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History suggests that this is just another crisis like many others, and this too shall pass.
The current housing and banking crises are both unique and severe. Billions of dollars of wealth have disappeared over the last year, in some cases in just a matter of days. Companies that have been household names have gone bankrupt, with others on the verge of failing as this article is being written. Make no mistake; these are scary times with both professionals and the public wondering if their money is safe. Is this the end of the U.S. financial system?
Although we cannot predict the future and suspect that anything is possible, history suggests that this is just another…
21Sep2008 | Managing Money | Comments Off | ContinuedFinancial Fears Sweep the Globe After RBS Predicts Worldwide Stock-Market Crash
As rocky as the global markets have been, the worst is yet to come, the Royal Bank of Scotland Group PLC (ADR: RBS) warns.
RBS analysts have warned clients to brace for a full-blown crash in the global stock-and-bond markets over the next three months as the conflicting realities of slowing growth and rising inflation paralyze the world’s major central banks – causing “all the chickens [to] come home to roost,†Great Britain’s Daily Telegraph newspaper reported.
The report, which first surfaced late Wednesday, raced across the Internet yesterday (Thursday), though it appears that European news organizations are giving it much wider play than…
20Jun2008 | Money Morning | Comments Off | Continued
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