Editor's Letter - Once bitten twice shy

It's fair to say that it's extremely unlikely that short-term measures will be able to restore investor confidence in the world markets and by so doing stave off the spectre of a deep and painful recession. Quite how long that recession will last is anyone's guess; conventional thinking suggests that it will be a long, drawn-out affair, but considering the speed and severity of the current death spiral, it's plausible that the recovery could be equally fast.

This past six months have been

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