredibly weak due to all that gold beign sold off – so if we are a bit slow with the rescue package we could actually see a run on the entire currency. The yhave to get in quic, set and example and shore up the British economy. In the long run it could have positive impact because we shoul emerge with a stronger economoy *faster* than the rest of Europe.
With a clever rescue package the govt. could costthe tax payer now BUT make more money back in the near future to spend on tax breaks. Of course they won’t because the general populous is to thick to understand the concept of economy and just see their money being nicked to shore up big-wig banks (which is in effect what happens – but they dont lose out in the long term!).