Is it too late to save the worldwide economy?
Stock markets around Europe were higher today in early trading with many investors of the opinion that the economic situation in Europe and around the world has got so bad that action will need to be taken on a global basis. In a rather bizarre turnaround, the likelihood that economic sanctions and various fiscal programs will be introduced in the short to medium term has given some investors hope for the future which has led to a rally, although how long this will last remains to be seen.
Along this bumpy road for the worldwide economy there are various lights in the darkness which include higher-than-expected growth in the US services sector and an increase in German manufacturing orders. However, these are only bright lights in the darkness of the moment and the worldwide economy is under serious pressure with problems in Europe, the US and China causing major concerns. If the recent fall in economic activity does prompt governments around the world to act sooner rather than later then perhaps it is not too late to avoid a double dip recession.
The truth is that nobody in the political and economic arena today has ever been in such a situation post the credit crunch and worldwide recession. So in effect, very few if any people know what to expect!
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