As the economic crisis unfolds, countries around the globe are seeing their companies crumble or weaken. Reuters reports on the latest tolls the economic slump is having on Asia: “Japan insurers seek merger as crisis takes toll“.
The article highlights how this crisis is sweeping the global in a domino falling style: “Crumbling home and auto sales pushed three Japanese insurers into merger talks and Koreans plan to cut spending on children’s education, signs the global economic slump is reshaping business and lifestyles around the world.”
Fact is that no country, no economy and no sector appears to be immune to this economic crisis. As auto sales crumble and houses stop selling one sector after the other is being hit. What I fail to understand is how politicians are still talking about a speedy recover (1-2 years). Again something that this article mentions: “Consumers, investors, central bankers and politicians are hoping to see some signs of recovery next year from the worst downturn since the 1930s as governments pump over $1 trillion into their ailing economies.”
What exactly is their hope based on? Where are they getting their figures from? Do they even read the papers? Or is it all just one big show – to see who can act the best?
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