Crash Crash Crash !!!!!!!!!!!!!!!!!!!!!!!!!!!

blisk

Iceland has shut down its banking system.

Its anarchy out there.

Suggest people start buying Gold.

Conrad

blisk wrote: »

What's dubious ?

Are you another dodgy Mortgage Advisor living in cuckoo land who makes it all up & still thinks the Crash! is only temporary ?

Do you understand Facts & Figures ?

Unfortunately this business is riddled with deluded happy clappy types. I used to critiscise a happy clappy broker here, named mortgagemama (think Hazel Blears). Right up to the point she had to leave the business she gave the impression all was well and booming.
I was around in 1991, and first encountered these irrationaly optimistic brokers and EA's. Those that survived were the more cautious more realistic types.

One EA used to bragg he was so good that he did deals down the pub in his own time. By the end of the crash he'd lost everything - I mean the lot.
In fact I'm suspiscious of anyone that goes ouit of thier way to tell you what they're worth.
A developer I know loves to drop in to any conversation his £4m+ in the Bank.
I bet he's up to his eyes in debt and deluded as to his net worth.
He's pretty thick and thought the property boom would never end - so I just dont believe he has the intelligence to make much money. No concept of timing, he just borrowed and built - any muppet could do that.

blisk

Conrad wrote: »

Unfortunately this business is riddled with deluded happy clappy types. I used to critiscise a happy clappy broker here, named mortgagemama (think Hazel Blears). Right up to the point she had to leave the business she gave the impression all was well and booming.
I was around in 1991, and first encountered these irrationaly optimistic brokers and EA's. Those that survived were the more cautious more realistic types.

One EA used to bragg he was so good that he did deals down the pub in his own time. By the end of the crash he'd lost everything - I mean the lot.
In fact I'm suspiscious of anyone that goes ouit of thier way to tell you what they're worth.
A developer I know loves to drop in to any conversation his £4m+ in the Bank.
I bet he's up to his eyes in debt and deluded as to his net worth.
He's pretty thick and thought the property boom would never end - so I just dont believe he has the intelligence to make much money. No concept of timing, he just borrowed and built - any muppet could do that.

These idiots are getting what they deserve, theyre going to be sacked in droves.

The property & stock markets had been hijacked by speculators & the country reduced to a shambles.

Ian_Griffiths_Halifax

Conrad wrote: »

Unfortunately this business is riddled with deluded happy clappy types. I used to critiscise a happy clappy broker here, named mortgagemama (think Hazel Blears). Right up to the point she had to leave the business she gave the impression all was well and booming.
I was around in 1991, and first encountered these irrationaly optimistic brokers and EA's. Those that survived were the more cautious more realistic types.

One EA used to bragg he was so good that he did deals down the pub in his own time. By the end of the crash he'd lost everything - I mean the lot.
In fact I'm suspiscious of anyone that goes ouit of thier way to tell you what they're worth.
A developer I know loves to drop in to any conversation his £4m+ in the Bank.
I bet he's up to his eyes in debt and deluded as to his net worth.
He's pretty thick and thought the property boom would never end - so I just dont believe he has the intelligence to make much money. No concept of timing, he just borrowed and built - any muppet could do that.

I started in 89, so I think I know what I'm talking about. I'm certainly not irrationally optimistic, but the OP is a bit of a head case and I thought I'd ask him to provide a few longer term figures to show that the drops in property values aren't problems for everybody, just some of the unfortunate buyers over the last couple of years.

blisk

UK's top share index chalked up its biggest one-day points fall EVER !!!

Treadmill

Until tomorrow

blisk

Treadmill wrote: »

Until tomorrow

Can it get worse ?

sabretoothtigger

If you want depressing, one guy predicts the dow at 41 or at least whatever the 2008 equivalent of 1932 is

http://www.oftwominds.com/blogsept08/crash9-08.html

An interim bottom occurred on November 13, with the Dow closing at 198.6 that day. The market recovered for several months from that point, with the Dow reaching a secondary peak at 294.0 in April 1930. The market embarked on a steady slide in April 1931 that did not end until 1932 when the Dow closed at 41.22 on July 8, concluding a shattering 89% decline from the peak. This was the lowest the stock market had been since the 19th century

mardatha

Tell me something --and I will only listen to sensible posters ! I know nothing of stocks & shares , but
-- all these people are selling and thats why the market is dropping, is that right ? So if they're selling, then somebody is buying. So why is there such a panic ? And who does the buying at times like these ?Do some people make money in the middle of this kind of thing, or do they just have enough cash to grab shares cheaply and hope to god they pick up later ?

sabretoothtigger

Someone is always making money, usually its the banks who do great no matter what by profiting from loans. Obviously not now and not until they know whats a good loan or not.

Stockbrokers (part of many banks) will profit from share volumes being high. The taxman will collect duty on every share purchase, billions of pounds are paid by foreigners every year who will never visit the uk just because they want to trade on our ftse.


The price falls because people now value the prospects of a company at a lower price. Supply and demand means the price falls till someone is prepared to hold this stock overnight and beyond. No one wants to wake up poorer because usa unemployment went up and now their shares are worth less

Traders will sell and buy just because of price forecast, lots will only own shares for minutes during a day before they sell again thats why the graphs are so jagged.

Some investors will sell in fear of falling dividends, banks are currently over 10% but thats vs risk another reason to sell, risk of total failure and also loss of asset worth. Then some people just need the money, alot of companies invest in each other and as one company has a problem it effects everyone they invest in, the debt side of things is probably even more fatal