U.K. Stocks Drop as Economic Woes Overshadow Global Rate Cuts

Jennifer Rudd/ October 8, 2008/ 6:50 p.m.

Economies appear extremely bad throughout the globe; I keep asking myself every week reading the articles. The United Kingdom’s economic status has not grown at all over the past week. This week the stocks drop again, but the stocks are also dropping here in the United States. I know that we are coming up on a huge presidential election in November but around the globe this cannot always be the case. In the United States we blame George W. Bush but since our economy is not the only one deteriorating, President Bush is not to blame for it.

This article gave facts and figures about over the years where numbers have been for the United Kingdom and where they are supposed to go. The Bank of England, Federal Reserve, European Central Bank, Bank of Canada and Sweden's Riksbank each cut their benchmark rates by half a percentage point today. Some banks in the United Kingdom are borrowing money from banks in, for example, London. Other U.K. banks swung between gains and losses after the Treasury said they will get an unprecedented 50 billion-pound government lifeline and emergency loans from the central bank. Gas prices here in the United States have come down some this past week which would mean a good sign. Crude oil fell more than $4 a barrel in New York and copper slumped as much as 7.2 percent to $5,227 a metric ton in London. Platinum, nickel, lead, zinc and aluminum prices also fell. Hopefully this will still continue to be the case in which when prices of oil drop, essentials and wants in life also drop but if oil and gasoline rise so will everything else.

Over the next couple of weeks, things should get better to big the whole globe out of going into a recession. If different techniques are failing then something we do should be right eventually, hopefully before things get worse. But the saying always goes that things get worse before they get better. I really do not want to be pessimistic about the whole issue but being only twenty years old growing into an adult, this is scary.
http://www.bloomberg.com/apps/news?pid=20601102&sid=aa5N9nyzIXCQ&refer=uk