The world governments did come up with a plan in a major effort to avert a financial meltdown. Yahoo! Finance The very existence of these radical measures indicate however just how dire the situation had become by this last weekend. I will be looking for some bonds to buy this morning or I may do a nibble or two on closed end funds. While I acknowledge saying in an earlier post that I planned to avoid doing that, the discounts to NAV have just become so ridiculous that I may succumb to temptation.
While the measures taken over the weekend may avoid a further meltdown or a depression, I do believe that a recession is unavoidable. A recession would be the best result that could happen at this point.