Thursday, Feb 04, 2010
All in the same boat
The Times: Stock markets plunge over Europe debt fears
European and American stock markets plunged yesterday as investors took fright over the difficulties in debt-ridden countries such as Greece and Portugal and fears mounted over the health of the world’s biggest economy.
There were concerns that Greece may not meet its tough budget plans as workers started the first in a wave of strikes, prompting worries that Spain, Portugal and the Irish Republic may also struggle to cut their soaring debts
This came as the Monetary Policy Committee (MPC) of the Bank of England voted to call a halt to quantitative easing...However, it gave warning that repairing the UK’s public finances would weigh on consumer spending.
Posted by devo @ 10:51 PM (683 views) Add Comment
5 Comments
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1. freemanphil said...
Wow. You think they want a deflationary depression? Are they really ready for this? Or are they just playing chicken. Maybe a false flag event to justify more money printing? 9/11 led to more money printing.
2. novice pete said...
Sorry, this is just an experiment in old hippyism.
3. Crunchy said...
1. freemanphil
That's very unsporting of you to nip everything in the bud with one short post.
"How dare you." - William J Clinton.
4. freemanphil said...
Gold plunged $40 and, whilst it broke out new lows in dollars, it held prior supports in Sterling and Euro. Looks like the sovereign debt issue is what is rattling the markets.
5. hpwatcher said...
Is this - from the times blog - correct?
UK's public and private debt is 470% of GDP.