Monday 6 October 2008

I like Brian Tora article on financial crisis.

I like the moneymarketing.co.uk article by Brian Tora on the current financial crisis by looking at the past. For instance, in the early 1970s there was a three day week in the UK and hyperinflation. Tora says this crisis is all about overborrowing with too much money being lent to the wrong people. However, he is confident that we will get through the crisis, which may be once in a lifetime event but is not unique.
Meanwhile, in Brighton the financial firm Antrams has been offering advice for over twenty years. It can handle complex financial planning issues.
In his regular investment article for moneymarketing.co.uk Tora says he is convinced "central banks and governments will find a way out of the situation created out of easy money and greed". However, I think he might have to exclude the bankers Trichet and King, who seem intent on fighting imaginary inflationary battles. It may be that inflation is used to attack the debt mountain in various countries. However, Trichet and King must be more pragmatic and cut interest rates now. Oil and food prices have come down, although the Bank of England governor must be worried about the level of sterling.

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