Tuesday, September 16, 2008

Going down, down and down..

Gosh... been so busy these two days with my assignments and today's 25% term test...Serves me right for not doing it over the holidays.. Finally can take a breather to update my blog..

It's going down everywhere!! The world sharemarkets are tumbling down after the fall of major investment firms on Wall street..Lehman Brothers the 4th largest investment bank filed for bankruptcy yesterday along with Merrill Lynch sold to the Bank of America causing the biggest financial crisis faced in many many years.. Everything everywhere is falling.. Stocks, bonds, funds and all the dollars,euros and yens... Well, at least now no one would be complaining on the petrol price going up...

You can't run and you can't hide... everyone's affected. All the worried faces everywhere..The question now would be how severely this will affect the global economy? would it cause lasting damage?

The NZX dropped over 90 points this morning however our Financial Minister Michael Cullen states that NZ's financial system is still sound.. well i hope so... but it is expected that there will be some impact on savings and also on our GDP growth.. So people... start saving!! Be prepared for what's coming to hit us... Better 'save' than sorry..

Really eager to go to my economics lecture tomorrow to see what my lecturer says.. that is if I go to bed now and can wake up on time to my 11 am lecture... Nitey Nite!!

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