Five-point palm global panic crushing technique

So this time the industrialised nations have pledged action to tackle the financial crisis in a “united front”. And according to US Treasury Secretary Henry Paulson, they have issued a five-point plan of “decisive action” to unfreeze credit markets. Specific details on how this can be done is yet to be revealed. Liquidity seems to be their main focus along with plans to protect savers to calm the market. It will be interesting to see how the market reacts come next week. But I think the main problem is people’s lack of confidence in financial institutions, whether or not they are really failing, and governments’ ability to get them out of the financial crisis. And as rightly pointed out by my colleague, if the media could stop fueling people’s imagination with all the bads that are happening, the situation we now have could be a lot better than people realise. Anyway let’s see if this five-point palm global panic crushing technique will work miracles next week 🙂

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