It seems that of late not a day goes by without some new financial emergency hitting the world markets. Just the other day we saw the failure of the Lehman Brothers, one of the chief investment banks in the United States.
Personally I think it’s fate since the CEO took home a $22 million bonus in March this year. Like he didn’t know! Kind of ironic that they were after a 22 million bailout just before they went bust!
Care to help out Mr Fuld? Yeah right.
The problem is it affects everyone. The stock markets around the world reacted in trepidation to this latest debacle and the economies of many countries have had a large cash injection to help try to weather the storm.
But this is the tip of the iceberg. Many were forecasting AIG to be the next casualty (now bailed out) and the massive Washington Mutual are not doing well. Even if these two big institutions go down chances are it will not stop the nosedive. The Dow Jones is actually still quite close to its all-time highs meaning it has a lot further to go!
All this helps to kill the confidence of the consumer affecting everything from the amount we spend on groceries to how much we choose to pay for a house. Speaking of the housing sector, real estate agents and all the businesses which feed off the housing sector are experiencing very rough times indeed. One of the many reasons estate agents are in so much trouble is because many people have understood they can use the web to sell their home privately bypassing paying the agents their fees.
Actually if you want to promptly sell your house in a favoured private property sale it has never been easier. A quick search on google will turn up literally hundreds of portals where you can advertise your house privately. It’s a very astute thing to do which could salvage you many thousands. Something well worth doing as the purse strings tighten!
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