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RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months
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BRIEF AND TO THE POINT
User ID: 381742
6/18/2008 4:15 PM
Report abusive post | RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months
| Quote |
RBS issues global stock and credit crash alert
By Ambrose Evans-Pritchard, International Business Editor
Last Updated: 5:42pm BST 18/06/2008
The 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.
RBS warning: Be prepared for a 'nasty' period
Such a slide on world bourses would amount to one of the worst bear markets over the last century.
RBS alert: Quotes from the report
Fund managers react to RBS alert
Support for the euro is in doubt
RBS said the iTraxx index of high-grade corporate bonds could soar to 130/150 while the "Crossover" index of lower grade corporate bonds could reach 650/700 in a renewed bout of panic on the debt markets.
"I do not think I can be much blunter. If you have to be in credit, focus on quality, short durations, non-cyclical defensive names.
"Cash is the key safe haven. This is about not losing your money, and not losing your job," said Mr Janjuah, who became a City star after his grim warnings last year about the credit crisis proved all too accurate.
RBS expects Wall Street to rally a little further into early July before short-lived momentum from America's fiscal boost begins to fizzle out, and the delayed effects of the oil spike inflict their damage.
"Globalisation was always going to risk putting G7 bankers into a dangerous corner at some point. We have got to that point," he said.
US Federal Reserve and the European Central Bank both face a Hobson's choice as workers start to lose their jobs in earnest and lenders cut off credit.
The authorities cannot respond with easy money because oil and food costs continue to push headline inflation to levels that are unsettling the markets. "The ugly spoiler is that we may need to see much lower global growth in order to get lower inflation," he said.
Morgan Stanley warns of catastrophe
More comment and analysis from the Telegraph
"The Fed is in panic mode. The massive credibility chasms down which the Fed and maybe even the ECB will plummet when they fail to hike rates in the face of higher inflation will combine to give us a big sell-off in risky assets," he said.
Kit Jukes, RBS's head of debt markets, said Europe would not be immune. "Economic weakness is spreading and the latest data on consumer demand and confidence are dire. The ECB is hell-bent on raising rates.
"The political fall-out could be substantial as finance ministers from the weaker economies rail at the ECB. Wider spreads between the German Bunds and peripheral markets seem assured," he said.
Ultimately, the bank expects the oil price spike to subside as the more powerful force of debt deflation takes hold next year.
[link to www.telegraph.co.uk] |
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BRIEF AND TO THE POINT
User ID: 381742
6/18/2008 4:32 PM
| | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
Here is insult to injury:
Paulson & Co. Says Writedowns May Reach $1.3 Trillion (Update3)
By Tom Cahill and Poppy Trowbridge
June 18 (Bloomberg) -- John Paulson, founder of the hedge fund company Paulson & Co., said global writedowns and losses from the credit crisis may reach $1.3 trillion, exceeding the International Monetary Fund's $945 billion estimate.
``We're only about a third of the way through the writedowns,'' Paulson, 52, told the GAIM International hedge fund conference in Monaco today. ``There are a lot of problems out there and it will continue to be felt through the year. We don't see any signs of stabilizing.''
Paulson, whose New York-based company manages about $33 billion, made bets last year that subprime-mortgage debt would fall after he noticed ``bubble like'' prices. His Paulson Partners fund rose 18 percent a year since it started in 1994, and his main subprime-debt fund rose 591 percent last year. Banks and securities firm worldwide posted more than $395 billion in losses and writedowns since the subprime crisis started last year.
The U.S. is heading into a recession as falling home prices weigh on consumer spending, Paulson said. The second half of this year will be worse than the first as the economic slowdown spills into 2009. Signs of stress are ``accelerating'' in the housing market, and he's betting on falling securities prices, he said.
``I don't consider myself a bull or a bear,'' he told the audience at Monaco's Grimaldi Forum. ``I'm a realist.''
A Royal Bank of Scotland Group Plc strategist agrees that stock and credit markets still face the worst in a slump that started almost eight months ago.
`Most Bearish Period'
``Mid-July through to October is likely to be the most bearish period we will experience in the bear market that began in the fourth quarter of last year,'' Bob Janjuah, a credit strategist at the bank in London, wrote in a report dated June 11.
The MSCI World Index has lost 13 percent since a reaching a record in October. The index is down 4.1 percent this month after the Federal Reserve and the European Central Bank policy makers indicated interest rates may need to increase as the threat of inflation intensifies.
The economic slowdown and inflation have put central bankers ``into a dangerous corner'' where the chance of a ``major policy error has just super-spiked,'' Janjuah wrote.
Ambac Financial Group Inc., the second-biggest bond insurer, is ``the most leveraged, troubled company out there,'' Paulson said. It's at risk of being downgraded to non-investment grade, he said. Ambac spokeswoman Vandana Sharma declined to comment.
Ambac shares have lost 92 percent of their value this year after losses on subprime mortgage securities caused the company to lose its AAA credit rating at Fitch Ratings.
`Deteriorate Significantly'
The housing and credit-market slump pushed Ambac to three straight quarterly losses after more than a decade of profit. It has written down $5.2 billion since the collapse of the U.S. subprime mortgage market last year.
Paulson's outlook is consistent with the view of hedge funds meeting in Monaco this week. More than 80 percent of the 1,300 fund managers, investors and service providers gathered in Monaco for the annual conference said they expect the credit crisis will continue, according to a GAIM survey. About 23 percent said the situation ``will deteriorate significantly.''
Bill Browder, founder and head of Hermitage Capital Management, said securities firms have a ``vested interest'' in claiming an early end to the crunch. ``If we're in the seventh or eighth inning, this is a 100-inning game,'' he said.
`$10 Trillion Opportunity'
Paulson's speech was the biggest draw at the event, which comes as the hedge fund industry endures some of its worst performance in nearly two decades, rising just 0.13 percent through May, according to Chicago-based Hedge Fund Research Inc.
``John Paulson has of course been very successful by making the right trade last year,'' said Manuel Echeverria, chief investment officer of Optimal Investment Services SA, a Geneva based investor with about $10 billion under management. ``We'll have to see what he's going to do now that the trade has run out of juice.''
Paulson said he's preparing to buy distressed securities such as bank loans, call them a ``potentially $10 trillion opportunity.'' While it is still ``premature'' to invest in many of them, he sees ``opportunities this year'' to buy mortgage backed debt, he said.
He hired employees this year to research securities firms such as Citigroup Inc. for long-term investment positions. ``We're trying to see the right entrance point,'' he said. ``If you invest too early, you lose money.''
To contact the reporter for this story: Poppy Trowbridge in London at ptrowbridge@bloomberg.net
[link to www.bloomberg.com] |
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Anonymous Coward
User ID: 454070
6/18/2008 4:46 PM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
I wonder what the exchange rate will be for Ameros. |
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Jaco
User ID: 342053
6/18/2008 4:51 PM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
Who do you believe????????
Why We're Gloomier Than The Economy
Consumer Anxiety Outstrips the Data
By Neil Irwin
Washington Post Staff Writer
Wednesday, June 18, 2008; A01
Ask Americans how the economy is doing, and their answer is stark: It is not just bad, it is run-for-the-hills terrible. Consumer confidence is at its lowest level in almost 30 years. Only 12 percent of Americans think the economy is in good shape. On the Internet, comparisons to the Great Depression are widespread.
But the reality is different. According to most broad measures of how the economy is doing, it's not all that grim.
Soft? You betcha. In recession? Quite possibly. And a crisis in the financial markets has rattled nerves for months now. But so far, the economy is holding up better than it did during the last two recessions in 1990 and 2001. Employers haven't shed as many jobs, the unemployment rate is still relatively low, and gross domestic product has kept rising. Things are nowhere near as bad as they were in the Great Depression, or even during the severe recession of 1982-83. The last time consumers were this miserable, in May 1980, the jobless rate was 7.5 percent and inflation was 14.4 percent. Now those numbers are 5.5 percent and 4.2 percent respectively.
This paradox has created a unique challenge for those guiding the economy, who worry that Americans' pessimistic views will become a self-fulfilling prophecy. Two-thirds of the economy is consumer spending. So if people's negative outlook leads them to cut their spending, a steeper downturn could happen.
This has left economists trying to figure out why Americans' perceptions are so much more negative than the data analysts use to measure how things are going.
"We're saying that we feel a lot worse than we did at the depths of the last recession, when we had had 2 or 3 million job losses, that we feel worse than we did after
9/11," said William Cheney, chief economist of John Hancock Financial Services. "At some level, that just doesn't make a whole lot of sense."
But through the prism of daily experience, it may.
The run-up in gasoline and food prices, for example, appears to affect people's perception of how they're doing more than a similar price rise in other goods.
Eric J. Johnson, who studies behavioral economics at Columbia Business School, offers this example: Someone who has to pay an extra $25 to fill up his car is reminded of that cost once a week -- or more often if you count the times he is driving down the road and sees the $4 per gallon price in giant numbers on a sign. Technically, he is no worse off than if his rent had increased by $100 a month. But it feels a lot worse.
"Things that you buy more frequently and that have large percentage increases will weigh more in people's perception of inflation," Johnson said.
Not only that, but increases in the price of gasoline and food affect almost everyone.
"If the unemployment rate goes from 5 to 7 percent, that affects 2 percent of the population," said Michael Feroli, an economist at J.P. Morgan Chase. "If gas prices go up, almost 100 percent of the population feels terrible."
Another possibility: Americans have been unnerved by the financial crisis that was a major cause of this broader economic slowdown. The credit crisis has spilled from one part of the financial markets to another. At times, the wheels of global capitalism have appeared to be at risk of coming off.
Although trouble in the financial sector is not the same as a generalized disorder of the economy, ordinary Americans may not make that distinction.
Another factor is that homes are losing value -- and this reduces the wealth of more people than a plummeting stock market like that of 2001. Currently, 68 percent of Americans own their home. In 2001, only 21 percent owned stocks directly.
Moreover, housing values literally hit closer to home. A person's stock holdings can seem like a paper abstraction. But the value of the four walls that a person calls home is more tangible and can seem more secure even though it may be every bit as volatile.
Wellesley College economist Karl E. Case and two co-authors researched how changes in the value of homes affect what people spend and got a curious result: When home prices are rising, people spend more money. When they are dropping, they don't spend less money. With stocks and other assets, by contrast, spending both rises and falls with prices.
"People spend more when house prices go up and worry more when prices go down, but don't actually spend much less," Case said. "That could explain why consumer spending numbers have been much more robust than you would expect if you look at consumer sentiment."
Some analysts attribute Americans' negative views on the economy to media coverage, which tends to play bad news more prominently than good news. There is ample research proving that, say, a drop in the stock market or rise in the unemployment rate gets more extensive news coverage than a move in the reverse direction. (In other news, newspapers tend to cover plane crashes more extensively than a safe landings).
But that has been true during past downturns. There is no obvious reason that it would be more pronounced now than in 2001 or 1990, when consumer confidence did not drop as much as it has recently.
The biggest reason for people's gloom might be because of what they're used to. In the 1980s and '90s, memories of the double-digit unemployment and double-digit inflation from the 1970s were still fresh.
"People expected very little out of the economy," said Richard Curtin, who has administered the University of Michigan's survey of consumer sentiment for 35 years. "Compared to what their frame of reference was, the performance of the economy was absolutely tremendous."
But now, coming off two decades of prosperity and low inflation, Americans have come to treat low unemployment and inflation as givens. We have gotten so used to things being good, in other words, that even when conditions become somewhat bad, it feels terrible.
[link to www.washingtonpost.com] |
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BRIEF AND TO THE POINT
User ID: 381742
6/18/2008 4:51 PM
| | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
I wonder what the exchange rate will be for Ameros. Quoting: Anonymous Coward 454070
One penny on the Dollar. No shit. I'll try to find the source.
Thanks for the vote btw. |
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Anonymous Coward
User ID: 352356
6/18/2008 5:07 PM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
Just in on BBC Newsnight (broadcast, no link): Energy is expecteed to rise by 40% this year, from now to the end of the year.
That's 40% up on what we pay now. |
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Anonymous Coward
User ID: 447201
6/18/2008 5:37 PM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
ehmmm..
DIE DOLLAR DIE
BURN STOCK MARKET BURN
CEASE FEDERAL RESERVE CEASE |
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anonomous
User ID: 454022
6/18/2008 6:16 PM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
OPEC CARTELS knew worldwide economies would sink after oil reached 50 barrel..from the islamist terror war designed to transfer worlds wealth into Arab Persian hands..via oil hikes....global oil consuption continued to slid.so opec keep jacking prices for needed funds to buy up assets on a global scale ..in all nations..for future manipulation once again as they have done with oil prices......american europe china south americans and vast media support of Iran nuke goals assisted in oil price spikes which have helped destoy global economies cost of security in all nations also helped to drive up inflation..support for palastine efforts to bomb israel helped drive up oil..support for Al-sadre militia against iraqis helped drive up oil.support for Hizballah war against Lebanon drove up oil... all of these militias were supported by Iran..Iran thanks you for your suport in destroying you own ecnomies by supporting iran and terrorist everywhere who needed thier rights protected......oh, but now u are going broke so u should call iran for money......to save your countries..lol...you fools.. |
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Anonymous Coward
User ID: 454251
6/18/2008 6:51 PM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
I wonder what the exchange rate will be for Ameros. Quoting: Anonymous Coward 454070
1 to 10 ? |
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JezåBella
User ID: 405819
6/18/2008 7:01 PM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
OPEC CARTELS knew worldwide economies would sink after oil reached 50 barrel..from the islamist terror war designed to transfer worlds wealth into Arab Persian hands..via oil hikes....global oil consuption continued to slid.so opec keep jacking prices for needed funds to buy up assets on a global scale ..in all nations..for future manipulation once again as they have done with oil prices......american europe china south americans and vast media support of Iran nuke goals assisted in oil price spikes which have helped destoy global economies cost of security in all nations also helped to drive up inflation..support for palastine efforts to bomb israel helped drive up oil..support for Al-sadre militia against iraqis helped drive up oil.support for Hizballah war against Lebanon drove up oil... all of these militias were supported by Iran..Iran thanks you for your suport in destroying you own ecnomies by supporting iran and terrorist everywhere who needed thier rights protected......oh, but now u are going broke so u should call iran for money......to save your countries..lol...you fools.. Quoting: anonomous 454022
well the coward has a point ..... ......we have left ourselves vulnerable....distracted by war, attacked from the ass end.....just bend us over and rip us a new one already ...no need to rub our face in it. Bastards.
"Be who you are and say what you feel because those who mind don't matter and those who matter don't mind."
~ Dr. Seuss |
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Anonymous Coward
User ID: 368888
6/18/2008 7:06 PM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
I wonder what the exchange rate will be for Ameros. Quoting: Anonymous Coward 454070
Why would anyone living in USA accept an exchange rate of one to one for another fiat money?
If it was backed by gold or silver, fine.
It could not be backed by gold or silver if exchange rate was one to one because we currently do not have enough gold/silver to back the quantity of fiat money we are now using. How would we back the quantity of fiat money that we would be using. There would be no difference!
Amero Exchange Rate Estimate
$1 Amero= $1 USD
$1 Amero= $1 CND
$1 Amero= 10 Mexican Peso's
based on these two websites:
[link to ezinearticles.com]
[link to ameroblog.blogspot.com] |
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Anonymous Coward
User ID: 368888
6/18/2008 7:09 PM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
OPEC CARTELS knew worldwide economies would sink after oil reached 50 barrel.. Quoting: anonomous 454022
If we were smart, we would dig now for oil in gulf and in Alaska. Stop importing oil once these are up and running. |
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Anonymous Coward
User ID: 452582
6/18/2008 7:24 PM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
When should we take our money out of the bank? |
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fnord
User ID: 454265
6/18/2008 7:26 PM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
It's easy to wish for an end to the current system.
However, as long as the American people remain in denial and ignorance, anything the powers that be invent to replace the existing system will be worse.
Efforts at education of the guy on the street are the only hope we have to turn around the drift toward totalitarian slavery. |
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Anonymous Coward
User ID: 454193
6/18/2008 7:47 PM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
It's easy to wish for an end to the current system.
However, as long as the American people remain in denial and ignorance, anything the powers that be invent to replace the existing system will be worse.
Efforts at education of the guy on the street are the only hope we have to turn around the drift toward totalitarian slavery. Quoting: fnord 454265
Yeah; same old story here in the UK.
We've just come full smack into the NWO and the idiots on the street don't even know it yet.
RIP democracy
:-( |
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BRIEF AND TO THE POINT
User ID: 454290
6/18/2008 8:20 PM
| | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
I wonder what the exchange rate will be for Ameros.
1 to 10 ? Quoting: Anonymous Coward 454251
No; 100:1 . One hundred Dollars will be worth One Amero according to Dr. Deagle...Sorry ran out of time to find the link. Youtube Dr. Deagle. |
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BRIEF AND TO THE POINT
User ID: 454290
6/18/2008 8:24 PM
| | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
When should we take our money out of the bank? Quoting: Anonymous Coward 452582
Be diversified. Keep cash on hand, be debt free, and invest wisely. Some of your wealth should be food and supplies based on what you think you will need. |
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BRIEF AND TO THE POINT
User ID: 454290
6/18/2008 8:29 PM
| | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
OPEC CARTELS knew worldwide economies would sink after oil reached 50 barrel..
If we were smart, we would dig now for oil in gulf and in Alaska. Stop importing oil once these are up and running. Quoting: Anonymous Coward 368888
Bush is pushing for this now.
[link to news.yahoo.com]
WASHINGTON - With gasoline topping $4 a gallon, President Bush urged Congress on Wednesday to lift its long-standing ban on offshore oil and gas drilling, saying the United States needs to increase its energy production. Democrats quickly rejected the idea.
"There is no excuse for delay," the president said in a statement in the Rose Garden. With the presidential election just months away, Bush made a pointed attack on Democrats, accusing them of obstructing his energy proposals and blaming them for high gasoline costs. His proposal echoed a call by Republican presidential candidate John McCain to open the Continental Shelf for exploration
"Families across the country are looking to Washington for a response," Bush said.
Congressional Democrats were quick to reject the push for lifting the drilling moratorium, saying oil companies already have 68 million acres offshore waters under lease that are not being developed.
House Speaker Nancy Pelosi called Bush's proposals "another page from (an)... energy policy that was literally written by the oil industry — give away more public resources."
Sen. Barack Obama, the Democrats' presumptive presidential nominee, rejected lifting the drilling moratorium that has been supported by a succession of presidents for nearly two decades.
"This is not something that's going to give consumers short-term relief and it is not a long-term solution to our problems with fossil fuels generally and oil in particular," said Obama. Senate Majority Leader Harry Reid, lumping Bush with McCain, accused them of staging a "cynical campaign ploy" that won't help lower energy prices.
"Despite what President Bush, John McCain and their friends in the oil industry claim, we cannot drill our way out of this problem," Reid said. "The math is simple: America has just three percent of the world's oil reserves, but Americans use a quarter of its oil."
White House spokesman Tony Fratto retorted: "Anyone out there saying that something can be done overnight, or in a matter of months, to deal with high gasoline prices is trying to fool people. There is no tool in the toolbox out there that will lower gas prices overnight, or in weeks, or probably not even in months."
Bush said offshore drilling could yield up to 18 billion barrels of oil over time, although it would take years for production to start. Bush also said offshore drilling would take pressure off prices over time.
There are two prohibitions on offshore drilling, one imposed by Congress and another by executive order signed by Bush's father in 1990. Bush's brother, Jeb, fiercely opposed offshore drilling when he was governor of Florida. What the president now proposes would rescind his father's decision — but the president took the position that Congress has to act first and then he would follow behind.
Asked why Bush doesn't act first and lift the ban, Keith Hennessey, the director of the president's economic council, said: "He thinks that probably the most productive way to work with this Congress is to try to do it in tandem."
Before Bush spoke, the House Appropriations Committee postponed a vote it had scheduled for Wednesday on legislation doing the opposite of what the president asked — extending Congress' ban on offshore drilling. Lawmakers said they wanted to focus on a disaster relief bill for the battered Midwest.
Bush also proposed opening the Arctic National Wildlife Refuge for drilling, lifting restrictions on oil shale leasing in the Green River Basin of Colorado, Utah and Wyoming and easing the regulatory process to expand oil refining capacity.
With Americans deeply pessimistic about the economy, Bush tried to put on the onus on Congress. He acknowledged that his new proposals would take years to have a full effect, hardly the type of news that will help drivers at the gas stations now. The White House says no quick fix exists.
Still, Bush said Congress was obstructing progress — and directly contributing to consumers' pain at the pump.
"I know the Democratic leaders have opposed some of these policies in the past," Bush said. "Now that their opposition has helped drive gas prices to record levels, I ask them to reconsider their positions."
Bush said that if congressional leaders head home for their July 4 recess without taking action, they will need to explain why "$4 a gallon gasoline is not enough incentive for them to act. And Americans will rightly ask how high gas prices have to rise before the Democratic-controlled Congress will do something about it."
Bush said restrictions on offshore drilling have become "outdated and counterproductive."
In a nod to the environmental arguments against drilling, Bush said technology has come a long way. These days, he said, oil exploration off the coastline can be done in a way that "is out of sight, protects coral reefs and habitats, and protects against oil spills."
Congressional Democrats, joined by some GOP lawmakers from coastal states, have opposed lifting the prohibition that has barred energy companies from waters along both the East and West coasts and in the eastern Gulf of Mexico for 27 years.
On Monday, McCain made lifting the federal ban on offshore oil and gas development a key part of his energy plan. McCain said states should be allowed to pursue energy exploration in waters near their coasts and get some of the royalty revenue.
Obama retorted that the Arizona senator had flip-flopped on that issue. |
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Anonymous Coward
User ID: 446462
6/18/2008 8:33 PM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
here's some cnbc video footage on the topic
[link to www.cnbc.com] |
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nobody
User ID: 454315
6/18/2008 9:06 PM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
People get the government they deserve and the US is gonna get it good and hard....James Dines |
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Anonymous Coward
User ID: 437817
6/18/2008 10:18 PM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
It may look bad, but we can borrow our way out of this. It's never too late to dig the hole deeper. By the time the Federal Debt reaches $30 trillion we will have achieved a permanent plateau of prosperity. |
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Anonymous Coward
User ID: 436143
6/18/2008 10:24 PM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
I wonder what the exchange rate will be for Ameros.
One penny on the Dollar. No shit. I'll try to find the source.
Thanks for the vote btw. Quoting: BRIEF AND TO THE POINT
Holy Cow! |
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Anonymous Coward
User ID: 454350
6/18/2008 10:29 PM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
With unfunded future liabilities we are allready OVER 70 Trillion.... |
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Anonymous Coward
User ID: 454357
6/18/2008 10:50 PM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
"Globalisation was always going to risk putting G7 bankers into a dangerous corner at some point. We have got to that point," he said.
What a load... globalisation is only helping the bankers. It's what they've been salivating over for the last couple hundred years. |
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Anonymous Coward
User ID: 454357
6/18/2008 10:54 PM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
"The run-up in gasoline and food prices, for example, appears to affect people's perception of how they're doing more than a similar price rise in other goods.
Eric J. Johnson, who studies behavioral economics at Columbia Business School, offers this example: Someone who has to pay an extra $25 to fill up his car is reminded of that cost once a week -- or more often if you count the times he is driving down the road and sees the $4 per gallon price in giant numbers on a sign. Technically, he is no worse off than if his rent had increased by $100 a month. But it feels a lot worse.
"Things that you buy more frequently and that have large percentage increases will weigh more in people's perception of inflation," Johnson said."
Another load... gas has gone up WAY more than $25.00 a week for the average family. In addition, gas prices affect the price of every other commodity or service because it is something we all use and need. Because of gas prices, the price of everything else has gone up as well.
This was planned as well. But we all know that. |
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Anonymous Coward
User ID: 437522
6/18/2008 11:14 PM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
im thinking about renting the new sonata 2009 for 48 months .....should i take the bus instead? |
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Anonymous Coward
User ID: 437959
6/19/2008 12:15 AM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
I wonder if I would be crazy to be considering buying a house right now? I rent and live in the city. I don't want to be in debt, but I do feel the need to get out of the city and have a garden and my own land. Anyone know if this is a good time to buy my first house? I don't plan to get one no more than the mortgage would be that I am now paying in rent. |
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Ignatius J. Reilly
User ID: 417021
6/19/2008 2:54 AM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
Dudes, when playing monopoly, everyone knows that when the game is over, you just start another game. |
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Anonymous Coward
User ID: 454461
6/19/2008 3:25 AM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
Welcome to the future: plutocratic oligarchy. It's now. |
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Anonymous Coward
User ID: 454212
6/19/2008 4:18 AM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
One of these days a hard rain is going to come down and wash them all away, as famous Human Interface Guidelines guru Travis Bickle once said. |
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Anonymous Coward
User ID: 454222
6/19/2008 5:20 AM | | Re: RBS advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months | Quote |
It may look bad, but we can borrow our way out of this. It's never too late to dig the hole deeper. By the time the Federal Debt reaches $30 trillion we will have achieved a permanent plateau of prosperity. Quoting: Anonymous Coward 437817
 
No really, it's the evil Muslim's fault....really.....because I said so. |
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