OK Sm here's my question and btw very good analysis i might add.
What happens when confidence ebbs out of an economy especially a small economy.
Are your savings safe or could there be a major run on that banking system.
When confidence goes everybody stops spending regardless of income or job security which in effect has a profound effect on said economy.
People start hiding money in case there savings are lost or worse still they lose there shirt on there investments or pensions.
I suppose what I am trying to say is what happens when the bottom falls out of an economy and you find out that the Emperor is actually wearing no clothes.
My analysis is pretty crude but in saying that I don't have any sort of education on economics and am just putting my fears into words.
For me it is the ordinary folks who essentially drive economies with there cash flow.
I mean walk into any bank and the queues of people putting cash in be it for loans or savings are mostly ordinary workers.
I hope I have made some sort of sense in what I am saying as I really am worried about how bad this down turn will be.
