Absolute Carnage on the FT-SE 100 expected later today.

Davesnave

If we must be poorer as a nation, it will still be OK, as we were consuming far too much anyway.

From a personal perspective, I've planned for the worst. Can't do more now, so why worry?

CLAPTON

In the 30's governments accepted the 'short term' pain and cut spending to balance the budget.
It then took about 12 years and a world war however before the recovery started working.

I think the current approach has some merit.

Davesnave

Doctor_Gloom wrote: »

It looks like meltdown is on the cards for the UK stockmarket later today (Friday) .
Good luck everyone, we're all in this together, tin hats at the ready!

Oh bu99er! Put my tin hat down somewhere during a period of post-election euphoria and can't find it now.....

I'll need more than good luck, I fear, especially with the price of tin being what it is, and it being near the end of the month.

Plastic any good?

HAMISH_MCTAVISH

Doctor_Gloom wrote: »

Good luck everyone, we're all in this together, tin hats at the ready!

Cleaver

Doctor_Gloom wrote: »

I hope you all took Asheron's advice and fully converted your portfolios to Gold to avert the oncoming financial catastrophe.

If you have a long-term, decent investment strategy where you diversify your assets and contribute regular amounts over many years it negates the need to chase whatever is the flavour of the moment. People who 'convert' their portfolios in to whatever the latest craze is invariably end up losing money in my humble opinion. Of course you can tweak your asset range to suit your age and risk profile, but if you started with a decent, sensible strategy to earn modest yet secure gains over the long term there's no need to convert anything.

In summary, I hope people don't take Asheron's advice. But I wish him good luck with his one-asset portfolio.

Cleaver

Doctor_Gloom wrote: »

Hi, does anyone know how much more the FT-SE 100 index has to plunge in one day before panic ensues and the index is suspended to avoid civil strife and one almighty bloodbath on the streets?

It's currently down 0.26% as I write. To answer your question I'm not sure of the exact amount, but I think it needs to fall a touch more than this before we all take to the streets. Maybe if it falls 4% today I'll start to poke my head out the front door just to check for civil strife.

Jonbvn

Rather than hyper-inflation that some people have mentioned, the real problem is deflation.
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/7746915/Perfect-storm-as-market-tremors-hit-China-Europe-and-the-US.html

Tightening in China has caused PM's and oil to drop also.

If you are going to panic, at least get the facts straight;)

Jonbvn

Cleaver wrote: »

In summary, I hope people don't take Asheron's advice. But I wish him good luck with his one-eyed portfolio.

Corrected it for you:p

inspector_monkfish

Doctor_Gloom wrote: »

It looks like meltdown is on the cards for the UK stockmarket later today (Friday) . I hope you all took Asheron's advice and fully converted your portfolios to Gold to avert the oncoming financial catastrophe.

Good luck everyone, we're all in this together, tin hats at the ready!

OMG !!! FTSE is DOWN 10pts ! :eek::eek:

PANIIIIIIIIIIIIC !!!!

Blacklight

09:53 21May10 - FTSE Crashes 0.66 points (0.02%)

Panic on the streets of London... bloodbath to follow.