Global Financial Crisis Mk 11

Once more share markets are taking a bath with massive losses round the world.
As trillions of dollars evaporate, fund managers and investors alike are tearing their hair out. Is this is the “productive market” the “experts” want us to invest in? Is this the market we should trust rather than silly old property investments (or gold or other hard asset).
Those of us who  believe that property investment IS an investment vehicle benefiting the whole economy; we know that tomorrow our properties will still be there, will be worth the same, and we can go and touch and feel them any time we like.

Write this motto on your bed head and check it every night:

It is not the return ON your investment, it is the return OF you investment.

Global markets dive after Wall Street sell-off International
August 5, 2011

Stock markets in Asia and Europe recorded sharp declines Friday, extending a global equity sell-off after Wall Street had its worst day since the 2008 financial crisis.

Japan’s Nikkei and South Korea’s Kospi both closed down 3.72% and 3.70% respectively. Australia’s All Ordinaries closed down more than 4%.

Hong Kong’s Hang Seng was down more than 4% in afternoon trading, while China’s Shanghai SE Composite Index was down 2.2%.
he UK FTSE 100 Index and Germany’s Dax index were both around 2.5% lower.

The falls came after the Dow tumbled 512 points Thursday — its ninth deepest point drop ever — as fear about the global economy spooked investors.

“The conventional wisdom on Wall Street was that the economy was growing — that the worst was behind us,” said Peter Schiff, president of Euro Pacific Capital. “Now what people are realizing is the stimulus didn’t work, and we may be headed back to recession.”

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