What are You Going to Do?

Posted on September 17, 2008
Filed Under Fake Culture, Society |

The Royal Bank of Scotland has advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks.“A very nasty period is soon to be upon us - be prepared,” said Bob Janjuah, the bank’s credit strategist.A report by the bank’s research team warns that the S&P 500 index of Wall Street equities is likely to fall by more than 300 points to around 1050 by September as “all the chickens come home to roost” from the excesses of the global boom, with contagion spreading across Europe and emerging markets.Global Market Collapse

From one of my posts back in June: Reverse Reality and the Economy

Three months later we are in September and things appear to be falling down. Lehman has ‘gone’, AIG has been bailed with a temporary loan (it’s worth being aware that in aiding AIG, the Federal Reserve has helped a private corporation which is not a bank!) The Bank of America has brought floundering Merrill Lynch.

In the UK the Halifax Bank of Scotland’s shares have plummeted, and they are now in take over talks.

In sinagpore hundreds of policy holders are queuing outside an AIG subsidiary in an attempt to claim their policies.

In Russia, stock market trading has been suspended for the second day, and there are suggestions that this trade suspension may be an indeffinate one.

All of the above has occurred within less than 3 days! My bet is that it is far from over.

So - where does that mean you stand? Are we all just going to sit on our arses and wait for the inevitable market crash? Well to be honest there isn’t a whole lot we can do, though it is a good time to ‘get ready’ for what is to come. Now this isn’t an attempt to scaremonger - but it is an attempt to remind people to be mindful of what is going on in the world. Stock up on dried food, learn how to make your own bread, remove your savings from your bank - it will be safer under your mattress - stock up on water and batteries.

There is no need for fear, but there is a need to respond to current circumstances. After all - what is the point in being aware, if we are only going to simply sit back and wait to see what happens. Hindsight is a wonderful thing and is available to everyone, but foresight can be a gift - and it shouldn’t be squandered.