Snakes and Ladders

We go up, and then we go down.

I was just having a chat to one of the managers here at the insurance company I am currently working for.

His comment is that investors just do not know who has the bad debts out there, and until all of the debts come out in the wash, we will just not know how low the markets can go. And the money that the central banks have injected into the system and the interest rate cuts this week seem to have had very little effect on confidence.

His other comment is that the worry now in the US is over the insurance companies – as the worries over the investments and saving banks (in the US) seems to have passed.

As we have been saying all week – it’s not pretty out there.

It’s a bit like a game of snakes and ladders. Now where is the ladder to get into the attic?

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