A question I received: Are we done with this crisis?
My Answer: I’m not an economist, but in my opinion, the real crisis is still ahead of us. This opinion is based on real data and the fact that we still haven’t drawn the conclusion that we have to correct ourselves. After all, the reason for the crisis is to awaken us toward correction.
For now we’re observing the crisis at the stock market, but it may take another year for it to manifest in the economy. The tsunami wave of the financial crisis has not reached humanity yet. For now all the stock market plunges are mostly assessed by the anticipation of the financial crisis.
How will it manifest? There will be a wave of unemployment, wage reduction, the virtual disappearance of high-tech, a drop in real estate prices, growth of inflation, bankruptcies, nationalization of banks, and annulment of investors’ savings. And this will continue until we recognize the reason for this crisis – us!
News Report (from zibb.com): The Saudi Arabian King, Abdallah Bin-Abd-al-Aziz stated in an interview: “Monetary experts and the leaders of major countries which were affected by the crisis expect the crisis to end within a year and a half. According to them, they need to restore confidence and reassure people. I think that if these international gigantic economies cooperate, they will be able to get through this crisis, as they had done in previous crises.”
My Comment: Long live the king! He’s right, as long as he’s talking about true cooperation, as befits a small village or a family. This shows that man is starting to change.
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