Thursday, 2 October 2008

The Global Financial Turmoil Series

A lot has changed since I last posted on my blog. Top 5 i-banks of US are part of history now. Few months ago, there were all sorts of statements, that "the US is in the middle of bad period" or "the bad is over", etc etc... However, in my some previous articles, I maintained that US has just entered the first chapter of financial turmoil, and I maintain so. I personally believe that the present situation is worst ever faced by US and the event has just started.

The situation to me looks scary, and few more "Big Brands" would collapse. Its a vicious cycle, and only financial companies are not part of it. The auto majors would soon follow them. I can see few major auto companies would sell off...

$ 700 Billion blank cheque by Mr. Paulson is a bad plan. The US financial foundation, the model, has collapsed. Repairing it (with proposed $ 700 Bn.) would temporarily save things, but in long run, situation would worsen, and I believe that that situation would be like a Tsunami, nobody would be spared from it.

I would try to present the economic impact or condition of various countries, due to the financial turmoil happening in US.

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