The “Independent” Newspaper in London has published a stunning story today that an aid to former Prime Minister Gordon Brown is warning the public to:
1) Have cash money in your possession as banks may close and credit cards may not work
2) Have plenty of canned Goods and water to survive ONE MONTH in your house.
3) Agree with your family on a meeting place in case communications go down and you have to leave ! ! ! !
http://www.independent.co.uk/news/uk/politics/stock-up-on-canned-food-for-stock-market-crash-warns-former-gordon-brown-advisor-10469509.html
Folks here in the USA should take this advice RIGHT NOW. Don’t wait. If you wait and other folks don’t, they will strip the stores bare before you ever get there.
It’s not just him saying it though:
The former special adviser added that financial levers, such as cutting interest rates and Quantitative Easing (QE), which the Government was able to use in 2008, are no longer available – a view that has been echoed by other market critics.
Alistair George, chief strategist at Edison Investment Research, said: “By keeping rates so low policymakers took the risk that they would face a crisis without having room to cut rates, and their bluff has been called as markets demand yet another round of QE. This is unfortunately where the world has got to by keeping ultra-loose monetary policy in place for far too long after the crisis of 2008, in our view.”
Alongside fears of a slowdown in Chinese growth and demand, investors are also spooked by fears over elections in Europe’s debt-laden countries Greece, Spain and Portugal.
http://www.express.co.uk/finance/city/600394/Gordon-Brown-Damian-McBride-buy-bottled-water-tinned-goods-over-China-black-monday-crisis
Global Crash: What They’re NOT Telling You
LIVE – THE CRASH OF 2015
China’s ‘Black Monday‘ as stock market slides 8.5%
International Business Times–48 minutes ago
China’s Stock Market Suffers Biggest One-Day Fall Since 2007
Global Stock Markets Suffer ‘Black Monday‘
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Credit Risk Surges for Europe’s High-Yield Companies Amid Rout
Bloomberg–27 seconds agoChinese shares tumbled by the most since 2007 on Monday, stocks in Germany … sending the yields on benchmark Treasuries to a four-month low and those on …‘Black Monday’: £56bn wiped off FTSE 100 as China fears spark …
Telegraph.co.uk–40 minutes agoGlobal currency wars: what China’s devaluation really mean …. Larry Summers, former US treasury secretary, has described a September lift-off as “extremely …FTSE plunges below 6000 on China’s ‘Black Monday’
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Denmark to Borrow 14% More in 2016 as Budget Deficit Widens
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Wall Street Journal–12 hours agoBut there is speculation of China’s central bank stepping in soon with fresh monetary policy easing measures, which could alleviate the stock market collapse.-
EMERGING MARKETS-Emerging assets hit new multi-year lows on …
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Turkish lira sapped by political uncertainty, central bank inaction
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MarketsRouble set for new record low amid EM storm
Financial Times–5 hours agoThe rouble is on track to close at a new record low as it leads the plunge in emerging market currencies. The dollar has climbed 3 per cent against the rouble …Russia’s ruble falls to all time low on China’s ‘Black Monday‘
Ukraine Today–1 hour agoFears of a Chinese economic slowdown pushed the Russian ruble into freefall on Monday (August 24) approaching all-time lows. The ruble slipped 3% to 71.32 …
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Official rate of Belarussian rouble falls 5 pct vs the dollar – Central bank
Reuters–4 hours ago… around 5 percent on Monday to 17.601 to the dollar, according to central bank data, coming under pressure from currency volatility in Russia and elsewhere.
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Taiwan Stocks Sink to 2012 Low on China Slowdown ‘Panic’
Bloomberg–7 hours agoTaiwan equities entered a bear market last week amid concern China’s slowdown and currency devaluation will further dent exports, which has already dragged …
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Chile peso slips to new 12-year low, breaks 700 per dollar barrier
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Daimler Cutting 1500 Brazil Truck Jobs as Demand Plunges
Economists cut Brazil’s outlook for 2015, 2016
Brazil May Register the Lowest GDP in 25 Years in 2015
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Brazil Bovespa index slumps to 6-year lows following China
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Brazil Leads Latin America Currency Rout as Stocks Join Selloff
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Illinois Towns Drowning in Pension Debt From Hundreds of Funds
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Puerto Rico statehooders see opportunity as woes deepen
The Detroit News–3 hours agoThe local government receives lower Medicaid and Medicare reimbursements, … a year inMedicaid alone than if it were a U.S. state, said island congressional …-
CANADA FX DEBT-C$ tumbles to 11-year lows asoil dives 4 pct on …
Reuters–1 hour agoCANADA FX DEBT-C$ tumbles to 11-year lows as oil dives 4 pct on China. * Canadian dollar at C$1.3249 or 75.48 U.S. cents * Bond prices higher across the …Angry investors capture head of Chinametals exchange
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Mexican peso hits record low vs. dollar, could go lower
The Mexican peso fell to a record low of 17.25 to the dollar Monday amid a broad selloff in emerging-markets currencies. The Mexican currency MXNUSD, -0.758914% recovered slightly in recent trade to 17.10 to the dollar, but many strategists expected it to go lower as a broad selloff in emerging-markets currencies continues.
CORRECT: Stoxx Europe 600 ends 5.3% lower for worst day since Dec. 2008=========================================================
Some advice to China’s government and central bank:
You’ve tried everything else. Maybe you can put on those slippers and try this: -
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SJ