Is Gordon Brown Really Going to Save Us
The year of 2008 has been a year of shocks in the world of finance and I am pretty sure that when the Northern Rock decline was announced we did not think that it would be as unsettling as the situation is now.
We are in a recession and some of the figures and statistics been mentioned last year have been quite disturbing.
500 billion is a conservative amount of what you and me are paying for the governments plan to bail out the UK banking system which works out at about £8000 each! The plan is in three parts and we as tax payers own 57% of a part nationalised Royal Bank of Scotland, Lloyds TSB and Hbos.
The Bank of England who on Thursday 8th January may be announcing another interest rate drop, will deposit £200 billion into the markets to encourage banks to start to lend to each other again, which should help improve the declining mortgage market.
Gordon Brown is also making available £250 billion available for the banks to guarantee medium term debt which may restore confidence and make banks trust each other and start lending again.
What is to say that these measures are going to help or hinder the economic situation but lets hope that Gordon Brown can really save us.
I woke up on the 1st January with hopes and believe in business if we all try and ride the storm we could come out smiling.
The news on a daily basis is rough but I feel that if we stick this out we can possibly at the end of next year 2010 see brighter times ahead.
We are in a recession and some of the figures and statistics been mentioned last year have been quite disturbing.
500 billion is a conservative amount of what you and me are paying for the governments plan to bail out the UK banking system which works out at about £8000 each! The plan is in three parts and we as tax payers own 57% of a part nationalised Royal Bank of Scotland, Lloyds TSB and Hbos.
The Bank of England who on Thursday 8th January may be announcing another interest rate drop, will deposit £200 billion into the markets to encourage banks to start to lend to each other again, which should help improve the declining mortgage market.
Gordon Brown is also making available £250 billion available for the banks to guarantee medium term debt which may restore confidence and make banks trust each other and start lending again.
What is to say that these measures are going to help or hinder the economic situation but lets hope that Gordon Brown can really save us.
I woke up on the 1st January with hopes and believe in business if we all try and ride the storm we could come out smiling.
The news on a daily basis is rough but I feel that if we stick this out we can possibly at the end of next year 2010 see brighter times ahead.
