Tuesday, 14 April, 2009

Money Matters : The Financial Crisis Moves On?

Has the market discounted the Financial Crisis and moved on? If you go by the market movement in India over the last two weeks, it would seem so. So is there reason for cheer? I don't think so. The clueless analysis put out with maddening regularity continues to crank it up. We have almost forgotten that these are the same voices that did not see the implosion coming a few months ago, but still continue to dish out the expert advise.
On the other hand, there is a more positive mood in general that I have noticed; is spite of bad numbers and the job losses. In India, the general media is now focused on the general elections and the level of financial scare-mongering on the front pages has come down.
Banks continue to fail or wallow in trouble but the news seems passe now. At the breakfast table – open paper – oh, another bank down with a gazillion trizillion losses – yawn, pass the butter – what’s happening in cricket?
Nothing has changed. Be conservative, glad that you have a job and wait for the recovery…………….