The Queen of England recently asked "Why did nobody see the financial crisis coming?"
The Financial Times took the view that "Some did, Ma'am. Some did." It then initiated a search for these people.
Today's Financial Times now recognises some of those who correctly warned that financial crisis was close. I am sure readers will be pleased to know that it chose to highlight my analysis, and the blog itself.
Comments (2)
Sir,
i regard to your statement,i entirely agree with what you are saying.
Is it not true, that the previous conservative government,before they lost power warned that the new Blair government policy of spend,spend,spend would have negative consequences later on.
Was this policy also followed,or created in the USA? How long is this crises going to last and how devastating is it going to be?
I have come across some details :
http://www.squidoo.com/worldfinancialcrisis
which states that it will last until 2011.Would that be correct in your assessment.
thank you
Posted by john peters | November 29, 2008 1:27 PM
Posted on November 29, 2008 13:27
John.
Thanks for your comments. I am sure you will understand that the blog cannot take political positions, and therefore can't comment on the warning issue.
But it certainly does believe that the downturn will not be over quickly, and that companies would be well advised to plan on the basis that it could last until at least 2011. Most previous recessions (eg 1980-5, 1990-4) were multi-year.
For example, last month's blog posting, Budgeting for Survival, suggested the recession could last until 2011-12. (http://www.icis.com/blogs/chemicals-and-the-economy/2008/10/budgeting-for-survival.html).
Paul
Posted by Paul Hodges
|
November 29, 2008 1:37 PM
Posted on November 29, 2008 13:37