If you can't make it here........

[Rubber Duck]

There seems to have been something of a change of key over on the other channel. :cool:

http://ricksblog.com/

[bwhhisc]

Good post by Rick. He is no doubt correct that the worst is yet to unfold.

[Rubber Duck]

Good post by Rick. He is no doubt correct that the worst is yet to unfold.

Long cry from when he was telling me to pile into Florida Real-Estate. But yes, you have to admit he is now pretty much On Message.

[bwhhisc]

Long cry from when he was telling me to pile into Florida Real-Estate. But yes, you have to admit he is now pretty much On Message.

Spot on. I think the Walmart news was a wake up call to many who held out some hope that money was just shifting from one retail segment to another. IMO the bottom is still a long way down....they are predicting we have only seen 20% of the forclosures on homes at this time.

http://query.nytimes.com/gst/fullpage.html?res=9B04EED81139F93BA25752C0A960958260&n=Top/News/Business/Companies/Wal-Mart%20Stores%20Inc.

[Rubber Duck]

Housing has a long way to go. I think in the UK the price slump will may be as high as 40% and the US won't be far behind.

The full nationalization of the much of many of the major banks will also kill the dreams of those looking for a short-term bull rally. At that point, we will know if Gold has any legs or not.

The biggest and most lasting psychological blow, however, will be the demise of the dollar. The British has got used to the pound being tossed around in the wind. We will get over it. The final demise of the Greenback though will destroy confidence like never before.

I don't actually think Bush and Greenspan are the cause of this, although they have handled it very badly. I think this is primarily about structural change of global markets. This is all about China challenging US supremacy, which in the end is a battle they will find difficult to lose, and even if they do they India will be queuing up behind them. This is Britain in the 1960s all over again. To get the necessary adjustments made this is going to take a massive re-education program. The British didn't get it for a generation, and without having the whole thing explicitly explained to them, neither will America. It takes a lot to get over the World Owes US A Living Syndrome.

Spot on. I think the Walmart news was a wake up call to many who held out some hope that money was just shifting from one retail segment to another. IMO the bottom is still a long way down....they are predicting we have only seen 20% of the forclosures on homes at this time.

http://query.nytimes.com/gst/fullpage.html?res=9B04EED81139F93BA25752C0A960958260&n=Top/News/Business/Companies/Wal-Mart%20Stores%20Inb.

[Wot]

Housing has a long way to go. I think in the UK the price slump will may be as high as 40% and the US won't be far behind.

The full nationalization of the much of many of the major banks will also kill the dreams of those looking for a short-term bull rally. At that point, we will know if Gold has any legs or not.

The biggest and most lasting psychological blow, however, will be the demise of the dollar. The British has got used to the pound being tossed around in the wind. We will get over it. The final demise of the Greenback though will destroy confidence like never before.

I don't actually think Bush and Greenspan are the cause of this, although they have handled it very badly. I think this is primarily about structural change of global markets. This is all about China challenging US supremacy, which in the end is a battle they will find difficult to lose, and even if they do they India will be queuing up behind them. This is Britain in the 1960s all over again. To get the necessary adjustments made this is going to take a massive re-education program. The British didn't get it for a generation, and without having the whole thing explicitly explained to them, neither will America. It takes a lot to get over the World Owes US A Living Syndrome.

Moved out of LLoyds some months ago apart from their general incompetence there were other issues. Best one- had to send some money overseas (from UK)- Llloyds cleared out my account and sent ALL my money to the receiving account. :down:

Fortunately it was to someone I know and managed to get my balance back. Lloyds compensation - 20 pounds sterling. :eek: