economic crisis england

economic crisis england

Credit Crisis Worst is Over- We’ll Believe it When We See It!

“Sell in May” says the old stock market adage, but the bulls were in no mood

for old wives’ tales last week. Markets were in rally mode after the better

than expected US jobs report, and news of more liquidity injections from the

Federal Reserve. The Federal Reserve did what most traders were expecting

them to do in cutting rates another quarter percent down to 2%.

“The worst is behind us” rhetoric continues to flow from central bankers on

both sides of the Atlantic. Markets held the previous week’s gains to close

the week higher for the third week in a row. The FTSE rose 2%, but the

biggest gainers were tech stocks with the Nasdaq 100 putting on 3% for the

week. Volume has been healthy and the twin inflation evils of Gold and Oil

are continuing to deflate from their highs. Oil dropped down to near $110 at

one stage, but recovered to finish the week down around $3.00 a barrel. Gold

faired the worst of the pair, closing at its lowest levels for 2008, just

above $850.

It wasn’t plain sailing for all of last week. Banks again gyrated as Mervyn

King’s testimony before The Treasury Select Committee, provided a steady flow

of warnings about the UK economy. Any home owner hoping for a return to

attractive rates of recent years will be disappointed after King made it

clear that the Bank of England’s recent liquidity plan wasn’t aimed at kick

starting British Mortgage lending. With UK house prices showing their first

year on year decline for decades, and US house prices down 12% by the same

measure, it is only going to get worse for house building stocks. UK home

builders such as Persimmon and Barratt Homes stemmed the flow last week with

small losses, but they may have much further to go if the US housing stocks

and dramatic house price collapse are anything to go by. Indeed last week

more data was released supporting anecdotal evidence that the housing slump

has indeed started.

After the deluge of data that hit last week, the forthcoming week is at least

reduced in its intensity. The stand out announcements come on Thursday from a

European perspective with the Bank of England announcing their latest

interest rate decision. Analysts are expecting the MPC to keep rates on hold

as they balance the tricky terrors of inflation and an economic slow down.

The ECB are also holding a press conference an hour and a half after the MPC

announcement.

If we take a step back from the euphoria, there is certainly room to question

the bullish case from here. The jobs numbers were not as bad as expected, but

the figures still make for grim reading. Private payrolls have fallen for

five straight months, and weakness in the goods producing sector is

intensifying. The overall trend of an increasing weakness in US job creation

remains.

The VIX Options Volatility Index, a good measure of market fear and

complacency, now stands at levels not seen since late December 2007, around

the time that the Dow Jones fell nearly 2000 points in less than a month.

While another 2000 point drop may not be in the offing, there are growing

indications of complacency in this rally.

One rather speculative trade may be to place a one touch bet that the S&P 500

will touch 1350 in the next 16 days at BetOnMarkets.com. This trade could

return 160% if markets pull back significantly from their current levels.

-THE END-

About the Author

About BetOnMarkets.com:

BetOnMarkets.com is the world’s leading Fixed Odds Financial Trading website. Fully licensed and regulated globally, BetOnMarkets.com handles around 18,000 trades a day, from over 130,000 registered clients. Over 15 million trades have been processed since inception in 2000. The multi-award winning BetOnMarkets.com allows traders to speculate on the movement of the worlds’ major financial markets, up down or sideways without actually owning the market, stock or currency you are buying.

editor@my.regentmarkets.com
Tel: 448003762737

Is the Bank of England Calling for the Next Step in the March towards Global Government?

Mervyn King said that unless politicians act to create an international body with the authority to reform the monetary system, the world would be consigned to another crisis in a matter of years. He warned that although much attention was being paid to efforts to overhaul the financial sector, in the meantime the global economic imbalances which fuelled the crisis were worsening.

Will is correct, but what seems to fly over his head is the fact that the whole situation has been contrived from the very beginning.
The interconnectedness of the National Economies of the World and the impending collapse has all been a deliberate ruse to formulate a World Financial system along side a World Political system sometimes called “The New World Order”.

We have all been led up the proverbial garden path for decades by “globalist’s” towards Global Fascism.

End of transmission.

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