Whilst heading for the Earth’s Core yesterday, the FTSE-100 plumbed the magic depths of 4366, passing 4435 on the way — its monthly low when the Blair government was elected in 1997. So there you have it, folks. All the puff and funnymoney was soapy bubbles after all. When everybody gives up making anything or saving anything to become a property wideboy instead, we all end up in the poorhouse. Bailouts follow overtrading as night follows day. Borrowing short and lending long is fun for an afternoon, but hopeless long term. Big unearned bonuses make wasters. Loss is loss, and as poor old King Lear pointed out years ago on his way to the Funnyfarm, nothing will have nothing. Fancy that. Now What?
Showing posts with label FTSE. Show all posts
Showing posts with label FTSE. Show all posts
Thursday, 9 October 2008
FTSE 4435: Bank Crisis. Bingo!
Whilst heading for the Earth’s Core yesterday, the FTSE-100 plumbed the magic depths of 4366, passing 4435 on the way — its monthly low when the Blair government was elected in 1997. So there you have it, folks. All the puff and funnymoney was soapy bubbles after all. When everybody gives up making anything or saving anything to become a property wideboy instead, we all end up in the poorhouse. Bailouts follow overtrading as night follows day. Borrowing short and lending long is fun for an afternoon, but hopeless long term. Big unearned bonuses make wasters. Loss is loss, and as poor old King Lear pointed out years ago on his way to the Funnyfarm, nothing will have nothing. Fancy that. Now What?
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