£64bn wiped off FTSE100 shares

£64bn wiped off FTSE100 shares

news.aol.co.uk

By Graeme Evans and Holly Williams, PA City Staff

Investors are reeling from a fresh slide in London share prices.

The FTSE 100 Index had shown signs of stabilising after Tuesday's slump of 148.6 points, but a poor reaction to weak economic data from the United States caused the top flight index to close 114.6 points lower at 6171.5.

More than £64 billion has now been wiped from the value of blue-chip shares in the space of two days.

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Hmmm the week another big shooting happens...
U.S.A. Federal reserve chief states America on brink of recession..
Maybe that will be a wake up call to all of you that have been posting that the U.S. economy is fine..
The dollar went two to the pound, first time in living memory for me..
£64 billion dollars gets knocked of the FTSE100 in 2 days!!
Signs of panic are happening in all the worlds markets.
They say the Chinese policy is the key trigger of the slump..
Could it be possible that the timing isnt a coincidence..
With China ready to buy oil in Euros and Iran ready to scrap the dollar for the Euro concerning sales of oil, and the fact that the Dollar is two to the pound, as well as the Federal Reserve Chief forecasting recession, isnt all this pointing to a potential collapse???

news.aol.co.uk
(visit the link for the full news article)

Was Stock Market Panic Tech Based
(visit link for rest of article)
abclocal.go.com...
Thursday's slide in stock prices -- like the one Tuesday -- was not driven by any sign of trouble in the economy. The Dow Jones average opened 200 points lower than where it closed yesterday, but a long slow climb left it just 34 points down for the day. The Nasdaq was off almost 12, and Bloomberg Silicon Valley Index slipped a little also.

So was it the computers that panicked and not the people?

Recession? Where? When? Meanwhile the Dowjones is at a record high...

I suggest a review at the link below.. Its interesting.
Have We Outgrown Recessions?
www.mises.org...

£64 billion dollars gets knocked of the FTSE100 in 2 days!!
Signs of panic are happening in all the worlds markets.

Ermm..no,
its to do with a inflation increase in the UK, fear of two more interest rate hikes (up to 6%) and the Sterling becoming too strong. Thats why the FTSE100 has lost £64 billion.

[edit on 19-4-2007 by infinite]

Shadoww do you think it's got something to do with that google earth alien hive that you found? Is there a new financial power birthplace in Chile.... has it got something to do with Reptilians?

I don't really think the economy is going on a recession, but I do think we are paying for the mess in iraq, afganistan and all the black agendas of the elite, with gas, interest rates, inflation, just look around at all the fees you get just to live or make a living, and you'll see for yourself.

Originally posted by infinite
[Ermm..no,
its to do with a inflation increase in the UK, fear of two more interest rate hikes (up to 6%) and the Sterling becoming too strong. That’s why the FTSE100 has lost £64 billion.

Gordon Brown has a lot to answer for I can tell you!!!

We are talking about a person who took 80 billion pounds of public money - the entire countries pension fund (for our American friends here that's equivalent to 160 billion dollars) and gambled it on the stock exchange.....

When did he make this monumental decision??

August 2001...........

That's right ladies and gentlemen.... The chancellor placed all 80 billion pounds on the stocks just a few weeks before 911!!! Due to the resulting market crashes post Sept 11 he lost the uk's entire pension fund!!!!

If you thought Nick Leeson was a criminal.... check out Mr Gordon Brown!!!!

The coming interest rate increases could well push the country into a recession, one that could be very difficult to come out of again as properties have been over inflated to the point of out pricing first time buyers.

All this comes at a point in history that Chinese stocks fluctuations result in major drops across the globe!!!

A very gloomy Economic forecast indeed...

All the best,

NeoN HaZe.

Originally posted by Neon Haze
The coming interest rate increases could well push the country into a recession, one that could be very difficult to come out of again as properties have been over inflated to the point of out pricing first time buyers.

What?

how did you work that one out? recession is not even on the cards for the UK. Our economy is going strong. Inflation is only 3.1%, which 0.1% of the government target so i doubt a recession is on the cards.

Bummer as this year a big chunk of my 403b is invested in Europe

But, I do think the US is heading for a recession and its going to be a bad one. The housing market may take a huge hit as the proliferation of negative amm mortgages will take that whole industry down. California has had a record number of defaults. Mortgage lenders seem to have adopted a "give it to anybody" credit card mentality and when it hits its going to hit hard

Originally posted by infinite

What?

how did you work that one out? recession is not even on the cards for the UK. Our economy is going strong. Inflation is only 3.1%, which 0.1% of the government target so i doubt a recession is on the cards.

It's like a cascade effect.

Every time you raise interest rates you push x amount of people into a debt spiral they find hard to get out of. You cause x amount of people to loose their homes due to over inflated mortgage rates.

Not only that but as people have less money in thier pockets to spend the high street starts to suffer, which in turn causes more interest rates rises etc etc...

I've seen it happen to Japan in the early 90's, it's not pretty.

The forecast states 2% growth by year end... I say that that could easily slip to a negative figure if inflation keep rising as it is.

All the best,

NeoN HaZe.

Originally posted by Neon Haze
The forecast states 2% growth by year end... I say that that could easily slip to a negative figure if inflation keep rising as it is.

near 3%, not 2%

plus inflation will not raise again, it was already predicted by the government due to high energy prices. inflation will slip below 3%.

i think you are failing to understand that inflation is only 0.1% above the government target, its not a disaster.

I think you will find the Governments target is 2% so there for 3.1 percent is well above the 2% target..
So your .1 reasoning is tripe.
www.bankofengland.co.uk...

Originally posted by infinite

Originally posted by Neon Haze
The forecast states 2% growth by year end... I say that that could easily slip to a negative figure if inflation keep rising as it is.

near 3%, not 2%

plus inflation will not raise again, it was already predicted by the government due to high energy prices. inflation will slip below 3%.

My sources put gdp growth closer to 2.3%.

i think you are failing to understand that inflation is only 0.1% above the government target, its not a disaster.

No I'm not failing to see, just that 0.1% maybe the thin edge of a wedge.

With further interest rate rises, that thin edge may become much clearer to many who would find themselves in financial trouble.... Dominos... house of cards....

But we shall see in time I guess.

all the best,

NeoN HaZe.

Originally posted by bartholomeo
I don't really think the economy is going on a recession, but I do think we are paying for the mess in iraq, afganistan and all the black agendas of the elite, with gas, interest rates, inflation, just look around at all the fees you get just to live or make a living, and you'll see for yourself.

'Fair' 'Tax' Remember those words. Want to take home 100% of your pay without the government taking 30% out of it? Want the government to be more transparent to the American ppl? How about unshackling the US economy? Then the fairtax is your answer. We have a thread about it over the US politics. And its gaining steam. Basically it will replace our current taxation system by replacing it with a consumption tax. Under the fairtax the IRS will be abolished. 75 of the worlds economist are endorsing the fairtax. They have said that if the fairtax was enacted today that in the first year under the fairtax that the US economy would grow 10.5% and would more then double its current size by 2015. The Republicans are said to be campaigning around the fairtax in 08. We are going to take this country back and the fairtax is leading the charge.