Discussion in 'Current Affairs & Debate' started by OutSynk, Mar 12, 2020.
Apparently today was worse a crash on the FTSE than 2008 or 1987. Which makes it worst economic crash in almost all of our lives*
*except maybe the elderly @lolly who I believe was working the mines in 1929.
The numbers are just insane. Obviously we've already had a week of it, but £160 billion was wiped off UK stocks today alone.
Can't believe the Tories have caused a global financial crash.
I do believe in 1987 I was hiding in the gents' toilets in Littlewoods and peeping through the spy hole.
i haven't absorbed it at all
Everything these days is exaggerated and stock markets are not immune to this. There are a number of reasons why reactions today arent the same as 50 years ago, or even since 2008.
Algorithms and machine learning has a big role to play here. Trades are done in instants and one algorithm run by a large stockbroker can fight against another downwards. We've seen stock markets suspended because of that sort of shit.
And the role of hedge funders, who will actively "bet" against share prices by using derivatives. You can bet a few of those are making a pretty penny.
Stock markets go up, stock markets go down. Things happen. They'll come back again. They're not actually the reason why any company is going to go bust.
Makes my job more fun, anyway.
It just reinforces how little supposed "wealth" is actually real and how much of it is just perceived value. One change in perception and OOOOOOOOOPPPPPSSSSS!
I mean, the idea that people can't TRAVEL TO AMERICA and that they won't be going shopping at all is a BIT OF A CHANGE IN PERCEPTION AS THINGS GO
Anyway it's been most fun watching the normally utterly straight-laced FT losing its kittens over this
I've said it before and I'll say it again (unless Coro wipes me out) - stocks are the ONLY THING that people sell when they're on sale, rather than buy.
I'm going to be the optimist here and hope that corona brings some much needed societal and economic change in its wake
gullible, I know, but a boy's gotta dream
i fear it'll only make us dumber and number.
thanks for stabbing the dream balloon!
acquaintance living in austria whose work put everyone on leave: "and now they closed the fucking schools. i'd rather get it than spend two weeks at home with my children". they're in their tweens and early teens so i kinda get but still...
us survivors will make a better tomorrow
"Stabbing The Dream Balloon" is a delightful combination of words, well played.
Stock market seems to be stabilising
I guess people can only panic for so long.
they just injected it with a trillion and a half dollars! it's stabilised but i doubt it will make a big difference in the long run.
give people paid leave though? we can't afford that!
BA and Norwegian Airlines looking very wobbly right now, wouldn’t be surprised to see staff layoffs imminently
all we need is an eyjafjallajökull and a power failure and we're back to prehistoric times.
power could be out any moment now... imagine if all three technicians in a control room had to be quarantined
The £ crashed worst today than Brexit day.
I accidentally paid an invoice in Euros twice on Monday. Luckily we actually made money when it was refunded to us today.
And the cost of government borrowing went up a fuckload.
Both indications that national and international investors have no confidence in Johnson's handling of this.
what is everyone doing with their savings?
i don't think i'll be looking to buy my apartment now (or look for another anytime soon - i'm starting to question living in this city overall) and i've had some cash just sitting in the bank at zero interest rate. i'm bad at capitalism.
I was actually going to invest (with Mr M, DOUBLE POWER (bottom)) but now I don't know. but it seems my only shot at a decent pension
it seems like my only shot at making any money soon short of opening a grocery - the bar is dead, the advertising market (for non-essential stuff) is dead and dancing is dead.
Savings? Hahaha, good one!
@COB, stop buying all that weebo junk and grind the market instead
One of my friends is a flight attendant with BA - she's not been in the job long so I can well imagine she'll be a casualty of this.
Exactly. The dollar is shit too and for the same reason. You elect clowns, you get a circus...
The USD almost being the same as the Euro to the £ is absolutely fucking ridiculous.
We'd JUST managed to get our profit margin sorted at work after two post-Brexit years of HELL (We sell mainly in £ and buy a lot in €/$) and HERE WE FUCKING GO AGAIN.
Only the UK could lose record values on their currency during a GLOBAL PANDEMIC. Everyone should be fucking up... but hey guess what, the UK is fucking up even harder guys!
They are I think.
Anyway interest rates now at 0.1%. A record low.
There’s been two rate cuts since I got a letter about remortgaging and yet there doesn’t seem to have had any impact on the rates the banks are offering me
ikr? to compare, my credit card interest rate is 18.9%.
i heard they were raising bank taxes here yesterday.
it just blows my mind how corrupt everything is. a big story in the us today is how a few senators dumped millions worth of stock after a coronavirus briefing at the end of january. some of those are reported downplaying fears over the situation afterwards.