History tells us that the biggest crash is yet to come.

Today massive signals that this crash is getting closer.

1. DUBAI cant pay its debts and has asked time to pay. This means massive black holes for the World banks from today ( Thursday )

2. GM has announced 9,000 job cuts in Europe and SAAB deal has fallen through.

3. HEATHROW - more air routes being cancelled ( already 79 routes gone this year !!! more announced yesterday - wednesday )

4. RETAIL SECTOR - grim news all round so far in run up to Christmas.

5. UK Banking Sector is worse off than we have been told - most banks still needing to borrow off Government each week ( Confirmed on Newsnight on Tuesday )

I have just spend a few days driving around the UK and have seen loads of major businesses have closed down including many large pubs and eateries on main A routes. I have walked around empty shopping centres where I have overheard shopkeepers moaning about lack or no business at the moment.

6. MUSIC VENUES - it is noticable that the main music venues in London have empty diaries for January and very few events in February and March at the moment. Just check a few of the main websites to see.

There are many rumours going around financial sites in the USA that about 70 banks are close to going under and can only last til Christmas and that as much as 50% of USA retail is on the edge and could go under unless the Thanksgiving Holiday shopping boost saves them.

January is the potentially the month where it could all fall apart. Hopefully in the UK we will be sheltered by our membership of the EU from the worst of it - especially if it is centred on the USA. But the signs on the High Street are very very very bad and worse than at any time in the living memory of anyone.

Biggest one day drop in the Stock Market today - squeaky bum time for all investors because the "rally" has been totally fake.

Tomorrow we will see the Bank of England weigh in and try and stem the fall which will happen again tomorrow.

The UK and USA banks are basically still totally bankrupt. Only the GOLDMAN GANG have any cash and they are laughing all the way to the proverbial bank.

Brown and Darling have been telling PORKIES all the time about the economy - and Germany and France are probably in deep poo poo as well as well as Spain and Italy.

The bubble is about to go POP in a spectacular fashion and GOLD will be the new currency of choice because the pound and dollar and Euro will inflate at a rate not seen since Weimar and Zimbabwe.

Hold on to your hats - this is going to be very exciting !

Even NEW LABOUR now agree !! The drop in GDP will be the biggest since the 1930s.

www.dailymail.co.uk/news/article-1231282...pest-slump-ever.html

I see no sign of a recovery based on real money. Therefore my Christmas spending this year will match last year - less than £50. This is not the time to be spending money but saving / preparing - for the possible massive inflation which could yet occur - or the bankruptacy of the Country which would see our fuel and food supplies disrupted and more companies go under.

RBS and Lloyds and Northern Rock are now nearly all owned by the Government who are sitting with a TRILLION of debt in these companies. They only operate because they are now Government banks - they are shell companies. Their shares are really worthless if the Government pulled out. It will take them 20 years to restore their balance sheets to parity - and that is if they make a big profit each year.

This financial disaster dwarfs the mess Labour made of the economy in the 1970s.

At some point the PUBLIC will have to start paying off the debt. Tax rises to 50% ( including indirect taxes going up - VAT to 20% - Fuel Tax adding 50p to a litre - road charging - Green Taxes ) and anyone who works in the PUBLIC SECTOR on a wage above 30K will surely find their job under threat in 2011 because the Government will have to save this money.

They should have let RBS and HBOS go under. It would have been a cheaper option ( Like Lehman ) and then the system would not be so weighed down as it is now.

Massive mistake by BROWN by saving these banks. He may have single handedly destroyed the UK as a G4 country and destroyed 1000s of years of the UK being a World Power.

He has to be the worst leader of the UK in its history and followed the most vain and stupid. Since 1991 our country has been ruled by fools.

'You're doomed,all Doomed'

You're starting to remind me of Private Fraser in Dad's Army BR.All these conspiracy theory posts just add an unwanted sad note to this great board.
What we need in this climate is good news,and perhaps how we can make the best of things,not a reminder of how many jumped out of the windows last time round etc.

I'll probably be dead myself soon due to real problems,last thing I need is the Harbinger of Doom making me feel any worse.
Go on, chill out,put your obvious talent to some use,you'll find yourself much more appreciated.

Just warning everyone that sadly BROWN speaks with forked tongue.

As everyone rushes out to spend money again that they dont have in order to have a fantastic Christmas for nearly 10 million UK people who are out of full time work ( That is 2 in 5 of the adult working population ) they know that things are bad.

For those still in work their jobs are literally hanging by a thread.

I predicted the fall in Stock Markets and that the Bank of England would throw billions into the Market today to stabilise it - as well as 42 billion to bail out RBS again.

The press dont cover this stuff. They are trying ( understandably ) to talk up things.

I prefer realism. We are in the beginnings of a possible 10 year Worldwide depression - we are only 18 months into that depression. Therefore, talking things up is irresponsible at this stage. It did not work in the 1930s and it will not work now. In the 1930s it led to a World War and Fascism. I would hope that being realistic this time as individuals and a country we can avoid history repeating itself.

BR wrote:
Just warning everyone that sadly BROWN speaks with forked tongue.

As everyone rushes out to spend money again that they dont have in order to have a fantastic Christmas for nearly 10 million UK people who are out of full time work ( That is 2 in 5 of the adult working population ) they know that things are bad.

For those still in work their jobs are literally hanging by a thread.

I predicted the fall in Stock Markets and that the Bank of England would throw billions into the Market today to stabilise it - as well as 42 billion to bail out RBS again.

The press dont cover this stuff. They are trying ( understandably ) to talk up things.

I prefer realism. We are in the beginnings of a possible 10 year Worldwide depression - we are only 18 months into that depression. Therefore, talking things up is irresponsible at this stage. It did not work in the 1930s and it will not work now. In the 1930s it led to a World War and Fascism. I would hope that being realistic this time as individuals and a country we can avoid history repeating itself.

Actually the stock markets have been recovering today.The economies are not going to collapse,just some necessary readjustments from previous gains.
The oil price drop will actually benefit most of us.

Again have a think about your comments,you're a nice guy,spread some joy,not every half baked conspiracy found lying around the net.
I've made my point,so will not be adding to this regardless of future comments.

The stock markets are not recovering at all. They are still well below where they were over a year ago and that is despite in the UK £150 billion of QE money being pumped in.

I have not read any conspiracy theories about any of this and posted my posts before even the press was reporting on these events. They are my own views based on working in Government finance in the early 1990s and having been trained in how these finance systems work and operate ( The flow diagrams were a joy to learn ).

What has happened is that the Banks have over-reached themselves Worldwide with investment.

At the moment they are suffering massive losses because of a) Property( Sub prime ) and the b) commercial property is beginning to feed into this ( Dubai included ) the c) part of the whammy is the Derivatives Problem ( There are QUADRILLIONS of losses in this sector which are being kept off the balance sheets at the moment but have to hit the fan at some point )

Basically there is not enough money in the World to cover the "gambling debts" of the banks of the UK and USA.

Each bank is probably about £500 billion to £2 Trillion in debt. This cant be covered by Government - so they do so only when they have to bail out individual banks via their asset scheme.

It is like you or me moving around the same money each month to cover several credit cards......we are never actually paying off the debt - and we cant even really afford to cover the debts. We just take out another credit card each month to cover the shortfall. It is possible to run up hundreds of thousands of personal debt this way - but eventually the house of cards collapses. The Banks are just doing this on a massive scale.

Have you ever wondered where the UK PLC makes its money ? we have virtually no industries left and our main utilities are owned by foreign companies. Basically we have built the last 20 years on "illusory" money - "interest" on other people's work.

Now that bubble has burst the UK is bankrupt. We keep printing our own money to keep the illusion going in the UK - and the BBC continues to pretend everything is OK and anyone who says otherwise is a Conspriacy Theorist......ahem.

What does you area make and sell ? not alot I would expect to keep everyone in the standard to which they are accustomed. The Public Sector employs most people pushing paper - and 2/5 of everyone dont work because of unemployment or disability.

The UK is over as a financial power - our only way is to charge more interest on our loans to other countries......making us less competitive. This is only a short term fix. In the next 5 years it will all come down around our ears - regardless of which party is in power - ONLY A MAJOR WAR can stop this.

Hmm, isn't this the same "BR" that was merrily predicting a global meltdown along with an assassination attempt on Barak Obama around October 25th and informed this board that he was ready to sit back and watch it happen.

How is that working out for you BR? Or is it October next year that this is all supposed to happen?

LOL I did not predict Obama would be assassinated. There was a video on You Tube which I drew people's attention towards about a little boy in South America who had done so.

The CRASH I did predict correctly for last October and the new one has started - this is not rocket science - the signs are there and anyone can predict this !!!

Today DUBAI shares have already lost another 6% - so that is another Crash ( two days in a row ) The big markets are being propped up with funny money - but Banks like Lloyds are trading far below their 12 month highs ( click on BBC Business site and do a search on Lloyds or Nat West )

With December being notoriously slow for financial news probably the main pain of this second crash will come in January - March when it feeds through from last weeks events. Expect many more retailers to go under in January and banks to foreclose on many businesses in order to stem losses so that they can stem the Dubai losses and re-balance their balance sheets.

I would love to be able to say there will be a recovery at some point in 2010 - but I can only see things either staying the same or getting worse next year. 2011 if the TORIES get in may be better......but I wont put any money on it.....the 2012 Olympic effect may lift the mood.....or not. 2013 will see the first real signs of growth and we will get back to where we were in 2006 in about 2016. Thus there will have been a TEN YEAR depression. The longest since the 1929 - 1940 one.

Paying off debt is the way to do things at the moment if anyone has any spare money. If there is no debt then investing in things which will hold or increase their value is better than savings which are running below the rate of inflation so are losing money.