Then thank God its the year 2008 and not the 1800's; otherwise UK would have started to colonize other nations to solve their problems back home. :eek:
Nothing can solve these sorts of problems: http://news.sky.com/skynews/Home/Bu...5109134_Mortgage_Lending_At_New_Low_In_August The figures are truly catastrophic.Mortgage lending plunged by 95% from the MONTH before.In July,net lending was £3bn.In August it was £143m. It's just an incredible situation everywhere. German lender Hypo Real Estate plunges 75%.Even ICELAND has their first banking nationalisation of the current crisis,their govt. stepped in to take control of their third largest bank,Glitnir. Worldwide meltdown.
dollar strength is for flight into treasuries i would guess plus poor growth outlook for non dollar....aussie looks very vunerable
I love corrections. They're not pleasant, and cause discomfort, but are needed. Great long-term investment opportunities. Tomorrow we will bleed - redemptions on Hedge Funds.