Seeing is Believing, But Stabilising is NOT Recovering

There is clear evidence of most economies globally “stabilising” at this point, you could even stretch it to say that the “worst is over” - since I doubt we will go back to the dreadful days of December and January
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But to go from this evident fact to drawing the conclusion that a full recovery is now in the works would be a very fast and loose use of both logic and economic theory.
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an interview with Hans-Joachim Dübel - CEO of Berlin based FinPolConsult, one of the leading and few relatively independent voices in the German housing finance community - where he says: “My guess is that the Landesbanken alone will cause ultimate losses of 8-10% of German GDP, which is real money. Compare that sum with the 5% of GDP costs for the US S&L crisis”..
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