History in the making

Discussion in 'Current Affairs, News and Analysis' started by Litotes, Sep 30, 2008.

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  1. Having watched the last few days with keen interest, I now think that today will be bloody. I can't see any capitulation yet in the markets but we must be close. A 30% fall on the FTSE 100 from the peak last year would take us to 4700.

    So, today, we will overshoot - and I reckon we will reach 4300.

    Will 2008 be added to the South Sea Bubble, Tulip Mania and the Great Depression? I doubt it, but we are watching history in the making!

  2. All very exciting stuff....apparently. What really grips me over this is the media's high brow reporting of all this stuff. What does it actually all mean? I'm sure the FTSE hitting 4300 is really bad, but how does this affect Joe average?
  3. Agreed chap, as much as its a bitter pill to swallow in the US like it was here I dont understand why they didnt bail out their economy.

    It is almost as if they want it to happen, hard times ahead for many I fear.
  4. Apparently most people aren't keen on bailing out muppets in Wall Street that make millions of dollars a year, screw up and want taxpayers to cover their loses.
    Sort of a they fukked up, why shoud we foot the bill?" attitude. Can't say I blame them either! I'm of much the same opinion with whats going on here.

    In reality an awful lot of people have been robbed blind by banks and big corporations of late (not to mention the taxman) and don't see why they should bail out the big boys.

    What is the reality if a deal is not reached? I suspect most people think that the only real benefits of billions of dollars of their money propping up the banks will be for the banks and their directors.
  5. It's funny though with all these telephone numbers being thrown at the financial market companies, we were only talking about a near £1 billion overspend by the HUGE and well worthwhile NHS a couple of years ago that the Govt said was not tolerable. At least with the NHS we actually all got something for our money. £24 billion plus to Northern Rock ....... it didn't do me any favours at all - I don't 'do' shares. Immoral the lot of it !

  6. I agree jagman but when its all screwed and we have nothing to protect us as savers what do you do?

    They have us by the balls so we either stump up as tax payers and watch the vultures swoop in or do nothing and watch families go to the wall (in my very simplified understanding of these events).
  7. Everybody will feel this in their pensions, investments and probably workplaces!
  8. What do we do? I have no idea, I drive a van for a living these days :oops:
    Harsh reality is that the real beneficiaries from bailing the banks out will be men like this http://www.guardian.co.uk/business/2008/apr/19/subprimecrisis.useconomy
    Why should taxpayers here and in the USA subsidise these people? I recognise that something must be done but what I have no idea.
    What even I can understand (I think!) is that the banking/stock broking system is broken in a big way, is the real solution to prop it up with the money of those of us who can ill afford it to continue in the same fashion?
    As far as I can see the bail out being applied here and proposed in the USA simply props up the profiteers that have created the problem in the 1st place.
  9. Biped

    Biped LE Book Reviewer

    Interesting point to note: The FTSE100, in the 11 years the Labliar 'Economic Miracle' has been at play, has never gone above that which it was in the last days of the Conservative gobment, and of course, now, it's dropping like a stone.

    Telling? You decide.
  10. The Great Lord, Clarkson, may high octane be heaped upon his fuel tank, warned of this catastrophe in 2004.(1)


    Hear his name, tremble to his Fuel Injection.

    May no NIPs cross his path

    (1) Well, to be strictly accurate, he read a book then warned us.
  11. I don't know where you got that - it peaked at 6995 in December 2000
  12. Every bone in my body agrees with your short-term predictions, but for reasons beyond me, even though we are still in early trading, we are still, as of 10.20am, above 4800.
  13. I am quite sure it was December 1999.
  14. Exactly - we've been in a bear market since. BP look cheap thought at the mo. But I think I'll wait till piling in.
  15. Yes, you're right.