The bear market will be back at the end of next year.
That's the verdict of Credit Suisse, which today issued a bleak warning to investors of further pain ahead, particularly in the UK.
In its 2010 equity strategy note, the Swiss banking heavyweight predicted shares will suffer across the globe late next year as a government bond funding crisis unfolds. But analysts warn that the UK is the worst off, with the highest chance of a government debt funding crisis of any country in the G7.
They also believe such a crisis could force the Bank of England to expand its quantitative easing programme and that the monetary policy committee risks losing credibility with its overly-optimistic forecasts for economic growth this year and next.
Credit Suisse warns that the UK economy is in dire straits and that its long-term problems appear much more severe than those in the US and Europe.
LINK HERE
Prepare for the Great Depression.
Survival Seeds
After Britain falls the USA is next, we are tied to them and we will be next, better prepare!
ReplyDeleteYup. I think London will be ground zero for the great string of defaults to encircle the globe.
ReplyDelete2010 will be the year of sovereign debt defaults. you see they way banks fail every friday 2010-2015 it will be nations. the nations that will default will be Latvia, Ukraine, Greece, Ireland, Italy, then when 2010 ends the shocker that will crush the "recovery" will be the UK default on their debt. We will see more nation defaults the coming year. The thing that will come first for the UK will be a downgrade in their credit rating to BBB then total collapse.
ReplyDelete@ 6:30 PM
ReplyDeleteAgreed.
Nations are going to be popping like ripe zits on a blossoming teenager!
Funny that the Vatican's wealth could buy all the above countries assets 100x over. They won't be hurting after stealing/hoarding the majority of the world's gold.
ReplyDeleteA buddy of mine who owns a BMW/Mini dealership told me that US sales of the Mini Cooper line were down 44% last month vs November 2008.
ReplyDeleteAmericans crack me up. They are apparently back to buying tank SUVs.
oh yeah crash coming crash coming like a broken record
ReplyDeleteI bought my third black Cadillac Escalade last month, the 5th one in the last year! I just wish I could take it with me to Cancun for my vacation. I love sitting in the driver seat parked, jacking off to Phil Collins "In The Air Tonight". It's ironic because most people can't feel it, but the crash is coming. When? None of us really knows, nor how, nor to what extent. So just be patient and continue your lives as if nothing was going to be different.
ReplyDeleteUpdate: most of my portfolio has been zapped. My wife left me and the creditors want my gas-guzzling and polluting speed boat which totes my fat ass around the beach while I throw dollar bills around at 18 year old bimbos. I think I'm gonna go off myself, but not until I see season one again of the Apprentice. It's out on DVD.
ReplyDeleteThe crash isn't coming, it is hear; just a slow death. We are being vampired.
ReplyDelete"The crash isn't coming, it is hear; just a slow death. We are being vampired."
ReplyDeleteI agree 100%! The sad thing is that a lot of people aren't completely noticing it and are going about as if nothing was seriously wrong.