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08-27-2009, 08:17 PM #1
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Summer recovery will turn to a long cold winter
From The Times
August 26, 2009
Summer recovery will turn to a cold winter
The markets are rallying and confidence is returning, but don’t be fooled: there can be only hard economic times ahead
Ruth Lea
Market sentiment has in the past few months gone from bearish to bullish as pundits have declared the end of recession. The mood has gone from deep despair to extraordinary elation — this week marked the biggest six-month rally in world share prices for 50 years — as good news takes centre stage and bad news is consigned to the wings.
For example, last week’s comments by the Chairman of the Federal Reserve were interpreted with such partiality. Ben Bernanke’s statement that the US was “beginning to emergeâ€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
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