Discussion
Banks are taking a hit again
Top 5 fallers
Name Chg%
HBOS -18.13%
LON.STK.EXCH -13.82%
HSBC HLDGS.UK -13.35%
BARCLAYS -12.94%
EURASIAN -12.77%
http://www.londonstockexchange.com/en-gb/pricesnew...
Top 5 fallers
Name Chg%
HBOS -18.13%
LON.STK.EXCH -13.82%
HSBC HLDGS.UK -13.35%
BARCLAYS -12.94%
EURASIAN -12.77%
http://www.londonstockexchange.com/en-gb/pricesnew...
Edited by carsarecool on Friday 24th October 11:20
kOfficial news that the UK economy is in recession & that the BoE are going to really drop interest rates.
With regard to the magnitude of the % it is really crazy but 10% drop today isnt like a 10% drop if we had one this time last year. The actual points drop in less for obvious reasons.
Sterling has dropped 8% this week so far against the $...
The only good news to come from this is that as interest rates are falling & at some point the banks will sort themselves out mortgage costs will be much lower & when they do get really low fix yourself in for 10 years & make sure the mortgage is portable i.e. you can move house and the mortgage moves with you thus avoiding early redemption fees.
Bad news is clearly that were going to have a lot of unemployment and that will in turn cause lower spending which turns to more unemployed as companies cannot keep you on as they are not making enough money/any money.
With regard to the magnitude of the % it is really crazy but 10% drop today isnt like a 10% drop if we had one this time last year. The actual points drop in less for obvious reasons.
Sterling has dropped 8% this week so far against the $...
The only good news to come from this is that as interest rates are falling & at some point the banks will sort themselves out mortgage costs will be much lower & when they do get really low fix yourself in for 10 years & make sure the mortgage is portable i.e. you can move house and the mortgage moves with you thus avoiding early redemption fees.
Bad news is clearly that were going to have a lot of unemployment and that will in turn cause lower spending which turns to more unemployed as companies cannot keep you on as they are not making enough money/any money.
nownek said:
Don't worry guys. A plunging stock market, Sterling at new lows, the country in recession. None of this is Gordon's fault- he's going to lead us to the promised land.
Steady as she goes...
Steady as she goes...
Gordon Brown may in the future have said:
Shares are more affordable than ever. That's a good thing, right?
This is getting stupid now. Seriously.
The market had corrected and now we just have speculators playing the down game rather than the up they were until a few months ago.
I am all for the free market but it does strike me, as a casual observer, that the World is currently getting funcked over by a few very rich entities* and there is nothing the regulators (make that term as broad as you will) can/are doing about it.
The market had corrected and now we just have speculators playing the down game rather than the up they were until a few months ago.
I am all for the free market but it does strike me, as a casual observer, that the World is currently getting funcked over by a few very rich entities* and there is nothing the regulators (make that term as broad as you will) can/are doing about it.
- As in we are in a near pollyopoly situation, not a free market.
Article said:
S&P 500 Futures Reach `Limit Down' Level.
Trading in Standard & Poor's 500 Index futures expiring in December on the Chicago Mercantile Exchange has been limited to stop the contracts from falling below 855.20, the exchange said.
Trading below that level will resume when U.S. exchanges open for regular trading at 9:30 a.m. New York time, said Jeremy Hughes, a London-based spokesman for the CME. The so-called limit down suspension allows the contracts to trade above 855.20, he said.
Meltdown? Trading in Standard & Poor's 500 Index futures expiring in December on the Chicago Mercantile Exchange has been limited to stop the contracts from falling below 855.20, the exchange said.
Trading below that level will resume when U.S. exchanges open for regular trading at 9:30 a.m. New York time, said Jeremy Hughes, a London-based spokesman for the CME. The so-called limit down suspension allows the contracts to trade above 855.20, he said.
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