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For all the complex economic analysis and spin from the politicians, rolling news anchors and pundits of late the economic woes in the US and wider global economy are understandable at a very basic human level, house prices in the US have fallen nationally for the first time since the Great Depression and people are terrified about losing their homes and all that they have worked for and people with money feel inclined to convert it into something that they can bury in the ground and dig up later. Its very animal like behaviour. Sniff around and you'll smell the fear. As the cost of living rises in this depressing economic climate more and more people feel that they are struggling to keep up and still losing ground ...If you cant safely set up home - what can you do?
Where are the benefits of living if working flat out isnt really providing enough to get by? How can we feel anything but exposed and vunerable if we dont even have the security of a shell?
The Federal Reserve and other central banks around the world are slashing interest rates and/or making more money available to the markets and very publicly stating that this is necessary meaningful intervention to restore order to the markets but this doesnt address the crisis in confidence - the animalistic fear and despair - at all, it simply highlights how deep the lack of confidence in the future runs as even the banks , the top predators in our financial eco-system, want to hastilly offload their debts and sidestep the risk of lending money to each other. We are entering a period of global recession, the lack of confidence is rational , the future looks bleak viewed from where most people are struggling to get by from right now , outside of their shells.
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