Luck of the Irish. Something to take your mind off DU infighting.

[TalkingDog]

You can dogpile Cassandra instead:

http://www.wiseupjournal.com/?p=82

snip:

Did you know the Irish stock market (ISEQ) has crashed and lost over 40 billion Euro in one year? If your not one of the few stock investors in Ireland then your answer will probably be no. Not surprising since you’re not really being told.

snip:

You would think when a major event happens like a stock market crash, and all the banks losing half of their value the news media might take it on as their responsibility to inform the public of such a collapse. The media hasn’t, and the general public still does not know. Talk to people about it, I have, they don’t know it has crashed. I’ve been following TV news for the past few months just to see how they are informing the public of this. They tell them the percentage change for the day (up 0.5%, down 1%), but I have not seen as of yet them tell the big picture truth, that the entire market has collapsed, biggest selling in it’s history, all the banking stocks have lost billions in one year.

The massive amount of shares being sold during 2007 in the Irish Market worryingly dwarfs previous years by over 400%. This amount of volume points to institutional selling, the ‘big boys’ who know what’s going on are out of the market. Since November a ‘dead cat bounce’ has occurred, this is what traders call it when after a major crash the stock bounces slightly up and then starts to head back down again. This is likely due to the industry influencing traders that it’s a ‘good time to buy’, a common practice in any industry during a crash. In the U.S they told the public Enron was a barging at -50%, then it went down to -100%. The ‘big boys’ can’t sell the rest of their shares if there are no buyers.

Earlier this year the ultimate bank of all central banks, the Bank for International Settlements (BIS) submitted it’s 77th Annual Report (April 1, 2006 - March 31, 2007) which talked of a coming global depression. You have to understand this was not a fortune-teller’s prediction, this organization has the power and influence to create booms and busts. In many economist’s analysts the popping of the bubble they created was part of the plan, all debt bubbles burst, and in the end mammoth bubbles cause mammoth depressions.

/snip


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