Abandon hope, all ye who enter?
Dante begins the Divine Comedy by taking a journey though the rings of hell. By contract, Winston Churchill had healthier attitude about hell when he said: “When you’re going through hell, keep going.” These days can seem like we’re closer to Dante but what we need is Churchill.
As over the past several years, and for the foreseeable future, the global economy overall, and markets in particular will remain uncertain and volatile. On the economic front, the U.S.government continues to try measures to stimulate the economy, in the context of a seeming paralysis between the executive and the Congress. The situation in Europe is working towards a bailout, but bailout represent interim saving measures rather than overall solutions. Economists are somewhat baffled as to what course will in fact work. Added to this are situations such as the UBS crisis, further eroding confidence when financial markets were under the impression that systemic risk had been somewhat addressed.
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