RaymondPierreL3Well, Prof. #RicahrdMurphy is angry and very worried for our financial systems. A report in the FT has triggered his fear of a global markets collapse. This is because #Traders are selling #bonds to cash out and invest in #Stocks in fear of losing out. They are buying into over valued assets, and sometimes shares which do not have assets backing. Murpy predicts a #1929 style market #Crash *This* *Year* :
“I am angered by most in the media, who are completely distorting this story to say that markets have lost confidence in governments, when in fact the true story is that we should have lost confidence in markets.
I am angry with the media that says nothing about the idiots trading this way, whilst demanding that governments must serve them.”
This could be as bad as 1929, and maybe very much worse
As Katie Martin has noted in the FT this morning, there is something exceptionally strange going on in the world's financial markets at the moment, and we should be taking note. Since 30th March this year, the S&P 500 index in the USA has gone up by approximately 17%: This, as Katie...