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After an outstanding year 2003 and a positive first quarter 2004 the political and economic outlook has worsened. 

To correct and adjust these misallocated investments and excesses will take a while and is probably not over yet. The healing process is important in order to form a better foundation for a future upswing. 

Financial markets are very liquid, because the US Federal Reserve Bank is trying to avoid a deflation at any cost. Interest rates are very low. 

In the aftermath of The Great Bubble, prices have steeply corrected. Most major markets have now declined on average by 50% or more over the last 3 years.