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Thursday, April 02, 2009

Green Shoots, or A Dead Cat Bounce?

The FTSE broke through the 4000 barrier this morning, in response to tentative signs that the economy may be stabilising. House prices rose for the first time in 16 months, and the Bank of England claim that they expect banks to increase lending over the coming months.

These signs augur well.

However, all will be as dust if Merkel and Sarkozy have their way, and bury "unfettered capitalism".

They should remember that "unfettered capitalism" has for the last few centuries been the bedrock on which the growth and development of the European economies has been based.

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