Melt Down of world markets
Well hope the world will recover-- drops of 50% value in stocks in all countries, and GM in USA talking of bankruptcy as a natter option, though saying it is not an option-- some how --does not bode well. Who stole the money? or the accounting policy of mark to market for assets acted in reverse, suddenly making the debt uncovered by assets, causing a collapse for the company.There seems to be a collapse in trust quotient in the market- the instruments they used to believe each other seem to have failed badly. Now an open field is left and even when liquidity is there, no one is willing to stick out neck to offer credit! What a sudden credit crunch spreading like wild fire across the globe. Like when debit entry is there there must be an equal balancing credit entry- who got all the money seen to be lost in the market to the tune of $ 3 trillion in the world! Or it was only a paper trick and no real wealth was created, but only a perception that we are getting wealthier by globally spr...