Imminent and severe market correction

[Pager]

Time to get the brown trousers out

On the other hand the press do have a habit of sensationalizing things, hopefully that's the case and governments around the world will pull there fingers out.

 

[noirua]

Holy Crap!

This is the scariest article I've read yet: http://www.telegraph.co.uk/finance/...-hot-seat-as-Europe-falls-into-the-abyss.html

This is not on some gold ramping website or by a tin foil hat wearing nutter. This is Ambrose Evans-Pritchard on of the most sensible and consistently accurate economic journalists out there. (along with Jeff Randall and a couple of others) IN THE DAILY TELEGRAPH - a conservative broadsheet.

Over here people have been stocking up on baked bean and bottled water, the sports stores have sold out of baseball bats. On another thread I posted an article on a bookie running a book on the first city to riot.

There is talk of bank holidays (where the entire banking system closes down for a week or so) The Tory shadow Chancellor of the Exchequer is calling for the nationalisation of the whole banking industry... and the gu'mint is taking it seriously http://www.telegraph.co.uk/finance/...t-could-take-shares-in-high-street-banks.html

I don't know about you lot, but I'm assuming crash positions.

I would think it early days for stacking up on food etc., in any European country. Seems doubtful that they sell baseball bats in the UK as they don't play baseball.
Problems somewhere down the line maybe but Brits have about AU$4.5 trillion saved.

Looks blue sky all the way with the occasional black cloud. Not bothered myself.

 

[wayneL]

I would think it early days for stacking up on food etc., in any European country. Seems doubtful that they sell baseball bats in the UK as they don't play baseball.
Problems somewhere down the line maybe but Brits have about AU$4.5 trillion saved.

Looks blue sky all the way with the occasional black cloud. Not bothered myself.

Regarding baseball bats - as per your habit, you're taking out of your @rse http://www.milletsports.co.uk/baseball/index.php?source=google_ppc_uk They even have an American football league here Mr know it all.

I am speaking of the sentiment. Whether it is warranted, only time will tell.

FWIW I don't have stocks of baked beans or bottled water myself, just a few obligatory krugs etc.

Regarding savings, the total savings figure you quoted, whether that is true or not, is not in cash for the vast majority. It is in pensions schemes and other insurance or fund based entities. On average the british will run out of cash in 17 days if his income stopped.

That is the reality.

 

[Pager]

There would be a plentiful supply of cricket bats i would have thought

But quite why anyone would want to start playing baseball during this crisis is a mystery to me

 

[gav]

There would be a plentiful supply of cricket bats i would have thought

Ah yes, but the Poms dont know how to use those!

 

[wayneL]

Pager,

Cricket bats are too clumsy and heavy to be able to pull out of the back seat of the car in a hurry. :

+++​

FWIW, here is John Mauldin's latest newsletter with his views on the bail-out: http://www.frontlinethoughts.com/pdf/mwo100308.pdf

 

[wayneL]

Ah yes, but the Poms dont know how to use those!

Ooooh ouch!

LOL

Remind me not let something like that slip out when I'm down at the pub.

 

[GreatPig]

Especially not if there are any cricket bats lying around.

GP

 

[noirua]

Regarding baseball bats - as per your habit, you're taking out of your @rse http://www.milletsports.co.uk/baseball/index.php?source=google_ppc_uk They even have an American football league here Mr know it all.

I am speaking of the sentiment. Whether it is warranted, only time will tell.

FWIW I don't have stocks of baked beans or bottled water myself, just a few obligatory krugs etc.

Regarding savings, the total savings figure you quoted, whether that is true or not, is not in cash for the vast majority. It is in pensions schemes and other insurance or fund based entities. On average the british will run out of cash in 17 days if his income stopped.

That is the reality.

Hi WayneL, I am living in the UK at the moment in a small village in Kent. Within 20Km there are 4 supermarkets, 2 Tescos, Asda and Sainsburys. I can assure you there are no food problems whatsoever.

I can't remember seeing a baseball bat in any store I've been in.

No doubt there is a Baseball League with a small following. I think the Americans may sponsor it to keep it alive.

The majority of Brits I know are retired or have retired early on pensions. Probably this is an affluent area so I doubt many care much about recessions. Probably different in the North of England, so they say.

Good Luck in Cheltenham, too far North for me, or is it West, on these unreliable motorways.

 

[gav]

Especially not if there are any cricket bats lying around.

GP

Na I reckon you'd be pretty safe, as long as you got out of the way by the third swing! :

 

[wayneL]

Hi WayneL, I am living in the UK at the moment in a small village in Kent. Within 20Km there are 4 supermarkets, 2 Tescos, Asda and Sainsburys. I can assure you there are no food problems whatsoever.

I can't remember seeing a baseball bat in any store I've been in.

No doubt there is a Baseball League with a small following. I think the Americans may sponsor it to keep it alive.

The majority of Brits I know are retired or have retired early on pensions. Probably this is an affluent area so I doubt many care much about recessions. Probably different in the North of England, so they say.

Good Luck in Cheltenham, too far North for me on these unreliable motorways.

Firstly, though Cheltenham is north of Kent, is not "north" it's "west". Secondly Cheltenham is also an affluent area, the most complete Regency town in England and home the the most prestigious girls school in the country. It's the Cotwolds here, plenty of old money as well. Princess Anne lives just down the road and Highgrove not much further away. FYI http://www.visitcheltenham.com/ or http://www.cheltenham4u.co.uk/

But you (perhaps purposely) misconstrued the whole meaning of my post. Now I know you like to ignore facts, avoid questions and leap to bullish conclusions in the face of all evidence to the contrary, but I invite you to read the post again, carefully this time, to see how you have drawn the wrong conclusions.

PS Haven't been to Kent yet, but believe it's a nice part of the country.

 

[Macquack]

FWIW, here is John Mauldin's latest newsletter with his views on the bail-out: http://www.frontlinethoughts.com/pdf/mwo100308.pdf

Good article, except for the first page of self-promotion and advertising.

 

[Pommiegranite]

Firstly, though Cheltenham is north of Kent, is not "north" it's "west". Secondly Cheltenham is also an affluent area, the most complete Regency town in England and home the the most prestigious girls school in the country. It's the Cotwolds here, plenty of old money as well. Princess Anne lives just down the road and Highgrove not much further away. FYI http://www.visitcheltenham.com/ or http://www.cheltenham4u.co.uk/

But you (perhaps purposely) misconstrued the whole meaning of my post. Now I know you like to ignore facts, avoid questions and leap to bullish conclusions in the face of all evidence to the contrary, but I invite you to read the post again, carefully this time, to see how you have drawn the wrong conclusions.

PS Haven't been to Kent yet, but believe it's a nice part of the country.

Cheltenham is a part of Gloucester, and Gloucester's most famous resident was:

http://en.wikipedia.org/wiki/Fred_West

 

[noirua]

Firstly, though Cheltenham is north of Kent, is not "north" it's "west". Secondly Cheltenham is also an affluent area, the most complete Regency town in England and home the the most prestigious girls school in the country. It's the Cotwolds here, plenty of old money as well. Princess Anne lives just down the road and Highgrove not much further away. FYI http://www.visitcheltenham.com/ or http://www.cheltenham4u.co.uk/

But you (perhaps purposely) misconstrued the whole meaning of my post. Now I know you like to ignore facts, avoid questions and leap to bullish conclusions in the face of all evidence to the contrary, but I invite you to read the post again, carefully this time, to see how you have drawn the wrong conclusions.

PS Haven't been to Kent yet, but believe it's a nice part of the country.

Hi again, I was taken to a Wildfowl Refuge at Slimbridge in Gloucestershire, seem to remember the M5 motorway being mentioned. Also stayed at a village called Boughton on the Water, seem to remember it was in the cotswolds.
Most Aussies don't stay in Gloucestershire, out in the sticks someone told me. Posh though, you must be affluent yourself. Have you seen the Princess Anne yet?

 

[nunthewiser]

Wayne is princess anne ?

 

[wayneL]

Hi again, I was taken to a Wildfowl Refuge at Slimbridge in Gloucestershire, seem to remember the M5 motorway being mentioned. Also stayed at a village called Boughton on the Water, seem to remember it was in the cotswolds.
Most Aussies don't stay in Gloucestershire, out in the sticks someone told me. Posh though, you must be affluent yourself. Have you seen the Princess Anne yet?

I don't feel very affluent compared to some around here, but scratch by OK.

Out in the sticks - well if you like London, it will feel like the sticks here and there aren't many Aussies about (that's good). But if you like the country life, it's perfect. On the other hand, two hours has me parked at XXXXXXX XXXXX (top secret free parking ) and twenty minutes on the train to the city. Not that far. Only an hour to Birmingham or 45 minutes to Bristol too.

Pommiegranite,

"Cheltenham is a part of Gloucester" - there is a no man's land with barbed wire and land mines separating Gloucester and Cheltenham. Two different worlds. (Gloucester is the pits)

 

[noirua]

I don't feel very affluent compared to some around here, but scratch by OK.

Out in the sticks - well if you like London, it will feel like the sticks here and there aren't many Aussies about (that's good). But if you like the country life, it's perfect. On the other hand, two hours has me parked at XXXXXXX XXXXX (top secret free parking ) and twenty minutes on the train to the city. Not that far. Only an hour to Birmingham or 45 minutes to Bristol too.

Pommiegranite,

"Cheltenham is a part of Gloucester" - there is a no man's land with barbed wire and land mines separating Gloucester and Cheltenham. Two different worlds. (Gloucester is the pits)

I should have realized that, as I remember seeing a Bank called "The Cheltenham & Gloucester".
My local railway station is on a slow line so it's fortunate I'm rarely going up to London. Went to London Zoo once but felt sorry for the animals and came out after 1 hour. They do have a free Aussie newspaper in London at news stands around Oxford Street and Tottenham Court Road.

I do try to remain cheerful in bear markets as I know a bull will arrive eventually and butt it into the long grass. Some of your posts might drive people to suicide.

 

[Aussiejeff]

WOT?? No-one here has a word for the poor Geordie's??

On behalf of my BRILLIANT Scottish ancestors, I wish to inform you that they will be wielding the dreaded "Mashie Niblick" during the coming UK Dark Ages - more than a match for tha weeek 'n flamsy beesball baat.

Bewarrrre a man in a ver-r-r-r-r-y shorrt kilt bearring a packed sporrrrrron....

 

[wayneL]

WOT?? No-one here has a word for the poor Geordie's??

On behalf of my BRILLIANT Scottish ancestors, I wish to inform you that they will be wielding the dreaded "Mashie Niblick" during the coming UK Dark Ages - more than a match for tha weeek 'n flamsy beesball baat.

Bewarrrre a man in a ver-r-r-r-r-y shorrt kilt bearring a packed sporrrrrron....

As it happens, I'm Geordie blood. Folks are from North Shields.

We kicked off this whole schmozzle with Northern cRock.

 

[Aussiejeff]

As it happens, I'm Geordie blood. Folks are from North Shields.

We kicked off this whole schmozzle with Northern cRock.

Not to worry, me Geordie mate - looks like the BananaBucks schmozzle will stop here....

China's Ping An Insurance Co will record a $US2.3 billion ($A3 billion) loss on its stake in troubled European bank Fortis NV, in the biggest blow yet to a Chinese institution from the global credit crisis.

Full article - http://compareshares.com.au/show_news.php?id=S-520231

So much for China saving us....

The Tsunami is just beginning metinks.