Originally posted by scooterscot
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You said the stock market has been relatively stable. You know that's not true, so I called you out. The stock market has been reacting to the FED printing like a junkie on free crack.
BP, which a number of UK pensions depend fell almost 60% since the start of the year. Is that what you call stable?
A few month ago I recall saying for the FTSE to drop that low we'd have to see some major names disappearing off UK plc. Suggested BP, their debts put them on a knife edge, was laughed out the room. HSBC I'm watching you...
The CEO said they were aiming for a carbon neural business by 2050, I'll wager they'll achieve that by 2021
BP, which a number of UK pensions depend fell almost 60% since the start of the year. Is that what you call stable?
A few month ago I recall saying for the FTSE to drop that low we'd have to see some major names disappearing off UK plc. Suggested BP, their debts put them on a knife edge, was laughed out the room. HSBC I'm watching you...
The CEO said they were aiming for a carbon neural business by 2050, I'll wager they'll achieve that by 2021
2 years ago you called a market crash. Let's take this to mean a stock market crash as this is what we all generally know as 'market'. You called this, according to this thread, Feb 2018. Let's further make this simple for you and assume you're referring to the market position at the end of 2017 ....
FTSE 100 Dec 2017 = 7142
FTSE 100 Dec 2018 = 7687
FTSE 100 Dec 2019 = 7644
So, by my reckoning, from you calling the crash until the pandemic hit and world economies were closed down, the market was stable and growing slowly. This is exactly as I said. If this confuses you, put these 3 numbers into Excel and draw a graph - you'll see the little line going upwards
No one has suggested the markets have been stable since January, that's a narrative you've made up. To help you, this is my exact quote:
You do understand that the pandemic closed down economies, and this has had an impact on markets. Prior to the pandemic the markets were stable
Surprise, surprise, this had an impact on stock markets and they dropped like a stone down to 5400 for FTSE100.
For the record ... you didn't call this prior to the drop although you did retrospectively claim you called it. What you did call though was the FTSE would crash to 3200, and the only way was down. Contrary to this the FTSE 100 has climbed to where it is today which is 6100.
As for the likes of BP, well fella, is it a surprise that a company that is so dependent upon transport has been so negatively hit by the massive reduction of global transport. It would have been more surprising had their stock not dropped. There will, of course, be other companies who's stock has strengthened despite the current global issues - i can't be bothered to look so I'll leave that to you
The Fed numbers you talk about have all been going on since the pandemic and economic lockdown. Had Cov19 not had an impact, the Fed actions (and BoE) would not have happened.
In summary ... you're a prize idiot
at this stage.
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