WEEKLY COMMENT 7-03-2013
By Barry Edwards
You will probably have seen a lot of mention about the USA budget control referred to as ‘The Sequester’ in the last week. This actually came into effect on the 1st of March without much comment from the general media in the UK. Amazingly, the only reaction has been that the American Dow Jones index and the British FT 100 index reached new record highs on Tuesday.
Before I comment any further, it is best to explain what it is all about and the following was taken from ‘Wikipedia’ since it gives all the basic facts without going on too much. If you know what it is all about skip the next four paragraphs in italics.