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Hello Crazy funsters,
The big Christmas rush to buy shares hasn't really happened this year. Very disappointing - and it's probably all because of the credit crunch worry.
Never mind, the financial problems affecting banks and similar institutions can't go on for ever. Whatever we may think of City experts and manipulators, they are pretty hot at putting sticking plasters on the diseases of world economies.
There is an awful lot of thought going into how to solve the Northern Rock (NRK) situation. Just because a wonderful solution hasn't been agreed doesn't mean that a lot of work is not going on back stage.
The chances of another run on the bank are very low now. This government, the Bank of England and world banks are making sure that a repeat of this sort of thing is highly unlikely.
I think the credit crunch worry will fade away. Yes, there is a lot of uncertainty at the mo, and the City hates that more than anything. But lessons will be learnt. The City is very good at learning from bloomers, even if the Government and the public at large is not so adept at it.
So gradually I see bank shares rising as confidence trickles back. And once bank shares start to bloom, well the others will follow. Not that most other big bluey shares have fallen back by that much, anyway. Some, like BG (BG.) and National Grid (NG.) have been pushing all time highs.
So my message for 2008, gang, is don't be too despondent. The end is not nigh - but a modest recovery might be. Rocking on!
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