MAKING money in the credit crunch: Going long on Obamas. THIS morning the FTSE experience its biggest ever tenth-of-a-second fall. Fact! In the US, at 3:24 and 12.24 seconds yesterday, the Dow Jones was lower in real terms than it had ever been at that point in trading in its history on November 5th. It’s is a day that will linger long in the memory. One day one from that, the Telegraph reports that the ‘Obama bounce’ has stopped bouncing. Jessie Jackson eyes are still moist and the BBC’s fizzy wine still has fizz, and the bounce is over? Time perhaps for another election or a recount or something to invigorate a moribund marketplace. Yesterday’s Black Wednesday is not quite today’s Black Thursday, but the Dow was down by as much as 331 points at one point. That’s a drop of...

Dow Jones closes below 10,000 points for first time since...

MORE news that no-one knows what’s going on in the money markets as the Sun screams: “BLACKEST DAY”. Or as the Mirror puts it: “BLACKEST MONDAY.” Black Monday is the name given to Monday, October 19, 1987, when stock markets around the world crashed. Should not yesterday be “Blacker Monday”? Readers may be confused. To be in the black means to be free of debt; it is in the red that suggests debt and poverty. The Sun’s headline should read: “REDDEST DAY.” Happily for Daily Express and Daiuly Mail readers, it’s all a “MELTDOWN”. Elsewhere on the Sun’s front page, readers learn that the US Treasury rejected a $400billion plan to bail out the financial system. The failure of US lawmakers to gather enough votes to pass the $700bn rescue of the US financial system...

2008-09-29  Headline - More Drama in Wall Street   Today saw the Dow Jones drop 777.84 points, it’s largest every one day fall, but not the largest percentage fall. Reports are saying that this fall was about the 5th largest one day fall. What does all this mean for our clients looking to relocate to the US. To be honest it does not mean much yet. The problem seems to be centered around the banking industry as opposed to an economy wide decline. In recent years many Americans took out what are called sub-prime mortgages. A sub prime mortgage is where a person borrowed say $300,000 on a house worth perhaps $320,000. The interest payments should have been around $1,500pm  at 6% if the borrower just paid the interest. A sub-prime payment meant that the borrower would only be...

The Queen and the UK Government are locked in a secret dispute over royal demands for increased public funding (the “Civil List”) to meet the growing expense of the monarchy. Palace aides have told ministers they need extra money to offset the cost of maintaining the Royal Estate of palaces and pay for increased fuel, food and staffing costs. But the Government is refusing to increase the £15 million it pays annually for the upkeep of the Queen’s occupied palaces and is fending off demands for a large rise in the £7.9m Civil List which pays for the monarch’s public functions. Ministers argue that, in the present economic climate, Whitehall budgets are already overstretched. Royal aides counter that Parliament has a constitutional duty to ensure the Queen is...

Financial turmoil continues to haunt Wall Street as price of oil made a one-day record...

UK comedian Russell Brand (pictured above), while hosting the MTV awards, ranted that President George Bush was a “retarded cowboy”. Brand, who is (or was) a virtual unknown in America, left the royalty of the music world stunned as he championed Barack Obama, ran down George Bush and made lewd jokes about the Christian pop band Jonas Brothers. Ignoring the innate patriotism of Americans, Brand harangued the Hollywood audience, telling them they should vote for Barrack Obama “on behalf of the world”, before insinuating that America had lower standards than Britain when it came to picking leaders - quite a statement when you consider an incompetent like Gordon Brown ! The manic Brand, obviously covering up his nervousness and lack of connectivity by trying to be over the...

I have previously prophesied (since around about one year ago on this blog) specifically on the American economy, that recession and a type of finanical collapse is coming - and worse still that already has come in that year since I said that, I expect still to occur based on what I have seen last year and indeed the year before that, and also again now. Today, upon awaking, I felt God whisper to me “The Dow”, and saw something significantly detrimental happen to it.  Though I do not that much about economics at all, I know enough to know the Dow Jones is in some way a reflection of the financial health of the USA nation and is tied in with the stock market, though I do not understand the mechanisms at all. [See comments in the section below where this is explained}...

Apologies in advance for being the bearers of such shocking & scary news regarding the most recent Rupert Murdoch outrage. Rupert Murdoch has won his battle to take over rival US media business Dow Jones, owner of the Wall Street Journal. No wonder the wanker's laughing. He's gone and grabbed himself something else. His News Corporation company is paying $5.6bn (£2.7bn) for Dow Jones,...