Thursday, January 15, 2009

A World of economic reports in the last week

US import demand was strikingly weak: Global Trade Posts Sharp Decline

Canadian banks are tightening up as the economy worsens: Bank of Canada Survey Finds Worst Climate in a Decade

Eurozone consumers are feeling the pain of the fragile economy: European Confidence Dropped to Record Low in December

What a record in England: Bank of England Cuts Rate to Historic Low

"The Bank of England cuts its key rate by a half percentage point to 1.5%, the lowest level in the bank's 315-year history, marking the latest in global policy makers' efforts to fend off the threat of deep recession."

US Consumers are are pulling the purse strings: Dismal holidays over, but retail outlook still dim

And Japan's manufacturing sector is suffering: Japan's machinery orders plunge

The world's private sector is retrenching. This time, coordinated global policy is a must. And this time, trade is not going to save any one economy (see this WSJ article).

Rebecca Wilder

2 comments:

  1. The world's private sector is retrenching. This time, coordinated global policy is a must

    Err..Noooooo!

    The one-trick-pony-people's policies of "Globalisation" is precisely what got us in the hole in the first place. Now we need to disentangle and then move to the countries that do not sink.

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