rantnrave Posted June 23, 2011 Share Posted June 23, 2011 What's the immediate spark here? Oil is down 5% ish today, FTSE has lost 1.5%, £ below $1.60... Quote Link to comment Share on other sites More sharing options...
Deckard Posted June 23, 2011 Share Posted June 23, 2011 (edited) http://www.housepricecrash.co.uk/forum/index.php?showtopic=164689 it's contained Edited June 23, 2011 by Greener Pastures Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted June 23, 2011 Share Posted June 23, 2011 Was just about to post the same. Quote Link to comment Share on other sites More sharing options...
Agentimmo Posted June 23, 2011 Share Posted June 23, 2011 The spark is that no-one has any money to buy tat. Wages haven't been going up for the last 5yrs in the West. No doubt Govts will be "surprised" that demand has dropped. The free money to banks and big business is drying up. Either give them some more or else, ... or else... Quote Link to comment Share on other sites More sharing options...
rantnrave Posted June 23, 2011 Author Share Posted June 23, 2011 (edited) The spark is that no-one has any money to buy tat. Wages haven't been going up for the last 5yrs in the West. No doubt Govts will be "surprised" that demand has dropped. The free money to banks and big business is drying up. Either give them some more or else, ... or else... No breaking news in any of that lot though. EDIT - Has Cheryl Cole's X-Factor dismissal been confirmed??? Edited June 23, 2011 by rantnrave Quote Link to comment Share on other sites More sharing options...
Agentimmo Posted June 23, 2011 Share Posted June 23, 2011 No breaking news in any of that lot though. Nope. Not if you are a regular on this site Sun readers might be shocked by it though Quote Link to comment Share on other sites More sharing options...
marmite Posted June 23, 2011 Share Posted June 23, 2011 Global stocks slid the most in three months and the euro weakened as U.S. jobless claims rose and European Central Bank President Jean-Claude Trichet said the debt crisis threatens banks. Oil slid as the International Energy Agency planned to release emergency stockpiles. http://www.bloomberg.com/news/2011-06-23/dollar-gains-as-asia-stocks-commodities-slide-after-fed-cuts-u-s-outlook.html Quote Link to comment Share on other sites More sharing options...
gravity always wins Posted June 23, 2011 Share Posted June 23, 2011 What's the immediate spark here? Oil is down 5% ish today, FTSE has lost 1.5%, £ below $1.60... Its a hissy fit as Benny the printer didn't deliver the goods yesterday. He can't just print willy nilly he has to wait for us to ask for more. The markets are asking for more funny money today. Printy, printy. Quote Link to comment Share on other sites More sharing options...
@contradevian Posted June 23, 2011 Share Posted June 23, 2011 (edited) The spark is that no-one has any money to buy tat. Wages haven't been going up for the last 5yrs in the West. No doubt Govts will be "surprised" that demand has dropped. The free money to banks and big business is drying up. Either give them some more or else, ... or else... +1 Edited June 23, 2011 by John Steed Quote Link to comment Share on other sites More sharing options...
VeryMeanReversion Posted June 23, 2011 Share Posted June 23, 2011 What's the immediate spark here? Oil is down 5% ish today, FTSE has lost 1.5%, £ below $1.60... Bernanke said no more QE yesterday. Share prices have been highly correlated with Fed QE/POMO purchases. No real buyers so price drops. I'm expecting big falls until they restart the printing press. Quote Link to comment Share on other sites More sharing options...
@contradevian Posted June 23, 2011 Share Posted June 23, 2011 Its a hissy fit as Benny the printer didn't deliver the goods yesterday. He can't just print willy nilly he has to wait for us to ask for more. The markets are asking for more funny money today. Printy, printy. No I don't think so. Its crash the market and buy everything back with the stolen loot phase, then rinse/repeat. They must think we are f*cking stupid not that we can do a lot about it, as people won't actually fight till they are starving. As long as X factor is on, and Tesco''s are well stocked with cheap booze and Pringles they will keep getting away with it. Quote Link to comment Share on other sites More sharing options...
sign_of_the_times Posted June 23, 2011 Share Posted June 23, 2011 wake me up when it drops > 10% (my definition of a daily crash) Quote Link to comment Share on other sites More sharing options...
cica Posted June 23, 2011 Share Posted June 23, 2011 As long as X factor is on, and Tesco''s are well stocked with cheap booze and Pringles they will keep getting away with it. A recurring very funny recurring joke although it's not a joke is it. It's completely true. Quote Link to comment Share on other sites More sharing options...
winkie Posted June 23, 2011 Share Posted June 23, 2011 Quote Link to comment Share on other sites More sharing options...
gravity always wins Posted June 23, 2011 Share Posted June 23, 2011 No I don't think so. Its crash the market and buy everything back with the stolen loot phase, then rinse/repeat. They must think we are f*cking stupid not that we can do a lot about it, as people won't actually fight till they are starving. As long as X factor is on, and Tesco''s are well stocked with cheap booze and Pringles they will keep getting away with it. Oh yes its all orchestrated, but he will print. And its precisely because we are a nation of losers that we will be begging for more printing. Quote Link to comment Share on other sites More sharing options...
steaky Posted June 23, 2011 Share Posted June 23, 2011 Oh yes its all orchestrated, but he will print. And its precisely because we are a nation of losers that we will be begging for more printing. I believe you are spot on. And my belief was so strong that I shorted the DOW last night after it's "oh so predictable" rise pre-speech. Fell about 150 points in 30 minutes...algos went crazy as there was no mention of QE3. QE3 will come to be sure but not until we've seen a 20% or so loss on the indexes. The US are all roped in with their 401Ks so they really do feel "poorer" when the stock market falls (even though stock market gains mean absolutely nothing while a currency is devaluing at the same rate). Plus since a lot of QE2 went into bailing out Euro banks and those same banks are as insolvent as ever..."we're going to need a bigger boat" Quote Link to comment Share on other sites More sharing options...
MrFlibble Posted June 23, 2011 Share Posted June 23, 2011 Its a hissy fit as Benny the printer didn't deliver the goods yesterday. He can't just print willy nilly he has to wait for us to ask for more. The markets are asking for more funny money today. Printy, printy. +1 Banksters want their dummy back. Quote Link to comment Share on other sites More sharing options...
R K Posted June 23, 2011 Share Posted June 23, 2011 buying opp. 2nd bite of the cherry Quote Link to comment Share on other sites More sharing options...
urban_hymn Posted June 23, 2011 Share Posted June 23, 2011 FTSE 100 back at 1998 levels. Now that's what I call tading sideways!!! (and that's with the underperformers regularly booted out) If only I could find a continuous UK stock index using the same components for say 30 years. Anybody? Quote Link to comment Share on other sites More sharing options...
Nationalist Posted June 23, 2011 Share Posted June 23, 2011 Wage inflation: 2%, price inflation: 5% Result: economic decline by 3% And it's cumulative. Next year the decline will be 6%, then 9% the year after and so on. It's not physically possible for the economy to experience genuine growth in this environment. (Artificial QE type growth is possible, but as soon as you remove the stimulus the economy will fall back.) Quote Link to comment Share on other sites More sharing options...
_w_ Posted June 23, 2011 Share Posted June 23, 2011 Its a hissy fit as Benny the printer didn't deliver the goods yesterday. +1 Suddenly every piece of news is interpreted as being bad news. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted June 23, 2011 Share Posted June 23, 2011 Stocks, commodities, oil, metals, all down..... it's deflation . Quote Link to comment Share on other sites More sharing options...
leicestersq Posted June 23, 2011 Share Posted June 23, 2011 +1 Suddenly every piece of news is interpreted as being bad news. When you put it that way, it must be very bad indeed. Quote Link to comment Share on other sites More sharing options...
Georgia O'Keeffe Posted June 23, 2011 Share Posted June 23, 2011 Stocks, commodities, oil, metals, all down..... it's deflation . fondue and raclette still holding up though Quote Link to comment Share on other sites More sharing options...
rantnrave Posted June 23, 2011 Author Share Posted June 23, 2011 Well here's one piece of the puzzle... Oil price drops on reserve sale Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.