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Thursday, 16 October 2008

Brownian Motion

Prime Minister Brown's rescue plan for the banks, and wider economy, was hailed, as recently as a few days ago, by media pundits and Nobel prize winners alike; at the start of this week, shares seemed to rise, and hope gave way to genuine optimism. Unfortunately, three days later, all is not so well. Not only does it seem that Brown's expensive plan was a finger holding back a sea of trouble, but that financial institutions no longer have the confidence to even be bailed out. If last night's dramatic stock plummets continue today, we'll be back to roughly where we were last week, end of this one - down 20%, or more. Meanwhile, as the world economy grinds to a halt, the world faces a severe downturn. This is worrisome news. No one is out of the woods, Bretton or otherwise, yet.
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