Right now there is huge effort being exerted by the leaders of the major economies of the world to build your confidence in the financial system. Enormous sums are being talked about. $700Bn translates to about twice the net borrowing of the US government in 2007 or 15% of total tax receipts for that year. The UK and European governments are mounting similar efforts to assist local banks.
Confidence isn't just about savings, retirement plans and house prices. It is all about attitudes at work - how much risk will enterprises take in this environment, how many people will be in work, how much expansion and new business gets written. But if people are worrying about their personal losses, they probably won't make great decisions that will help the economy overall to recover.
So when you go into work today, how much confidence do you have, and how will it affect your business recommendations and decisions?
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