Nope, someone on the radio this morning was saying that for those who are 65 or older will not see the sharemarket return to its former position in their lifetime. They are predicting that it will be worse than the 1929 crash and as such is going to take over a decade to correct itself fully.
That doesn't mean that things will be doom and gloom that long but we are definitely going to see an ongoing staleness in the job market in finance, share prices, bonuses and profits etc in the financial industries.
Nothing that has dropped this dramatically can reboung to where it was especially when there has been so much actual money lost and so many banks who have folded or been nationalised.
think that this is just part of the financial cycle that is inevitable with the way that the financial instituions operate, the only hope is that each time it happens we learn a bit from the experience and take steps to try and mitigate aginst it in the future. The propblem is that collectively we have money in these fiancial instutions either directly through our savings, through our pension funds or indirectly through both local and central goverment and this money needs to earn ever increasing interest to keep pace with inflation and greater living longer. These institutions need to lend this money to somone and make a good return, the people who borrow need to earn enough to pay back this money and so the cicrle goes on.
In my opinion we are in a very huge crisis and it's going to be quite difficult to repair it. We are not speaking about just one country, this one is a Global Crisis and all the governments should reach an agreement for solving it, and is not easy cos they all think different and have disagreements..
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