QuoteThe Royal Bank of Scotland has advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks.
"A very nasty period is soon to be upon us - be prepared," said Bob Janjuah, the bank's credit strategist.
A report by the bank's research team warns that the S&P 500 index of Wall Street equities is likely to fall by more than 300 points to around 1050 by September as "all the chickens come home to roost" from the excesses of the global boom, with contagion spreading across Europe and emerging markets.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/18/cnrbs118.xml
Fifth Third isn't doing so great either.
http://news.yahoo.com/s/ap/20080618/ap_on_bi_ge/fifth_third_stock_offer_8
WB is at 1992 prices right now ($17/share).
53 will get bought out. IMHO
So, what happened to the "economic recovery" and "don't worry, everything will turn out just fine"?
I am gonna go ahead and shoot myself right now. ::)
Quote from: Midway on June 18, 2008, 10:04:13 PM
So, what happened to the "economic recovery" and "don't worry, everything will turn out just fine"?
Midway...if you are an investor, you should wait until things turn around. UNDER NO CIRCUMSTANCES SHOULD YOU BUY NOW WHEN BANK STOCK PRICES HAVE PLUMMETTED. wait until everything is safe and sound again, everyone agrees the U.S. will survive economically and stock prices have increased 250%. THEN you will know it is time to invest again.
I would bet he is putting his time in waiting for his government pension to vest. No stocks for midway. Damn those capitalist swine. :D
People. We need to deflate the dollar so we can let them pay for the war. We wont see a turn around until the war debt is under control. IMHO. BTW. Midway, you're like 98% of the rest of America. If you're lucky, you'll have at best a half way decent retirment and that's given you save 15% of your income. Assuming you make any money. Which in this economy is at best just keeping up with inflation. Most likely, you're falling way behind. "Welcome to McDonalds. This is Midway. May I have your order please?" ;D