Tuesday, 1 April 2008

Are They Living In The Moon?

"Credit market turmoil poses the most severe crisis for banks in 30 years, surpassing Black Monday in 1987, the Asia currency crisis and the burst of the dot-com bubble, Morgan Stanley and Oliver Wyman said in a joint report."

And still people, media, Finnish Bank, Politicians and co are thinking that the finnish housing market won't be affected... are they living in the Moon (Mo-r-ons)?


Anonymous said...

The International Monetary Fund cut today its forecast for global growth this year and said there's a 25 percent chance of a world recession, citing the worst financial crisis in the U.S. since the Great Depression.

Anonymous said...

While the Fed expects the economy to return to its long- term growth pace in 2009, ``in light of the recent turbulence in financial markets, the uncertainty attending this forecast is quite high and the risks remain to the downside,'' he said.