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RBS issues alert - big crash almost upon us

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  • 19-06-2008 1:03pm
    #1
    BenjAii
    Closed Accounts Posts: 545 ✭✭✭


    And this guys predictions of the coming stockmarket apocalypse apparently carry more weight, because he got it so right in predicting exactly what was going to happen with the credit crisis ....

    So far we seem to have felt this relatively lightly in Ireland, wonder if that will continue .....

    "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.

    Such a slide on world bourses would amount to one of the worst bear markets over the last century."

    http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/18/cnrbs118.xml


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    #2
    shnaek
    Registered Users Posts: 1,165 ✭✭✭shnaek


    Hard to know how accurate this report is. Just because the guy was on the mark with the credit crises doesn't mean he is on the mark with this report. There are obviously tough times ahead, for the next few years at least, but there are also vested interests out there who have lots of money on shorting the market in these panic ridden times.


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    #3
    Clytus
    Registered Users Posts: 471 ✭✭Clytus


    shnaek wrote: »
    Hard to know how accurate this report is. Just because the guy was on the mark with the credit crises doesn't mean he is on the mark with this report. There are obviously tough times ahead, for the next few years at least, but there are also vested interests out there who have lots of money on shorting the market in these panic ridden times.


    as per Anglo....those CFDs should be made illegal.


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