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Isn't it Time for Some Good News?

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Isn't it Time for Some Good News?

There’s no doubt about it – the global financial scene is currently going through some serious turmoil and hardly a day goes by without the world’s media reminding us about the latest economic doom and gloom. Understandably, many investors worldwide are feeling nervous and with major world banks facing serious credit problems and stock markets tumbling daily, putting your hard-earned money into a sock and stuffing it under your mattress may seem like the only option to keep your money safe.

But it’s not all bad news and amongst all the negative figures and talk of the 1929 crash, the team at Obelisk Private Finance believe that it’s time for some good news. With this in mind, we have compiled a list of 8 reasons to be cheeful when it comes to money:

• The recent fall in oil prices (down by US$50) is a welcome relief to all world economies.

• The massive huge injection of funds (US$1 trillion) by the US Federal Reserve means the worst case scenario for the world economy has been avoided.

• Not all banks have been affected by the sub-prime mortgage crisis and many are still going strong.

• The US government take-over (conservatorship) of Freddie Mac and Fannie Mae is a huge support for the US housing market and should improve consumer confidence significantly.

• Stock exchanges have always gone up and down like yo-yos. They almost always rise by several points after a crash and many recover completely after a week, but you never read about that in the news.

• If you have savings in a regulated bank, they are covered to a certain extent by national legislation if the bank were to go bust. For example, in the UK, the Financial Services Compensation Scheme covers the first ₤35,000.

• If you invest now in property in an emerging market you could be looking at an over 200% return on investment over 5 years. Even in today’s troubled markets.

• Plenty of economies in the world are doing extremely well – in Q2 2008 Romania registered 9.3% GDP growth, Slovakia saw 7.6% and Poland 6.1%.

Now that’s something to smile about.

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