Quicken Posted December 6, 2018 Share Posted December 6, 2018 (edited) Old timers will remember the great tradition of FTSE down 2% threads from years gone by. Full of predictions of impending market Armageddon that never quite materialised. Since the FTSE is indeed down 2% again, it's high time for a festive reunion. Anyone remember those threads? Is this the big one? Make your views known. Cheers, Q Edited December 6, 2018 by Quicken Quote Link to comment Share on other sites More sharing options...
simon49 Posted December 6, 2018 Share Posted December 6, 2018 It has the potential to be the big one, especially with a muddled brexit behind it. Quote Link to comment Share on other sites More sharing options...
No One Posted December 6, 2018 Share Posted December 6, 2018 I am getting a little bit tired of waiting for "the happening". It's all due to government intervention, and central banks too Quote Link to comment Share on other sites More sharing options...
Freki Posted December 6, 2018 Share Posted December 6, 2018 It was a bit my view, is this Huawei daughter, the black swan event that will trigger something bigger. The first thing that sprung to my mind this morning reading the news, was the assassination of Franz Ferdinand. Quote Link to comment Share on other sites More sharing options...
simvastatin Posted December 6, 2018 Share Posted December 6, 2018 47 minutes ago, Freki said: It was a bit my view, is this Huawei daughter, the black swan event that will trigger something bigger. The first thing that sprung to my mind this morning reading the news, was the assassination of Franz Ferdinand. Ukraine has just called up her reserves, this is a franz Ferdinand moment Quote Link to comment Share on other sites More sharing options...
chronyx Posted December 6, 2018 Share Posted December 6, 2018 Next Monday, we'll all be back at work as usual, and the weather will be grey and rainy, as usual. News of the FTSE will have been relegated by something about peas being Islamophobic. Quote Link to comment Share on other sites More sharing options...
simvastatin Posted December 6, 2018 Share Posted December 6, 2018 16 minutes ago, chronyx said: Next Monday, we'll all be back at work as usual, and the weather will be grey and rainy, as usual. News of the FTSE will have been relegated by something about peas being Islamophobic. Lol you are right Quote Link to comment Share on other sites More sharing options...
Quicken Posted December 6, 2018 Author Share Posted December 6, 2018 Make that 3.3%. Black Thursday anyone? https://www.bbc.co.uk/news/business-46466903 "Stock markets in the US and Europe plunged on Thursday as fears about US-China trade tensions and global growth continue to mount. All three main Wall Street indexes fell more than 2%, with the Dow Jones Industrial Average sliding 700 points. In London the FTSE 100 tumbled 3.3%, or more than 200 points, to under 6,700 - its lowest level in two years. Falls on European markets were even sharper, with Paris and Frankfurst both shedding 3.5%. Oil prices also sank, with Brent crude 3% lower at $59.69 a barrel." Quote Link to comment Share on other sites More sharing options...
frederico Posted December 6, 2018 Share Posted December 6, 2018 Stocks are hopeless investments at the moment, financial system is a joke. Quote Link to comment Share on other sites More sharing options...
reddog Posted December 6, 2018 Share Posted December 6, 2018 2 hours ago, prozac said: Ukraine has just called up her reserves, this is a franz Ferdinand moment I am at the airport waiting to go to Poland. I hope you are not right!! Quote Link to comment Share on other sites More sharing options...
reddog Posted December 6, 2018 Share Posted December 6, 2018 What percent drop do you need for it to be a "black" day (I imagine I must be 5-10%) Quote Link to comment Share on other sites More sharing options...
simvastatin Posted December 6, 2018 Share Posted December 6, 2018 11 minutes ago, reddog said: What percent drop do you need for it to be a "black" day (I imagine I must be 5-10%) Like Alice said any number you want Quote Link to comment Share on other sites More sharing options...
simvastatin Posted December 6, 2018 Share Posted December 6, 2018 25 minutes ago, reddog said: I am at the airport waiting to go to Poland. I hope you are not right!! Use google, it is getting tense but I don’t think we will have WW3 this weekend you should be fine Quote Link to comment Share on other sites More sharing options...
Quicken Posted December 6, 2018 Author Share Posted December 6, 2018 1 hour ago, reddog said: What percent drop do you need for it to be a "black" day (I imagine I must be 5-10%) Yeah, it has a way to go yet. I was only jesting. It really needs to go over 6% in a day to get into the elite class of crashes (top ten since the FTSE 100 started in 1984). 3.3% might just squeeze into the top 100. https://www.telegraph.co.uk/investing/shares/30-years-since-black-monday-investors-remember-worst-day-ftses/ The biggest FTSE drops were Black Monday, 19th October 1987, 10.8%, and the following day 12.2%. The next largest three were both in October 2008, while the 6th largest was also in October 87. Quote Since the index launched in 1984, it has had 84 trading days with falls of more than 3pc, and 17 days with falls of more than 5pc. Q Quote Link to comment Share on other sites More sharing options...
Quicken Posted December 6, 2018 Author Share Posted December 6, 2018 (edited) 2 hours ago, frederico said: Stocks are hopeless investments at the moment, financial system is a joke. If someone told me in 2006 that I'd become a gold bug, I'd have slapped them. Interesting times these. Q Edited December 6, 2018 by Quicken Quote Link to comment Share on other sites More sharing options...
localhero1983 Posted December 6, 2018 Share Posted December 6, 2018 6 hours ago, chronyx said: Next Monday, we'll all be back at work as usual, and the weather will be grey and rainy, as usual. News of the FTSE will have been relegated by something about peas being Islamophobic. Mmm, get your point, or I would do normally. Negative Yield curve anyone, never been wrong in calling a recession yet Quote Link to comment Share on other sites More sharing options...
chronyx Posted December 6, 2018 Share Posted December 6, 2018 4 minutes ago, localhero1983 said: Mmm, get your point, or I would do normally. Negative Yield curve anyone, never been wrong in calling a recession yet Oh I agree with you, the point is when. Stopped clock etc. I think I have doom p0rn fatigue, so chances are it's TEOTWAWKI Quote Link to comment Share on other sites More sharing options...
localhero1983 Posted December 6, 2018 Share Posted December 6, 2018 9 minutes ago, chronyx said: Oh I agree with you, the point is when. Stopped clock etc. I think I have doom p0rn fatigue, so chances are it's TEOTWAWKI After so long now, bankers escaping what were blatant criminal charges , high debt, austerity and the financial crisis that was never repaired you start to believe the economy really must be indestructable now, and that's how I feel. But deep down I know it's not the case, and even though something deep down tells me that it is still going to crash I will be as surprised as anyone when it finally does. Quote Link to comment Share on other sites More sharing options...
macca13 Posted December 6, 2018 Share Posted December 6, 2018 (edited) Far right rise is Spanish elections far right lead polls in French survey Trump Italian 5 star banks are insolvent global debt 400% of global GDP Growth not high enough as debt continues to increase.. forcing governments to squeeze those that can least afford it further.. civil unrest, higher crime rates, crumbling infrastructure trade wars zombie companies house prices 17x wages in places share Buy backs coming to an end quantitive tightening interest rate rises starting to come QE no longer papering over the cracks as there is plenty of money but know one to lend too.. The global pensions deficit The global OAP health care funding problem continued 3rd world migration.. generation rent retire penniless onto benefits £27 billion housing each year and growing £32 billion working tax credits and growing soon to be retail voids.. unemployment rising as companies run out of borrowing? Have I missed anything Oh yeh Brexit.. ? almost forgot Edited December 6, 2018 by macca13 Quote Link to comment Share on other sites More sharing options...
localhero1983 Posted December 6, 2018 Share Posted December 6, 2018 3 hours ago, Quicken said: If someone told me in 2006 that I'd become a gold bug, I'd have slapped them. Interesting times these. Q Someone try telling Gordon Brown Quote Link to comment Share on other sites More sharing options...
localhero1983 Posted December 6, 2018 Share Posted December 6, 2018 4 minutes ago, macca13 said: Far right rise is Spanish elections far right lead polls in French survey Trump Italian 5 star banks are insolvent global debt 400% of global GDP Growth not high enough as debt continues to increase.. forcing governments to squeeze those that can least afford it further.. civil unrest, higher crime rates, crumbling infrastructure trade wars zombie companies house prices 17x wages in places share Buy backs coming to an end quantitive tightening interest rate rises starting to come QE no longer papering over the cracks as there is plenty of money but know one to lend too.. The global pensions deficit The global OAP health care funding problem continued 3rd world migration.. generation rent retire penniless onto benefits £27 billion housing each year and growing £32 billion working tax credits and growing soon to be retail voids.. unemployment rising as companies run out of borrowing? Have I missed anything Oh yeh Brexit.. ? almost forgot If only you was exaggerating, but you are not, how did it hold up for this long is beyond me Quote Link to comment Share on other sites More sharing options...
macca13 Posted December 6, 2018 Share Posted December 6, 2018 5 minutes ago, localhero1983 said: If only you was exaggerating, but you are not, how did it hold up for this long is beyond me It’s going to have to be one hell of a boom to get out of this hole! Can the rich get even richer! The poor even poorer! without something breaking? Who is going to take on the debt to keep it going, how much more debt can we take before the bubble is so big it’s impossible to burst without destroying fiat money itself! Quote Link to comment Share on other sites More sharing options...
localhero1983 Posted December 6, 2018 Share Posted December 6, 2018 2 minutes ago, macca13 said: It’s going to have to be one hell of a boom to get out of this hole! Can the rich get even richer! The poor even poorer! without something breaking? Who is going to take on the debt to keep it going, how much more debt can we take before the bubble is so big it’s impossible to burst without destroying fiat money itself! I made the same point somewhere else today, the errors of the Rich have seen the millions of poorest attempt to fix their mess while they got richer. Oh come on, someone who say made £3 Billion, can he not be all philosophical about it and accept that he can still have a great life with £2 Billion. Well he seems he couldn't and demanded £4 Billion, this is why so many people in the UK are now turning to populism. Quote Link to comment Share on other sites More sharing options...
24gray24 Posted December 7, 2018 Share Posted December 7, 2018 It seems to be a steady decline in stock markets so far, almost as if one unit is sold in the morning and two thirds of a unit is bought back in the afternoon. Given they're 50 % overvalued in terms of earnings I don't understand why everyone isn't just selling but they're not. People are buying as the market falls day after day. Quote Link to comment Share on other sites More sharing options...
rollover Posted December 7, 2018 Share Posted December 7, 2018 15 hours ago, prozac said: Ukraine has just called up her reserves, this is a franz Ferdinand moment The issue is gas related, but could be the trigger. Quote Germany’s economy minister dismissed suggestions that his country’s commitment to a pipeline - that will allow Russia to bypass Ukraine in pumping gas to Europe - undermines efforts to a de-escalate a crisis between the two neighbors. “Those are two separate questions.” Reuters Quote Link to comment Share on other sites More sharing options...
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