Let's fight the battle closest to home
World financial markets face daunting odds but, with the right weapons and attitude, victory is possible writes Marc Coleman
'My centre is giving way and my right flank has collapsed. Situation excellent. I shall attack."
In the battle of the Marne in 1914, French general Ferdinand Foch found himself not only outnumbered and outflanked. He was also facing the redoubtable German general Von Moltke. Many military leaders would have crumbled. But he didn't. Defying the odds, Foch made the best of a bad situation, took the field and won the day.
A century later, world financial markets -- not to mention our own economy and the housing market that's dragging it down -- are facing daunting odds. But victory will demand more than just confidence and steady nerves. Before we can adapt Foch's strategy, we need to know what the Foch is going on .