Oh deary me, the banks again!
- 19 August 2011 00:01121586The second woe is past; and, behold, the third woe cometh quickly...
Today, some important banks in Britain, the USA and Europe have nose-dived on the share markets.
Here is one example from BBC news:
"Societe Generale lost 12.3%, one of a number of french banks to fall heavily, despite a new ban on speculators short-selling their stocks.
This is designed to stop traders betting that shares will fall, which can drive down values further".
The problem seems to be related to a general fall in stock markets over the past few weeks, to uncertaintly over the future of the euro, uncertaintly concerning low growth and increasing inflation in the western world, and again, yes, uncertainty about the outlook of the global economy.
So, one messenger had just finished, when another messenger came in with tidings of even more woes.
Is this a return to the 2008 banking crisis, have the bankers been at it again?
Or is it just a passing storm in a teacup?
Or is the EU done?
Whatever the case be, it doesn't look bright over the next few days for the stock markets.
It seems there are just too many negative influences raining down on the global economy, and in particular on the EU economy.
Surely, someone has to take the blame, or not?Chanters, Drums and Drones Potty Time http://youtu.be/99fMqpjnXYA
Rule Britannia!
Kent First http://youtu.be/04F3mAP3fV4 Keep banging on http://youtu.be/qYCU_SKmkGQ - 19 August 2011 05:02121589Alexander.
Yesterday the FTSE100 and all the other indexes fell, not just bank stocks. Over 4% in fact.
We are experiencing extreme volatility in the markets lately. The attempt by the France and Germany to impose a new tax on financial transactions meant the banks fell particularly badly. Numbers from the USA announced added further to the market woes.
This is nothing about 'bankers being at it' whatever that means.
Currently every bit of news, negative or positive, is having an exaggerated effect on the markets. It will pass though I expect the volatility to continue for quite a while yet. - Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,948
19 August 2011 05:05121591barryw
you o put a brave face on things
and your optomistic outlook is to be admired
lets hope your rightALL POSTS ARE MY OWN PERSONAL VIEWS - 19 August 2011 06:19121606Trouble is both France and Germany have invested so much in the Eurozone that they can't afford to let it go down the pan.
The problem is that many countries owe those 2 so much that when it comes to important votes in the future of the EU that they'll have no option but to support France and Germany.Marek
I think therefore I am (not a Tory supporter) - Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,948
19 August 2011 08:30121634thats correct MAREK
But that aside theres no UK political party thats committed to withdrawingALL POSTS ARE MY OWN PERSONAL VIEWS