Here we are in the thick of recovery! It is a fact that in any economy,there are cyclical booms and recessions and economists fight tooth and nail to prevent depression-which is an undesired offshoot of recession if not properly tackled.We all know this latest recession begun in America- non performing house loans where givenout,investors refrained from investing:the economy was on the receiving end; the price of a barrel of crude oil tripled,jobs where lost-it spread to other parts of the world! In Nigeria for instance,banks were hesitant to grant loans,hedge funds withdrew about =N=1.3trillion from the stock market.The inevitable result was stock market crash although Nigeria's foreign reserve was intact and prices on petroleum products domestically remained the same probably because of deregulation.
In a nutshell I believe we have learnt our lessons-lets avoid a reoccurrence,yes we can!
In a nutshell I believe we have learnt our lessons-lets avoid a reoccurrence,yes we can!
