Ok, so George Osbourne is on holiday and the woman from the treasury on BBC Breakfast confused me......wise MNers what does the stock market panic today mean????

(16 Posts)
Becaroooo Fri 05-Aug-11 08:00:55

...for regular people like me?

What are the implications on housing market, pensions, public spending?????

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aquos Fri 05-Aug-11 08:11:25

Watching with interest.

I get the feeling this is something major, but I don't know why or what I should be considering.

EightiesChick Fri 05-Aug-11 08:12:51

<marks place waiting for the wisdom of others>

I was about to watch the coverage of it at the top of the hour, but the phone rang and I missed it.

EightiesChick Fri 05-Aug-11 08:17:12

The Guardian have a liveblog running on this here

The major fear seems to be 'world economy slipping back into recession'. Basically, everything's going to get worse. Again.

Becaroooo Fri 05-Aug-11 08:17:29

Glad its not just me then!!! grin

Lots of worried looking traders on BBC Breakfast segment......hmm

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OhYouBadBadKitten Fri 05-Aug-11 08:18:27

<marking place> I miss the news for one day only and the world takes on a new dimension of pottiness.

Paschaelina Fri 05-Aug-11 08:26:47

Am I right in assuming this has a lot to do with the failing Eurozone, that Italy and Spain are teetering in the brink of defaulting on their debts and that the IMF doesn't have enough money to bail them both out if they both go over? Which makes the markets very nervous and America is fragile right now anyway, the FTSE closed down some percentage points and the NYSE has followed it?


davidtennantsmistress Fri 05-Aug-11 08:27:45

been saying it's coming since last summer. grin I think a very very fine line is being walked atm, and it's only going to take one blip and everything will come down again like a deck of cards.

Paschaelina Fri 05-Aug-11 08:27:57

Or so I fathered from Robert Peston on the news last night. hmm

EttiKetti Fri 05-Aug-11 08:29:41

Haven't seen tv yet, bit do recall them saying when this recession started, there would almost certainly be a Double Dip and the second would be worse

strandednomore Fri 05-Aug-11 08:30:39

I don't think the Japanese tsunami helped.
We're all looking to India and China these days...They'll be bailing us out soon!

Paschaelina Fri 05-Aug-11 08:45:09

Oh fgs! G athered! Not fathered. Bloody phone!

EightiesChick Fri 05-Aug-11 08:50:10

I've never understood who pays into the IMF anyway. If it's mainly the Americans then looks like trouble.

EightiesChick Fri 05-Aug-11 08:51:00

Anyone know where George has gone on his holidays? Hope it has good wi-fi. His Blackberry must be overheating.

Paschaelina Fri 05-Aug-11 09:35:17

Sky news- "Earlier the Dow Jones Industrial Average closed down more than 4%. Asian markets also suffered similar losses on Friday.

Japan's Nikkei 225 index lost 3.4%, Australia tumbled 2.4%. Hong Kong's Hang Seng dropped 5%."

so no Asian bailout then...

Becaroooo Fri 05-Aug-11 09:36:47

What would a double dip recession mean though???

What would happen to house prices?
Energy prices?
Public spending?

Am worried sad

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