New Confidence?

Two of the biggest banks in the UK posted figures on Monday showing a profit of nearly £3 Billion pounds each. Quite easily the best financial news we've had in what seems an age. But will it filter into the psyche of the general population?

My own confidence in the economy is slowly starting to return. Manufacturing levels are up, consumer confidence has had steady stabilisation and growth, the pound is doing much better against the dollar and the housing market is showing healthy signs of stabilisation also.

With a bit of luck, it won't take too much time for people to take notice of these signs of recovery and start to feel more secure about spending their money.

My one big gripe about all this economic turmoil was that we were put in such a volatile situation, yes due to tremendous greed by the banks, but also due to massive media hype. It's well known there were major problems with the banks, but with the media always hungry for headlines, they were quick to tell us how bad a situation we were all in, therefore worrying much of the population into holding onto their money. My view on all this is that if the media kept their mouths shut and didn't put so much focus, graphics and dramatic music on the situation, public confidence may not have been as low as it has been.