Thursday, June 19, 2008

Global stock and credit crash alert from Scotland....

Jittery markets worldwide led the Royal Bank of Scotland to warn clients of possible upcoming financial turmoil.

From comes this alarming news:
The Royal Bank of Scotland has advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks.

"A very nasty period is soon to be upon us - be prepared," said Bob Janjuah, the bank's credit strategist. A report by the bank's research team warns that the S&P 500 index of Wall Street equities is likely to fall by more than 300 points to around 1050 by September as "all the chickens come home to roost" from the excesses of the global boom, with contagion spreading across Europe and emerging markets.
Glenn Beck was talking about this on Wednesday's show, and I also heard from a friend who is a financial wizard and keeps up with these things. Stay tuned....

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