Tuesday, March 18, 2008

Apocalyptic Financial News

UK facing worst financial crisis 'in decades'

"On a chaotic day in the City, the pound suffered its worst one-day fall since Black Wednesday in 1992 amidst fears of a growing global recession."

Posted by quiet guy @ 01:25 AM (629 views)
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2 thoughts on “Apocalyptic Financial News

  • ‘The Prime Minister, Gordon Brown, promised to take “whatever action is necessary” to maintain economic stability.’

    Yeah?? Then how about resigning…?

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  • I ESPECIALLY like this sentence from the article: “It also emerged that three million homeowners face an increase of up to £300 a month in their mortgage bill as they have to take out new home loans at a much higher interest rate than when they were first arranged.”

    How many mortgage holders, holding debts that are pushing them to the hilts because of their own stupidity, will be able to stand this type of pressure. I think higher repossessions are increasingly likely, and this will lead to a position of oversupply within the housng market.

    But I’m not selling my gold till we reach $1800 an ounce!

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