Report suggests it's still early days

摘要

PERHAPS ONE OF the reasons for this is the fact the current recession has not yet reached the magnitude of the Great Depression of the late 1920s/early 1930s, which is sometimes used as a yardstick when trying to gauge the state (and predict the direction) of the markets. According to Fortis/VM Group's Matthew Turner, while today's commodity price declines were comparable "or even in excess" of those seen during that historic period, the accompanying economic news today "whilst terrible" was not as bad as it was 80 years ago. Contemporary governments, he noted, had taken a "fairly swift and, in some respects, well co-ordinated action by cutting interest rates, pumping liquidity into capital markets, and rapid response bailout packages".