[The once and future king]

[ QUOTE ]

further, the biggest impact so far has been localized, in relative terms, to financial markets, that, while still impacting the economy, don't have the same impact a bank run/panic or manufacturing crisis would ahve.

[/ QUOTE ]

I dont see how you can say this. The biggest impact has been on credit/risk etc markets. The falls in the equity markets were mostly a knock on from this. The intervention by central banks was all about this and they pumped in billions of dollars to to free up the liquidity jam brought about by the banking system refusing to lend each other any money take on any risk etc.

I dont see how you can say anything that forces up the cost of money is localised? I cant think of anything more system wide than that.


[ QUOTE ]
the recent growing global markets and high employment rates caused by low credit costs here at home will provide some cushion from reduced spending resulting from high credit costs and th subprime mortgage meltdown.


[/ QUOTE ]

FYP DUCY?