Jittery markets

[Evariste Euler Gauss]

Shares down etc. etc.

The oil price has now fallen so far that I'm hoping to get a "reward" of a gallon of petrol next time I buy a set of tumblers.

[SouthdownRebel]

Jittery markets

Time to add another imaginary zero to the end of the Important Numbers then

[Rogin the Armchair fan]

Jittery markets

The last time the FTSE took a jolt like this was in June 2013, when it similarly dipped to about 6,000. But it was at around 5,800 for much of 2012, so the fact it had spiked up ahead of June 2013, and everything since where it's been touching 7,000, does suggest that all of that was one huge speculative bubble and this is a return to underlying levels. Contrary to what some tell you, the stock market doesn't "create" wealth. It just makes some lucky gamblers wealthy.

[G-Man]

Jittery markets

The real crimnals are those trading in currency. I'd cheerfully entertain the notion of making exemptions for those fuckers in my otherwise principled opposition to capital punishment.

[ursus arctos]

Jittery markets

Looks like the Dow is going to open down by at least 600 points.

Fun times

[caja-dglh]

Jittery markets

I would argue you can't have a speculative bubble when a broad based index falls like this Rogin. Sector specific collapses sure, but this is more "we really screwed up on Chinese driven growth prospects".

[Kowalski]

Jittery markets

It's like nobody has questioned the logic of basing society upon an institution that's buoyed by the venal confidence of abhorrent Gordon Gekkos and severely weakened by Chinese whispers. Am I mad?

[Geoffrey de Ste. Croix]

Jittery markets

So the Tories get their recession in nice and early in time for the recovery in the run up to 2020. Cameron is one of the great underestimated political strategists of our time.

[Geoffrey de Ste. Croix]

Jittery markets

Kowalski wrote: It's like nobody has questioned the logic of basing society upon an institution that's buoyed by the venal confidence of abhorrent Gordon Gekkos and severely weakened by Chinese whispers. Am I mad?

Kowalski, There Is No Alternative.

[N est à?]

Jittery markets

So Red China had a plan to bring down capitalism after all, huh.

[N est à?]

Jittery markets

.

[beak]

Jittery markets

So Red China had a plan to bring down capitalism after all, purple monkey dishwasher.

[ursus arctos]

Jittery markets

Purple Monkey Dishwasher were egregiously overvalued. I really don't know what Whirlpool were thinking, but that's what happens when you give in to the herd mentality.

[anton pulisov]

Jittery markets

China out of hand

[anton pulisov]

Jittery markets

G-Man wrote: The real crimnals are those trading in currency. I'd cheerfully entertain the notion of making exemptions for those fuckers in my otherwise principled opposition to capital punishment.

Hey... I have bank accounts in two currency zones and have been known to dab in this.

The way I look at it, if the fuckers are going to do QE then I may as well be a step ahead of them.

[ursus arctos]

Jittery markets

To a large extent, this is the result of China being let loose in a Bull Market.

[anton pulisov]

Jittery markets

Very good.

What is going on now is profit taking. Loads of money was printed at low interest rates and handed over to the banks post-2008 real estate bubble burst. They ploughed the lot into a massive bubble in the stock market. The Dow Jones rose from 6600 to 18000 in the six years following the crisis. But because there hasn't actually been a real recovery, these stock price rises aren't actually based on improved economic performance.

1997-2000 was the tech bubble. 2003-2009 was a real estate bubble... 2009-2015 was a stock market bubble... The question is, where is the money going next? What bubble will the vultures flock to next? Obligations have already been snapped up (bubble there too) and are no longer returning much.

[N est à?]

Jittery markets

Ha ha Ursus, that's a great gag my friends are going to think I made up.

[Eggchaser]

Jittery markets

Nesta Arantes do Nascimento wrote: Ha ha Ursus, that's a great gag my friends are going to think I made up.

Ditto.

[ursus arctos]

Jittery markets

May a thousand flowers bloom.

Apple is up more than 15 percent from the open this morning.

[ad hoc]

Jittery markets

So the markets believe this is good news for their slaves?

[ad hoc]

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Sorry. Foolish of me. "The markets" love slavery

[Borracho]

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And I'll tell you another thing for free, they hate uncertainty.

[Toro Toro]

Jittery markets

Ursus wins the whole internet for that one.

Which by tomorrow will be worth about $5.

[Tubby Isaacs]

Jittery markets

Is there any chance this could fuck the SNP up?