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Time to stock up on tinned food, bottled water, and ammunition...

There’s so much big economic news breaking at the moment that it’s impossible to cover everything in any amount of detail – the whole Bradford and Bingley thing bears further discussion for a start (just how many failed banks is the UK government going to buy before the money runs out?) but events have overtaken us and right now there’s only one thing worth talking about: The US House of Representatives has voted down the $700 billion rescue plan for the US banking system which, if we’re honest, most of expected to be swept through without too many hiccups. At the time of writing, global stock markets are plummeting by record levels. By the time this news broke,...

posted on: Sep 29, 2008 | author: Lance