The worst market crisis in 60 years - Georgr Soros

robp

According to Samuel Brittan: Talk at Institute of Economic Affairs 16/09/02 -

The UK departure from the European Exchange Rate Mechanism 10 years ago was called Black Wednesday because of its effect on the fortunes of the Major Government which had staked so much on membership. It was called White Wednesday by those who hated an exchange rate objective and were delighted to break free.

Google is my friend.

Even if not correct (as per the Wiki comment), it offers a plausible meaning.

purch

It was called White Wednesday by those (including the Purch) who hated an exchange rate objective and were delighted to break free

Thatsmore like it !!! :T

norm_diploom

thanks for the original post and link to the george soros article - very thought provoking, and makes sense of recent events by articulating them more clearly than I could ever do. Whether you agree with him or not, I think it's a little arrogant to be so dismissive of someone of his calibre and with his track record, given that he has put real money where his mouth is unlike most armchair economists.

Only time will tell I suppose!

SilverScooby

Morgan Stanley saying Buy now, Sell on the bear market rally, then buy again....

But as someone said, FTSE currently down 100 points so looks like the bear rally lasted all of a few hours yesterday after the Fed rate cut.

I was worried this morning when FTSE rose 100 points that I'd called it completely wrong and should have bought yesterday lunchtime.