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Thursday, October 16, 2008

Rate Cuts

Despite the "bailouts" being promised by various governments, the markets are currently in freefall as the fact that the world's economies are heading for recession strikes home.

Poor retail figures from the US, and lousy employment figures in the UK have added to the misery.

It is clear that the "bailouts" need to be augmented by serious interest rate cuts by the central banks of the G7, failure to grasp that nettle will see the world stuck in a recession that may turn to slump.

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