Black Monday

[potshot]

We could be in for another black monday next week.

America's unemployed rose by a recessionary 5.5% and the dow jones dropped nearly 4%. The FTSE closed at 5908 down 88 but will open monday much lower and I suspect the dow will keep on falling Oil hit $1.39 a barrel.

Billions will be wiped off shares and pension funds will be hit. The world economy has gone down the pan because of the US governments and feds mismanagement. Europe has failing economy but raising inflation with interest rates going up. US has failing economy rising inflation and will have to raise interest rates going up. Here its the same failing economy and rates will have to go up. China's economy is starting to have problems and will slow rapidly and its only them and india's growth whats has stopped a recession happening 2 years ago.

The oil price now is higher in real terms than in the 70's when high oil price caused a world economy, but now we have the credit crunch and a failing housing as well. We have a false inflation number which 3 times higher than the government says. And while the country is going down the pan all they are interested in slapping us with green taxes. Brown has blocked the daily express from doing petition for duty to be reduced of fuel because labour hates the car. The recession what will hit will be deep and hard as the miracle of economic britian based on credit. Knowing that the cost of fuel is killing this country, causing hardship this governement will rather see their hatered of the car stop them from reducing fuel duty to starve off a recession or make the recession shorter.

The pound is moving to parity with the euro and it will happening making european holidays expensive, food import from europe more expensive, products produced in europe more expensive. And when the pound is worthless against the euro this governement will join the euro because will have no choice to try save the economy from melt down.

Basically we are all stuffed unless you are rich.

And thats the end of my doom and gloom rant over with.

[ilovehols]

Who cares, if your happy and skint then so be it. We have no control over these thing so might as well not worry...... after all its holiday in 5 weeks and that what this site is all about