From 2008 into 2009

By Staff Writer

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What it was and what will be

The year is drawing to a close and for some 2008 was an Annus Horribilis, or a horrible year.

The economic sector has been overshadowed by one of the largest financial crashes of all time and the effects will still be felt deep into 2009 if not beyond.

The financial news outlets had a good look at what happened in 2008 and some of them also released their predictions of what was in store for us next year in 2009.

The Mail and Guardian had an in depth look at the biggest financial story of the year with the headline 'Three weeks that changed the world'. The article looks at the events leading up to the massive financial crash that went down late this year. They highlight the weeks of 9-15 March, 14-20 September and 5-11 October, by which time the sub-prime meltdown had spread globally and global measures where being discussed to halt its spread.

One thing that we can be sure of that 2008 was the year when the previous ideal of Neo-Liberal unfettered capitalism was really considered objectively instead of with the dogma and propaganda that supported it previously. Whether anything will actually change is another question but the wool has been pulled from the worlds eyes.

CNBC carried a list of predictions made by Warren Buffet, who was one of the few international investors who expected the flashback caused by dodgy securities that caused the whole crisis to begin. He realised that they were toxic securities and had completely divested his firm of them before the crisis hit. The article lists his top eight ideas for how to survive this market and what you can expect to happen.

The Economist links to top blogs that have a take on the financial year past and the one to come.

The Trends Journal each year publishes its list of predictions for the year to come, this was its prediction for the year that has just been and the Institute is known globally as a leader in getting the trends right before the big events happen. We look forward to their predictions for 2009.

iAfrica carried a piece by Cees Bruggemans the Chief Economist at FNB looking at his take on what will go down next year.

The Times published a special report on the financial crisis which was one of their top ten reports of 2008.

With all the problems that happened and a tough year expected ahead there was some good news on the horizon. The Mail and Guardian reported that Stokvel schemes were still going strong despite the downturn, and the Dispatch tells us that while retailers may be moaning, shopping centres are coining it.

Justmoney hopes that 2009 is better than 2008 but would still rather get a savings account than splash out just yet.

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