Tuesday, May 15, 2007
The debt has to be destroyed
Market Oracle: US Recession in 2007 - Third Leg of the Bear Market Likely
Quote: "We believe "severe macroeconomic repercussions" are highly likely and that "banking system capital" will be impaired. Continuing from our previous article " Credit Extreme Emotion ," the comparison to the 1930-1933 period is striking. Stock market patterns, debt levels, interest rate cycles, sentiment levels, and banking reserves are all aligning for a credit crunch and major asset deflation."
Posted by sold 2 rent 1 @ 03:29 PM (362 views) Add Comment
7 Comments
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1. dohousescrashinthewoods said...
See that mattriss? That's where ah keep me cash - ander their. Ah don't trast thim banks noe maw.
Not since moi BTL awl wen pear. Then they flippin lost me sayvins too.
No penshen wif Brown, hairses awl gawn an naafnk in the bank to boot.
Oai'm gattid mate. Fought I wes on the rowd te richhiz an nair look et me!
(sic.)
2. Planetmervyn said...
Old Moore's Astrological Almanac has been comparing this decade to the 1920s complete with a correction at the end, since 2003.
3. sirgoogle said...
This time next year we'll be millionaaires
4. talking rot said...
I have all my savings in ISAs, except for about pounds 10K in ICEsave account. Can anyone tell what if I'd loose much of its value in a recession / depression as suggested by this gloomy article? If I will, what should I invest in? Gold?
5. sirgoogle said...
Talking...
I really do not know - we have some shares in financial inst, bonds and lots of saved cash in GBR and EUR.... problem however is judging how exposed the banks are. However thay all give out huge loans on property - so my best guess is to stick with the big ones Halifax/BOS, Standard Life etc, even though their products are boring, they are sooo big that they should be the last to collapse in a recession.
6. Orwell said...
Yes tell me I have £9k in ISA, £7k in shares, £10k in the bank and £5k owed by creditors and £2k in another persons account (preferred i.e the govt).
Who actually has all this money to spend? My friends are in the same position - on strike as the Observer article suggested - so please who is taking on this negative equity ? (i.e 110 per cent mortgages ) it isn't me !!!
7. sold 2 rent 1 said...
TR,
I am completely out of the stock market now.
Endowment cashed in. Pension switched to Treasury gilts fund.
My ISAs have been transferred to Treasury guilts for now
The rest is in high interest Euro and GBP banks.
I am waiting for the crash of 2007 later this year.
Once that happens I am piling into gold bigtime.
I need to investigate some safer banks for my cash later this summer. The safest banks will probably pay low rates so I am leaving it as late as possible before switching.