RBS [Royal Bank of Scotland] issues global stock and credit crash alert

Telegraph UK ^ | 19 June 2008 | Ambrose Evans-Pritchard

[LomanBill]

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....

[LomanBill]

On Drudge...

[Publius]

http://www.freerepublic.com/focus/f-news/2032744/posts

[proxy_user]

So we should dump our RBS stock?

[Southack]

I have fond memories of Ambrose Evans-Pritchard telling me what I wanted to hear about a global crash back when I was a survivalist in the late 1970’s and early 1980’s.

...no one else could so convincingly pitch doom and gloom like Ambrose.

Alas, he’s got a poor track record of calling it correctly, though!

[LomanBill]

Ack... did a search on RBS with no results.

[LomanBill]

>>Alas, he’s got a poor track record of
>>calling it correctly, though!

The article is rather sparse on details.

Wonder what he’s short on?

[Joe Miner]

Wonder what he’s short on?

Brains.

[blam]

China and India watch money flood out to America over inflation fears

[LomanBill]

>>...no one else could so convincingly pitch
>>doom and gloom like Ambrose

In this article though, he’s pretty much just quoting direct from Bob Janjuah, RBS’ credit strategist.

[LomanBill]

Very interesting factoid that’s not on the MSM’s radar:

“Dubai house prices up 78%, another surge guaranteed”
http://arabianmoney.net/2008/06/18/dubai-house-prices-up-78-another-surge-guaranteed/

Bubble bubble toil and trouble...

[cherry]

"...no one else could so convincingly pitch doom and gloom like Ambrose."

ever hear of Howard Ruff?....ever listen to this character from some Gold pushing company, his name I think was like "Joe Battaglia" or similar.....everything about him is gloom and doom.

[Left2Right]

The tide is definitely turning.

[Tunehead54]

Thanks Blam. I needed that. ;-)

[LomanBill]

>>So we should dump our RBS stock?

 

I suppose that depends on who is lying.  This time.    A lack of honesty;  that's the fundamental crux of this whole mess.   People lied to get mortgages.  People lied to make mortgages.  People lied to sell the mortgage backed securitized instruments.  Goldbugs. Short investors. 

 

Lying and deception have become SOP; like some multi trillion dollar poker game in which nobody knows who is holding what securitized cards.

 

RBS Stock?  I have no idea.   It's an abstraction that really has no concrete value.  Symbolic wealth the existense if which is demarked soley by an arrangement of magnetic molecules in a disk drive on some computer system.  Plastic.  Errasable.  Nonexistent.

 

Folks want to invest in something of lasting value?  Invest yourselves and your time in building relationships with the folks you live with.  You can't have a dependable relationship with 1's and 0's in cyberspace;  my grandparents lived through the last depression - and that is what they taught their children, who then taught me.

 

When my wife's mom died in South Dakota last year, the whole little town showed up.  The community center was full.  There were over 200 people packed in there, along with the fire trucks; and that's pretty normal in that town, and, from what I've seen, pretty normal in the little farming communities all over the American Midwest -what's left of them anyhow.

 

It's not something easily appreciated unless you've witnessed it for yourself.

 

Heart Land

 

This isn't just a valley; it's an extended family, composed of sovereign individuals - each endowed with inalienable rights by their creator.  Multiple generations of neighboring families - living, marrying, working, building, dying, and, when required - fighting together.  

 

The American heroes of WWII from this valley were held together by a common faith - in their God, and in their Families, and in their Nation; and held together by the land which sustained them;  much of which is no longer owned by their families - or even by Americans.

 

As Hank Williams Junior sang "A country boy will survive".

 

Faith, Family, Friends, and Fellowship - A foundation of  Four Fs;  that is what enables the country boy to survive.  That's what Obama and his followers are searching for, in vain, in their fruitless collectivist meanderings.  They can't quit see it, but they sense a shaddow of its form in the illusion Obama presents... and so they follow him.

 

The American Heartland is no Marxist abstraction; it is an American treasure built BY Americans, FOR Americans;  but it's being lost, squandered; sold out because a monetary tool became the object of worship.  The market is NOT God, people.  But we forget...

 

"These are your gods oh Israel, who led you out of Egypt".

 

... and so perhaps now, like the Israelites before us, we stand on the edge of a sandy wilderness.

 

Forget about the 1's and 0's.

 

Got Foundation?

[Wiseghy]

We’ve been hearing this stuff from the UK this week. Our media is eating it up. Sounds a tad extreme to me, but it has been a very long time since we’ve seen stagflation.

Welcome back to the Carter years, brought to you by Pelosi & Reid and the “Triple D’s” Hope you like it America; more to come in ‘09.