Word: naud
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...contention that France, Europe, or even the global economy isn't already in a recession that's likely to get worse, is a joke," says David Naudé, chief economist for the euro zone at Deutsche Bank in Paris. "The unexpected mini-advance in France notwithstanding, the news is bad, and all forecasts indicate the fourth quarter will be even worse...
...convergence recession', because there's a synchronization of the negative business and economic cycles around the world, which are gaining more strength and speed than we've ever seen before," Naudé warns. "Even the figures coming out of once inexhaustible emerging markets like China and India point to serious weakening. It took awhile to get here, but recession is here, and it's a serious...
...frequently illogical reaction of markets to daily evolution of the dark economic picture is pretty disconcerting, but it looks a little more coherent from a distance," Naudé explains. "Markets have lost over 40% of their value in the past year, and daily losses of -5%, -7%, -10% have far outnumbers the occasional gains of 3% or 4%. Don't be confused by today's advances, because they are the exceptions to the reigning rule of pessimism and losses...
...pure panic, and the lack of logic involved explains the inability of markets to find new, stable values for stocks," says Deutsche Bank euro-zone economist David Naudé. He concurs with Touati that while the credit crisis and its consequences are grave, the wider economic realities don't merit the dread that is driving market reaction - at least...
...markets are so spooked that they're driving indexes into the ground and thereby increasing the chance of general economic contamination. "We're back to the most basic behavior of stock markets: people buy when they see everyone else buying, and they sell when everyone else is selling," says Naudé. "Confidence is gone despite the generally quick and positive intervention by governments...