Many brokers have left Wall Street after the recent investment banks collapse. Probably in the range of 300-500,000 people have seen their jobs disapperaring or on the brink of extinction, due to the recent bank losses. In this blog, doitinvest.com will try to share what happened with those lives after they left Wall Street. Read more
Tag Archive for credit crunch
Retiring money from your bank account was a cumbersome process in the great depression crisis in 1929-1933. You had to find out the deposit papers, line in an incredibly long queue, which could have lasted days. Plus that often the money ceased to be available right in front of you. Read more
Of course in hindisght it is always easy to make comments in hindsight and we at www.doitinvest.com can be accused in this blog that this is exactly what we are doing. But without these analysis we would not learn from mistakes and of course we would be doomed to repeat them, which is not the wish of our readers I guess. Read more
If you are one of those investors who get scared when things go ugly, of course the answer is not. After all, seeing the banks shares crushing, the prices of raw materials going up and making 50% of some sectors’ companies going bankrupt and the job cuts in the US, all this gets kind of scary. Read more
Interestingly enough, this week the sterling pound has dropped to its lowest level in 12 years against a broad basket of currencies amid a wave of weak economic performance indicators released. This GBP weakening kept alive a talk about a cut in interest rates by the Bank of England. Sterling’s trade weighted index hit 89,5, the lowest level since October 1996, and the pound fell close to a record low against the Euro.
In the second quarter, UK’s economy virtually grounded to a halt, whilst the houses prices fell at the fastest pace since August 1991. Even worse, the UK retail sales plunged to their lowest level in 25 years. This raised expectations of interest rates cut, which would further undermine the pound’s appeal to investors. “The recent ULK data have been universally bearish for the pound and the path of least resistance remains further weakness”, said a JP Morgan analyst.