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Swap the Deutschmark for the euro and it feels like 1987 all over again

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posted on Jun, 22 2008 @ 05:56 AM
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A rate rise in Europe could soon trigger the next Black Monday

Sunday, 22 June 2008

Take a deep breath, tighten your belt and hold on to your cash ready for tomorrow morning. According to Richard Koo, chief economist at Nomura, another Black Monday is on its way. The last was 19 October 1987, when global markets went into meltdown. Starting in Hong Kong, the crash spread to Europe and then to the US, where the Dow Jones collapsed 508 points in one day. For those with poor memories, by the end of that month the UK equity market had fallen 26 per cent, the US by 22 per cent and Hong Kong by 45 per cent.

Please visit the link provided for the complete story.


Independent on Sunday

And it is likely to happen. Of course, not tomorrow or next Monday but it may happen in the near future. An ECB interest rate increase will shock the system, just like in 1987, triggering a potential sell off in the markets.

"Another Black Monday" has been predicted for a while now, ever since the credit crunch started and these conclusions in the OP-ED are not ludacris.




posted on Jun, 22 2008 @ 06:55 AM
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The European Central Bank has been selling out a lot of gold in the last year


It's the same scam as they pulled in the US with the FED, first the central banks take over the small ones from the counties, than they take over the main country's/nation/continent central banks to evaporate their real back funds in their private pockets so the value of the money goes down, they have to get that value back by inflation and taxation.

Its pure capitalism slavery.

I long ago read an article that the Rothschilds owned the central banks of over a 100 countries in this world....

S&F

Grey Magic



posted on Jun, 22 2008 @ 08:35 AM
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Bloomberg chart expert (cannot remember the official title) is predicting the Dow Jones will go as low as 7,500


YIKES!!



posted on Jun, 23 2008 @ 10:49 AM
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reply to post by infinite
 


THAT seems a bit drastic.. 7,500 .. That would knock the markets back more then a decade as far as worth ..

But again, I believe something will happen .. it has to .. the momentum is building, the pressure is building, the bubble WILL pop, eventually.

The US Government data shows the economy should expect to LOOSE 200,000 jobs ..... just by municipal employment alone! (Which most pay very well in the US) .. And does not include the concern that cities are no longer hiring .. they are also forcing workers into retirement (which does not count against unemployment) .. the fear being with municipal jobs dropping (the US data admits that it is a "conservative" guess at 200k jobs lost, as that is only ONE percent of Municipal employment in the US....) consumer confidence drops as well .. hurting retail and the service sectors severely..

Raising rates to instigate an economy "correction" would in sense, be no different then trimming back a plant, sometimes it grows out of control and cannot be contained, to cut it back and let it grow in a more controlled atmosphere..

Granted, for many people the times ahead will be terrible times, people should not over-react .. economic corrections and recession are NOT the same things as economic collapses or depressions even .. and it does not mean revolution, civil wars, martial law. It will simply be a correction.



posted on Jun, 23 2008 @ 12:18 PM
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Originally posted by Rockpuck
Granted, for many people the times ahead will be terrible times, people should not over-react .. economic corrections and recession are NOT the same things as economic collapses or depressions even .. and it does not mean revolution, civil wars, martial law. It will simply be a correction.


Bingo.
Economics is a cycle. We've gone through a massive period of growth and we are long over due a correction. As you and I have said time and time again; corrections are nothing major and are needed to maintain a healthy economy.



posted on Jun, 23 2008 @ 12:49 PM
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Financial crashes also overdue because several new central banks are on the horizon, two for oil -- in Saudi Arabia and another I think in Bahrain ... both because Iran wants to have its own Bourse oil stock market ... by the way, Iran has too much oil ... the U.S. is not allowed to buy it because of Cheney and Bush, who insist we buy Saudi oil, see:

Iraq (& coming Iran) war not about oil, about what currency will oil be traded in -- www.abovetopsecret.com...&flagit=348292

AND REMEMBER -- all the stock market crashes ARE MANUFACTURED by the Bank of England, Fed and Bundesbank ... i.e., the private shareholders see www.my2012.4t.com



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