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Global financial system implosion begins

Ibex in Spain fell 12pc the biggest fall in its history. Anyone watching. MIlan fell 12pc too. FTSE only 3pc; big worries with Euro. Got told off on another thread as I described this as `tanked`.
 
Coolfonz said:
Ibex in Spain fell 12pc the biggest fall in its history. Anyone watching. MIlan fell 12pc too. FTSE only 3pc; big worries with Euro. Got told off on another thread as I described this as `tanked`.
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The markets appear to be sticking, so far, to their break down of EUrope modelling, yet EUrope seems hypnotised by the UK aspect.
 
coley said:
Keep coming to this thread in the hope there will be a posting I can come close to understanding
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Coley - don’t give up. John Kenneth Galbraith famously said: "The process by which money is created is so simple the mind is repelled.” A lot of the ‘complexity’ (to give it a polite term) is merely the attempt to accommodate the absurdity of a system that treats future growth as collateral for yesterday’s debt, and requires perpetual exponential growth for stability, in a physical system that does not support indefinite exponential growth.

Go through Martinson’s “Crash Course” (it’s very accessible, and you can easily get through it in a weekend), and you’ll find yourself in the top 10%. Come back here and share what you find.
 
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mwgdrwg said:
How's the good old GBP looking today, following yesterday's drop to 1985 levels?
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Last ‘AAA’ rating lost, $3 trillion wiped off global stocks, three decade low for the pound, 10-year UK government bonds below 1% for the first time ever, RBS and Barclays down 30% and share trading suspended, Deutsche Bank down 25%, FTSE250 down 12%, pension funds being gutted. Fortunately, we have strong and principled leadership and the prospects of recovery are good. And the Bank of England’s promise to print some more synthetic money is bound to help.
 
Falcon said:
$3 trillion wiped off global stocks, three decade low for the pound, 10-year UK government bonds below 1% for the first time ever, RBS and Barclays down 30% and share trading suspended, Deutsche Bank down 25%, FTSE250 down 12%, pension funds being gutted. Fortunately, we have strong and principled leadership and the prospects of recovery are good. And the Bank of England’s promise to print some more synthetic money is bound to help.
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Sounds like we're in a strong position then?
 
Falcon said:
$3 trillion wiped off global stocks, three decade low for the pound, 10-year UK government bonds below 1% for the first time ever, RBS and Barclays down 30% and share trading suspended, Deutsche Bank down 25%, FTSE250 down 12%, pension funds being gutted.
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image.png
 
ska invita said:
2-1.

Have to say Barclays share collapse amuses me what with the Barclays Telegraph being so pro exit.
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Compass Q2 2016 | Barclays

At the beginning of this year many market participants saw the fall in equity prices as a precursor to the end of this economic cycle. We had a different view and saw this downturn as an opportunity to tilt further towards risk assets. In this latest edition of Compass, the theme is growth and equities.
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mwgdrwg said:
Isn't all this great for tourism and a good time to buy shares before they shoot back up?
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Buy now and you'll probably either end in a very dangerous van, or telling this strange story involving buses.
We still have one team in the tourney, its keeping us honest at the mo.
 
....if all the casino banks piss off to Dublin, Paris or Frankfurt - having sucked the cash cow of the UK dry last time they shit the bed - presumably those countries tax payers can deal with the soiled sheets when the next lurch of the on-going systemic crisis eventually hits....

..good luck with that Ireland - only just finished bailing out your last lot of criminal banker psycho's...
 
hot air baboon said:
....if all the casino banks piss off to Dublin, Paris or Frankfurt - having sucked the cash cow of the UK dry last time they shit the bed - presumably those countries tax payers can deal with the soiled sheets when the next lurch of the on-going systemic crisis eventually hits....

..good luck with that Ireland - only just finished bailing out your last lot of criminal banker psycho's...
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I don't think the bail out will be as easy as the markets seemed to think , but not really our problem. Quite happy with the numbers though (if this pans out right) -no tarrif barriers (except agriculture {THIS NEEDS TO BE A PRIORITY}) and 8% cheaper relative to EUrozone to manufacturer here...
 
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