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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: CalculatedRisk who wrote (189516)3/9/2009 10:33:54 PM
From: stockman_scottRead Replies (1) of 306849
 
The bottom has got to be close. The markets continue to behave like a spoiled child throwing a tantrum because the global response to date has been too little, too late. China did the right thing with a stimulus package amounting to 16% of GDP over two years. But the US has so far come up with a package worth 6% of GDP over three years, which is clearly not enough. $881 billion sounds like a lot of money, but in this world it is only the down payment. Treasury Secretary Hank Paulson promised to ring fence toxic assets but never delivered, buying into the banks instead. Policy makers are not equipped to deal with the globally synchronized nature of this melt down. In 1988 world trade accounted for only 5% of GDP. Last year it was 33%, but is going to hell in a hand basket with stunning speed. More global coordination is necessary, no matter how distasteful that may be.

By The Mad Hedge Fund Trader Mar 09 11:59 am

seekingalpha.com
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