Pros Say: UK 'Very Close to Depression'

Global stocks were mostly higher Thursday as recent selling pressure eased and safe-haven buying of the dollar and gold subsided, but reminders of the global economic gloom and financial sector woes kept investors cautious.

Sharon Lorimer

Experts tell CNBC central banks need to step up the efforts to save the economy, as the UK looks likely to enter a depression.

UK Economy "Very Close to Depression"

Quantitative easing is desperately required for the UK economy as it is very close to depression, says Hans Redeker, global head of FX strategy at BNP Paribas.

Fed Setting Itself Up For More Trouble?

The Fed's move to create so much liquidity in the markets is going to put it in an awkward situation in the future, says Andrew Freris, senior investment strategist, Asia at BNP Paribas Wealth Management.

Jobs First, then Housing

Employment needs to improve before dealing with housing, says Paul Muolo, author of "The $700 Billion Bailout." He speaks to CNBC about the U.S. government's bailout plan.

More Euro Weakness in the Near Term

Concerns about Western European banks exposure to Eastern European economies will continue to weigh on the euro in the near term, notes Emmanuel Ng, currency economist at OCBC Bank.

Australia is Not Out of the Woods Yet

Australia still has a risk of falling into a recession but initial signs, like Thursday's fourth-quarter retail sales, are good, says Adam Carr, senior economist at ICAP. He analyzes the health of the economy.

Value of Gold is Speculative

Gold's value is almost pure speculation, says Joe Magyer, senior analyst at The Motley Fool.

Lack of Money Holding Gold Back

A lack of available money is holding gold back, says Larry Levin, founder and president of Secrets of Traders.