Is the FTSE going to tank on Monday following the downgrade news?

Sanchsoot49

at11 wrote: »

in that case have any of you guys considered taking your profits/losses and getting out of the markets till the air clears?

i just can help but fear the markets are going to tank down to 5000-300 levels (on the eurozone fears, not the downgrade)
and that a lot of those lovely (paper) profits i had gained over the last 6 months will be gone by the mornings open

If you get very worried by the volatility of the market (which would appear to be the case) you might be better keeping your money in cash?

If you are in it for the long haul then probably a nip and tuck here and there should be all that is required. No one can predict what is going to happen ....

Thrugelmir

Sanchsoot49 wrote: »

If you are in it for the long haul then probably a nip and tuck here and there should be all that is required. No one can predict what is going to happen ....

Once the markets rise over 3 times what I can expect to earn in a year from dividends. Then time to sit on the sidelines. Or find an unloved sector trading at a discount.

NPowerUser

Thrugelmir wrote: »

Once the markets rise over 3 times what I can expect to earn in a year from dividends. Then time to sit on the sidelines. Or find an unloved sector trading at a discount.

Nothing wrong with taking a profit my friend.

I made a poor call on the market today but I look around me, my friends are skint about 10 days after payday, people are losing jobs, getting fewer hours, in fact I think the UK is in poor shape.

I appreciate lots of ftse companies make money abroad but things look too good to be true here in the UK.

I hope I am wrong but things feel like it wouldn't take much for the market to tank. I am just trying to pay down my debts including my mortgage, that way if things do go down the toilet, I will feel better protected.

Good luck to the bulls but I have never felt so bearish in my life!

rich11

Its tanking today so far down 1.29%

IronWolf

If Italy dont sort themselves out, which is highly likely given the Italians, then I can see big market declines over the next few months.

I'm not selling my current holdings though but Ive got plenty of cash ready to invest.

NPowerUser

It would be nice if Italian austerity was shared equally among its citizens.

After 3 years, Italian MP's qualify for 100,000+ euro pensions for life, hand out government jobs to their family and friends and are immune from prosecution whilst in office.

Rocky times ahead.

JohnRo

rich11 wrote: »

Its tanking today so far down 1.29%

That's not tanking, the fall is nothing we haven't already seen more than once this month already.

I think a few people are expecting a pull back to at the least pre-fiscal cliff new year deal levels.

I don't know how you'd describe that if this blip is tanking.

grizzly1911

NPowerUser wrote: »

It would be nice if Italian austerity was shared equally among its citizens.

After 3 years, Italian MP's qualify for 100,000+ euro pensions for life, hand out government jobs to their family and friends and are immune from prosecution whilst in office.

Rocky times ahead.

An Italian on a 5L phone in this morning made thepoint that they is a part of the problem. They have far too many people in their parliamentary system relative to the size of the electorate.

I can't remember the act figures but something like 900 for around 60m. With Americans having just over half for a 5x larger population.

sabretoothtigger

Depends on the quality of the work done. If they worked for basic wage and expenses it might be fine.
Was it the ancient greeks where a citizen served a term then passed the baton on, it was a case of being involved more then winning, beating others then reigning victorious handing down gifts. Modern politics is often self serving in every country

Selection by lottery was the standard means as it was regarded as the more democratic: elections would favour those who were rich, noble, eloquent and well-known, while allotment spread the work of administration throughout the whole citizen body, engaging them in the crucial democratic experience of, to use Aristotle's words, "ruling and being ruled in turn" (Politics 1317b28–30). The allotment of an individual was based on citizenship rather than merit or any form of personal popularity which could be bought. Allotment therefore was seen as a means to prevent the corrupt purchase of votes and it gave citizens a unique form of political equality as all had an equal chance of obtaining government office.

To the Athenians it seems what had to be guarded against was not incompetence but any tendency to use office as a way of accumulating ongoing power.

Thrugelmir wrote: »

Seems the news was positive for banks. As lower exchange rate reduces their liabilities.

I heard the opposite as banks hold more then any other business, gilts as security. If its not worth anything, they are once again in trouble like when they used house debt similarly

grey_gym_sock

according to https://www.parliament.uk, there are currently 648 MPs and 760 members eligible to sit in the lords. so a lot more than italy.

however, in the lords, they're not paid, except expenses, so does that make it OK? or is it bad because it means that only members who are wealthy enough that they don't need to work will be able to attend? the latter was the argument made for starting to pay MPs a salary - they weren't paid at all back in the 19th century.

the pay level of MPs should be based on what kind of MPs we want to have. e.g. will a higher salary attractive better candidates, or candidates more motivated by money? the cost of paying them is not significant per voter in the UK.