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Gold/Mining/Energy : Big Dog's Boom Boom Room

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From: Kayaker9/20/2008 12:45:21 PM
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Decades of greed and hubris. A week of shock and panic. But what comes next?

By Peter Koenig
Last Updated: 8:17pm BST 19/09/2008

....This week, the fight to avoid that fate hung in the balance. Hank Paulson has taken his calculated gamble, and the markets seem to have rebounded somewhat. The panic subsided a fraction. But what’s still not clear is whether we’re going to be let down gently, or suffer more bank collapses and other shocks.

“My wife asked me last night where things go from here, and I told her I didn’t have a clue,” Michael Marks says. “She said ‘You always have a view. What’s happened?” Marks suggests that people ignore Friday’s relief rally in the stock markets: it’s overdone.

“The best thing would be for people to stay home next week. Avoid making investment decisions. Wait a while and review the situation with a cold eye. An end to financial shocks, if it is the end, doesn’t mean the downturn is over. There are deep-seated problems in the Western economies. It’s impossible to say how long it will take to sort them out.”

Where do we go from here?

telegraph.co.uk

....from Message 24972068
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