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| shmoogle Member Since: 07 Sep 2005 Location: ... and for every sprinkle I find, I shall kill you! Posts: 24350  
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It'll have greater ramifications than just the oil markets I suspect. Tends to be that whatever economic ripples occur in the US economy become larger waves once they reach our shores. We could be in for a rocky old time of it |
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Mon Mar 17 2008 10:24am |
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| Steve in germany Member Since: 15 Nov 2007 Location: Bad Lippspringe Germany Posts: 980 
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The Fed will do what they did last year, through a |
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Mon Mar 17 2008 12:05pm |
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load of reserve money at it and hope it goes away, the UK will probaly be sucked in this time| shmoogle Member Since: 07 Sep 2005 Location: ... and for every sprinkle I find, I shall kill you! Posts: 24350
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Did I hear JPM were buying out Bear Sterns for a paltry sum? |
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Mon Mar 17 2008 12:22pm |
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| Tim in Scotland Member Since: 30 May 2005 Location: Driving along in my automobile Posts: 17476 
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Depends what you mean by paltry S, they got Behr Stern for something like $230million............................ could buy a lot of fuel for a TDV8 with that much 2020 Pangea Green 1st Edition D240 New Defender 110 is here and loving it
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Mon Mar 17 2008 12:57pm |
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| shmoogle Member Since: 07 Sep 2005 Location: ... and for every sprinkle I find, I shall kill you! Posts: 24350
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But for an entire investment bank, that's not bad! |
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Mon Mar 17 2008 1:01pm |
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| Tim in Scotland Member Since: 30 May 2005 Location: Driving along in my automobile Posts: 17476
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Especially as they also got guarantees on something like $30 billion of Behr Sterns Subprime debts!
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Mon Mar 17 2008 1:02pm |
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| Tim in Scotland Member Since: 30 May 2005 Location: Driving along in my automobile Posts: 17476
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S, just heard on the lunchtime news that Behr Stern's shares fell from $200 each to $2 (junk bond status??) on Friday, I suppose JPM bought at the fire sale price! There will be a lot of folks in the US who are now having to completely reconsider their pension arrangements because their system relies a lot more on private investment than we do here, and shares in something like Behr Stern would have been considered a good investment up to Friday! 2020 Pangea Green 1st Edition D240 New Defender 110 is here and loving it
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Mon Mar 17 2008 1:16pm |
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| JayMann Member Since: 19 Jan 2006 Location: Stop acting like snob when you just won the Lotto! Posts: 22898 
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Just a bit of a drop them |
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Mon Mar 17 2008 1:18pm |
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| shmoogle Member Since: 07 Sep 2005 Location: ... and for every sprinkle I find, I shall kill you! Posts: 24350
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I worked for a company during the dotcom crash where that happened to their stocks. There was a point where we were all paper millionaires (not including the mandatory vesting period for the stock we'd been given), but then 3 months later, stocks took a similar tumble into the "few cents" territory. That wasn't the most enjoyable feeling, I can tell you |
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Mon Mar 17 2008 1:19pm |
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| Tim in Scotland Member Since: 30 May 2005 Location: Driving along in my automobile Posts: 17476
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A friend of mine is now having to think about going back to w*rk because of the amount of money he lost as a shareholder of Northern Rock....... it seemed too good to be true when he invested (like all of these get rich quick schemes, they can also make you poorer pretty quickly too!). Not that it is really causing him hardship - he can still afford to have a 40ft sailboat here and another in the Chesapeke bay and to fly business class back and forward every 3-4 months to go sailing. 2020 Pangea Green 1st Edition D240 New Defender 110 is here and loving it
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Mon Mar 17 2008 1:25pm |
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| PauloAmore Member Since: 27 Jan 2007 Location: Bonnie Scotland Posts: 1292 
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£2 a litre by the end of the week... I'd bet everything on that not happening this year. And I think things will get better. Especially if the US recession continues / starts (depends on your opinion). If it spreads to Europe, oil will et cheaper still. Remember. 75% on our fuel is tax, so we'd need a doubling of tax to get us even in the ballpark and I figure that wouldn't happen. A massive drop in the dollar wouldn't do it either. It has been to $2.5 to the pound before but remeber, Sterling is in the shi**er too so I don't think that will happen again anytime soon. Sterling is being flattered by the $. Big time. £1.29 - holy sh**.... Aberdeen has been sheltered from those kind of prices. That said, I'm a contrarian investor. But sometimes it just pays to go with the flow. Tech / gold / oil whatever... 2022 P440e AB |
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Mon Mar 17 2008 2:33pm |
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| PauloAmore Member Since: 27 Jan 2007 Location: Bonnie Scotland Posts: 1292
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That is bad news... Just surprised he'd have so much of his portfolio in one place. He sounds a smart guy in the first place....(to get where he got) 2022 P440e AB |
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Mon Mar 17 2008 2:34pm |
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| Alicatt Member Since: 11 Jun 2007 Location: Eating in Eksel or Ice cold in Alex Posts: 1435 
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SWMBO was telling me last night that diseasel had gone up from €1.06 to €1.29 from friday to sunday over in Belgium.
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Mon Mar 17 2008 4:26pm |
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| lemm Member Since: 03 Jan 2008 Location: London Posts: 135 
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apparently the purchase price for Behr Stern is less than the real estate value of the head office... RRS First Edition S/C, Vesuvius Orange, Rear Entertainment, Alpine TUE-T200DV, Stormer Alloys. (+ 19" MTR's for playing in the snow!) |
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Mon Mar 17 2008 9:40pm |
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