World market crisis
Friday, 19. September 2008, 18:59:03
Well if you have been following the news which you should be doing. You might have seen the headlines about the world markets in turmoil.
In a nutshell a leading investment company in the US filed for bankruptcy after failing to secure a buyer. Then another big company merill lynch was bought by the bank of america. Earlier this year another american bank, bear sterns had to be bailed out by the federal reserve bank.
Thats all fine and well about how does it affect me. Well, as we all should know the american stock exchange basically rules the world markets. So anything happens there, it will affect the rest of the world.
Now if banks, (the place where people have been conditioned to keep there money) are going backrupt then where do people put there money, under their pillows?
And in the latest news, short selling has been banned. Basically thats when traders take advantage of stock prices falling. So the powers that be are looking for a scapegoat so they attack the traders, the people that actually keep the market going and the american tax payers are gonna foot the bill for all these huge banks greed and stupidity. Apparently about one trillion dollars of american tax payers money is going to be used to say for the banks bad debts. Yay capitalism.
In a nutshell a leading investment company in the US filed for bankruptcy after failing to secure a buyer. Then another big company merill lynch was bought by the bank of america. Earlier this year another american bank, bear sterns had to be bailed out by the federal reserve bank.
Thats all fine and well about how does it affect me. Well, as we all should know the american stock exchange basically rules the world markets. So anything happens there, it will affect the rest of the world.
Now if banks, (the place where people have been conditioned to keep there money) are going backrupt then where do people put there money, under their pillows?
And in the latest news, short selling has been banned. Basically thats when traders take advantage of stock prices falling. So the powers that be are looking for a scapegoat so they attack the traders, the people that actually keep the market going and the american tax payers are gonna foot the bill for all these huge banks greed and stupidity. Apparently about one trillion dollars of american tax payers money is going to be used to say for the banks bad debts. Yay capitalism.
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WIDGETIZE
brunobear # 19. September 2008, 22:08
The end result will be that the US dollar will not remain the dominant currency with which the world trades.
Wall Street will no longer be the major stock exchange of the world.
The people of America are going to have to get used to a significant reduction in their standard of living.
Anonymous # 1. October 2008, 13:31
Irish government guarantees all bank deposits
http://uk.reuters.com/article/hotStocksNews/idUKWLA044420080930