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Black Monday

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its time for a black Monday as Ive just been informed of a serious change at my bank.

last Month, pay in a cheque from a client whose account is at the same branch as my own...cleared same day...of course, its an internal journal.

Today, some guy in front of me pleading for a cheque to be cleared tommorrow...( nice BMW outside)...clerk said no, thatll be 4 days.

He leaves, shoulders up, gets in car, and starts banging the passenger seat....I guess he has a cash flow issue...but thats another story, we've all had them.

I approach the cashier, who knows me, and i ask can she clear this payment same day....she looks at me with that knowing wry smile, and said, no, its 4 days.

I laughed, thinking she was playing along, so I pretended, disgust and said, wow, Ill take my oiverdraft elsewhere.

She said, no, Im not joking, it takes 4 days to clear a same branch cheque now.

really?...Oh Yes.

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Welcome to the club... I think you should know by now that you are not allowed to merely call one but you have to give your reasoning otherwise it does not count.

Over to you RK.

I have to be right and give my reasoning?

Jesus TMT, you're hard to please.

If I'm right I shall be charging for my reasoning in future. If I'm wrong then hopefully no-one shall remember. :D

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I have to be right and give my reasoning?

Jesus TMT, you're hard to please.

If I'm right I shall be charging for my reasoning in future. If I'm wrong then hopefully no-one shall remember. :D

The ladies don't call me The Master for nothing... Ooh, Dr. Who!?

Why don't you share some of your, if I say so myself, excellent thoughts that you have posted on the financial forum in recent days... but put it into simple numpty English that the likes of me can understand.

If you post a chart I am going to hunt you down.

Joking aside, things do appear to be moving into panic mode in the past 72 hours. Eire is now firmly on informed people's minds but I think all your stuff about double tops, head and shoulders, etc, would be useful as to why you think we are close to some kind of big downturn in the markets.

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Global markets hit by tighter Chinese bank rules
Global stock markets hit by tighter Chinese bank lending rules, Irish debt fears
Pan "Panacetass" Pylas, AP Business Writer, On Wednesday November 10, 2010, 11:47 am
) -- This week's stock market sell-off gathered pace Wednesday after China's central bank sought to rein in bank lending and amid concerns over Ireland's ability to push through another round of austerity measures as it grapples with massive debts.

Bleak days ahead for stocks? Seems not as the BoE say plain sailing ahead as recoverh has locked in and no need for QE2.

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By going 'hard deflationist bear' recently, I suppose I have unconsciously called the equivalent of a 'black Monday' for some point in the indeterminate future. Here's hoping you are right. (And that you're not for everyone else.)

I blame the recent firings at the Large Hardon Collider, stimulating conditions found at the beginning of banking.

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Everyone should subject themselves to 'Black Day' ridicule at least once.

This is my submission.

Thanks for the heads up and good luck with your call. Someone on this site will get it right one day, we just need to keep trying :)

Edited by _w_
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Cisco fell 3 bucks or about 12% after the bell tonight.

Why is TMT posting this nonsense I hear you say? Well, Cisco is now considered a bellweather stock for the US and wider global economy. You know that.

It just released its latest figures and Chambers was quoted: "We have seen capital spending moderate in some areas of our business.".

That only happens when economies are slowing, when companies are reigning in and stopping spending.

But more interestingly the NASDAQ is within a few points of its 2007 post-dot.con high - i.e. the high that the NASDAQ reached after the dot.con collapse in 2000/01.

Another market that is frothy bearing in mind the conditions that Cisco is reporting. Gold?

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  • 415 Brexit, House prices and Summer 2020

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      • down 5% +
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      • Even
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      • up 5%

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