This is not a roller coaster ride.
This is an elevator with it's cable cut.
Property values are in meltdown.
Soon the banks will be the world's biggest landlords.
The banks have no money or liquidity, just a growing portfolio of properties no one wants to buy at any price.
City center flats in the UK are losing £500 a week in value.
£500 BILLION was injected into the money supply on Tuesday.
The market caught its breath and today stepped off a cliff.
God help anyone getting ready to retire. Your pension has lost 30% of its value over the last 8 days.
60% of all pensions are invested in the markets.
Blue chip stocks are not escaping the bloodbath.
Who knows what's about to happen?
Prague, Bangkok and Iceland have suspended their stock exchanges.
In fact the country of Iceland has just nationalised all its banks.
Its currency is in free fall.
BILLIONS of UK local government money deposited in high interest current accounts in Iceland are frozen.
Some local governments in the UK can't make their payroll liabilities next week.
The UK government has frozen Icelandic assets in the UK by using anti terroism laws.....WTF???
Is this 1929?
General Motors shares are now trading at prices not seen since the 1950s.
So much for Blue Chip stocks.
The markets may claw some ground back today but when no one is buying the price of stock has only one direction to go.......