WE are in the midst of the worst financial crisis since 1998. The American housing market is in its direst state – sales and prices are down, foreclosures and defaults are up – since they started keeping statistical records 50 years ago. The fear of a recession is so large that a reluctant Federal Reserve has reversed course and sharply cut interest rates.
» Equities ignoring recession worries – The Australian, 3rd October 2007.