Are we about to have a massive economic crisis?

JBod · 6 May 2010 at 22:38

We have a unique situation, massive Euro debt (Greece totally screwed up) causing lack of confidence outside the EU of the EU... plus a historic general election.

They are opening the markets at 1am to deal with this and just today we had the massive market drop (the worst since the banking crisis a couple of years ago).

Dolph · 6 May 2010 at 22:41

The markets are opening at 1am to allow trading based on the election result (as they have in previous years, because markets in other places are open when the results come out and it puts our traders at a disadvantage if it remains closed).

On the Euro issue, I wouldn't be surprised if we see the single currency implode and splinter, especially with the noises germany has been making the last couple of days.

cheets64 · 6 May 2010 at 22:42

Tbh stocker traders and bankers have caused a mess, we need to settle down and just get heads down and work. I mean how can stocker brokers be worried about the debt of Greece know, we know how bad its been for weeks.

The EU was always a bad idea and its coming home to roost now, thank god we are not in the Euro.

RadoX · 6 May 2010 at 22:42

hope so

PermaBanned · 6 May 2010 at 22:42

It's possible. I'm hoping it does happen. Would provide the perfect battle ground to get rid of capitalism once and for all.

scorza · 6 May 2010 at 22:42

IMO no, speculators love market turmoil because they can make greater returns. That's all this is, Anglo-Saxon speculators spreading panic because of a bit of uncertainty in the markets.

That said:
Greece is totally screwed
Ireland, Portugal and Spain are very screwed
UK & US are mildly screwed
Germany, France, Benelux are ok
Asia is very ok.

cheets64 · 6 May 2010 at 22:46

If we have a massive economic crises a world war would only be round the corner.

Mr Jones · 6 May 2010 at 22:50

cheets64 said:
If we have a massive economic crises a world war would only be round the corner.

Do you just copy and paste this around threads regarding economical crisis/Election? The day WW3 starts within the next 6 months because of economical crisis, is the day I'll eat my shoe.

big_white_dog84 · 6 May 2010 at 22:52

This must at least mean that we are almost guaranteed never to adopt the euro. What ever happened to Gordon Brown's 5 tests?

cheets64 · 6 May 2010 at 22:56

Mr Jones said:
Do you just copy and paste this around threads regarding economical crisis/Election? The day WW3 starts within the next 6 months because of economical crisis, is the day I'll eat my shoe.

Only takes one country to invade another, best way of getting out of recession is war.

Redman · 6 May 2010 at 23:01

big_white_dog84 said:
This must at least mean that we are almost guaranteed never to adopt the euro. What ever happened to Gordon Brown's 5 tests?

I imagine he failed all of them. Like he did with his work for the country

leaskovski · 6 May 2010 at 23:02

ABOUT!? I thought we were already there?

Efour · 6 May 2010 at 23:04

cheets64 said:
Only takes one country to invade another, best way of getting out of recession is war.

Lets invade Faliraki, ill bring the Ouzo

G-MAN2004 · 6 May 2010 at 23:07

leaskovski said:
ABOUT!? I thought we were already there?

I thought we came out of it a few months ago, albeit just a tiny bit.

leaskovski · 6 May 2010 at 23:16

G-MAN2004 said:
I thought we came out of it a few months ago, albeit just a tiny bit.

Yeah, usual "we are doooooomed"

manic111 · 6 May 2010 at 23:17

RadoX said:
hope so

Yes, why not, it'll be fun :rolleyes:

Dr House · 6 May 2010 at 23:22

Anyone else thinking of dumping the the pound?

SlugForAButt · 6 May 2010 at 23:23

D1ngd0ng · 6 May 2010 at 23:26

Asia is very ok.

Japan is far from ok

Iraklis F.C. · 6 May 2010 at 23:28

http://www.nytimes.com/interactive/2010/05/02/weekinreview/02marsh.html?ref=weekinreview

the worst is yet to come imho