It seemed the stockmarkets had topped, and people were willing to take out some profits. Equally, it seemed there was fresh money waiting to be invested, especially with promise of low interest rates for the foreseeable future in Europe, U.S., Australia and Japan, as well as China, all of which are using policies to generate further growth.
The weak 0.1 percent GDP growth recorded in the second quarter in Eurozone has certainly helped the preceding period not being classified a recession, but the growth is very weak nevertheless, and demands continued stimulus with low interest rates.
The Bank of England's Guvnor Mark Carney has suggested an accommodative policy, indicating a low rate would obtain until such time as the unemployment falls to 7 percent. This is a mixed blessing, as the government would prefer to see the rate fall faster but at the same time a prolonged period of a low rate is good for boosting the economy, as it generates growth. All that really remains to be seen is the local banks loan the money out to entrepreneurs, start-ups, traditional small businesses seeking to expand capacity and such enterprises. Britain's bankers will have to be just as willing to lend venture capital as the reputed bankers across the pond if Britain is to emulate the growth that has been created in the U.S. in the last four years. As they say, money is inert matter and has life breathed into it when it circulates, giving people a living, fulfilling their dreams, going round and coming back with interest. That is how wealth becomes created, utilizing what God has given in the form of farming and resources, to which is added human ingenuity and creativity, producing goods and services that have particular value and becoming marketable. How kind God is, the bankers must appreciate and help the cause of humanity in their endeavours by lending money to them, so they can buy houses, cars, trucks, vans, iPods, cooking utensils, giant TVs, etc, etc. Surely they would like to see people prosper?
The tepid movements in the stockmarkets today seem to suggest that the profit taking or jitters may be over. Despite continued bad news of clashes in Egypt, the markets were quite stable. It seems the conference called in Europe next week to address this issue by the European Union is probably likely to consider curtailment of aid to Egypt. The U.S. has continued in a generous spirit not to have touched on this topic, hoping the situation there will be resolved peacefully in a short period. Hopefully the Egyptian leadership and the people of Egypt will value this generosity, and try to reconcile their differences and work out a formula to appease both sides and let peace rule in their midst.
People seeing dead bodies being carried to a makeshift morgue were lamenting 'Haram, haram' - meaning they did not expect death when their relatives had just gone to protest peacefully.
I pray that God inspires the people to listen to the voice of common sense and reconcile their differences, and come to a solution that is just for all.
I pray for peace in Egypt.