Wall Street Crashes 500 points

And if concern for China continues, then expect another correction over the coming days.
Well A Greenspan,former Fed Chairman ,said a few days ago,that a tipping point for the markets was approaching.He based this on the implosion of the 'sub prime' mortgage market in US,which has even spawned a profits warning from our own HSBC Bank.It may be that this correction will get more violent,before it stabilises,and not only on our own Stock Exchange.
so the Dollar may drop in value against the British pound ?
Sven said:
I don't think that the stock market holds much interest to this growing section of US society.

Poverty gap in US has widened under Bush

$5,000 annual individual income ! family income $10,000 !! that is not going go far in USA unless you live in the Sticks and do some hunting, last time I was there Welfare wasn't so generous and as for medical care ...forget it

so much for the "Greatest" nation on earth, I have seen some sights there, there are some really appalling proverty stricken areas all across the States, its unbelievable.
Hmmm, wonder how it will affect the interest rates here? Could be more than high-flyers topping themselves if it gets too silly.
Blogg said:
A long overdue correction.

indeed, it is sometimes said that what America do today, Britain will do tommorrow, so perhaps the same correction will occur here.


Does this mean that my pocket money will buy me more Wrigleys ?
Well we watched a well regulated Market go to Rat Shit post 9/11.
Now we have another Far Eastern joke ( I remember the Thai crash of 97) going Tits UP.
Now't new just remember you haven't Gained or Lost until you sell.
Just had a Yank 'Expert' warning about US debt and their Housing market, King Georges Legacy ?
The sky is falling in!!

I'm selling my house so I'd like a worldwide crash in house prices please, especially in australia.

Gordon Brown should never have sold our gold, the damned incompetent.

Oh well, going to the dogs anyway. So out with a bang, what?
The housing market, which has been the mainstay of the American economy this past few years has not weighed in yet and when it does, today will be one of the better days for Wall Street.

The Chinese must be really proud of themselves. Let's hope they don't start calling in their loans and if they do then we are really screwed.

A lot of people say that the Chinese can't afford to destabilze the American economy because they will lose their biggest market.

I say bullcrap. They can if they wanted to. They have leveraged themselves into a position where they are an industrial society and we are a consumer society. They have also in the last few years looked beyond America as their major market. Somehow, I have the feeling that they might take a dip in the profits but they will do just fine. If a worldwide recession happens tomorrow, the Chinese will emerge even stronger.

Other than arms, what is our biggest export again? The Chinese have lent us all this money and what have we done? "Reinvested" it in the armament industry. The military-industrial complex that Eisenhower warned us against has finally caught up with us.

Golly! It's dark and I am scared.