We use cookies to improve site performance and enhance your user experience. If you'd like to disable cookies on this device, please see our cookie management page.
If you close this message or continue to use this site, you consent to our use of cookies on this devise in accordance with our cookie policy, unless you disable them.


registration required

for more website access

This content can only be viewed by subscribers and registered users of Investors Chronicle.

Subscribe or register free today

Jim Slater: what I would buy now

The question I am often asked these days is whether or not today's recession is as bad as 1974. To my mind it is much worse. In 1974, the secondary banks failed; today, leading banks of the calibre of Lehman and Bear Sterns have already failed and the world's banking system is still in grave danger. In 1974, interest rates in the UK were as high as 12 per cent, so there was plenty of scope for dramatic easing. At the start of this recession our interest rates were about 6 per cent, with much less leeway for impressive reduction.

registration required

visible-status-Standard story-url-CoverFeature_JimSlaterPart1_WhatToBuy_130309.xml

By Jim Slater,
12 March 2009

Print this article

Advertiser reports

Register today and get...

Register today and get...
Please note terms & conditions apply