The US election draws closer and the global media has something more interesting to focus upon rather than the travails of the global banking system. It has been a lot worse than I thought it would be with the major economies nosing into a recession which varies from the mild (US) to the deep (Europe) to the oh, no here we go again (Japan). Unfortunately we had reached that stage in the economic cycle where the major economies were set to slow anyway. However, the chronic lack of credit has poured heavy cement into the markets and it may be some time before we chip our way out.
There is however one ray of hope and no, its not the thought that Obama will be the next President (the US Supreme Court willing). I suspect he will win it but its a 60:40 call at the moment. No, the real ray of hope is that recessions offer huge opportunity to the savvy and the brave. Now is the time of think about investing your mite's in the future. Assets from property to equities are beginning to look very cheap. Labour costs are now starting to come down and people are willing to sweat for a living. Remember, the sky is at its darkest just before the dawn and in calling the turn remember also that when people tells us its the end of the world as we know it that is the point when things can only get better.
1 comment:
Professor, put bluntly, the United States engineered the crisis to slow the fast growth of the third world (Russia, Brazil, China). A conspiracy theory heard ofteh here in Russia, and other CIS countries. Is that even theoretically possible in your view?
Respectfully,
Ruslan Osmanov
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