Is your 401k doing well? How do you think it will do in the near future?
The Royal Bank of Scotland (NYSE:RBS
) is thinking your value is gonna go down. From the UK Telegraph
comes the following:RBS issues global stock and credit crash alert
By Ambrose Evans-Pritchard, International Business Editor
Last Updated: 2:50pm BST 18/06/2008
The Royal Bank of Scotland has advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks.
"A very nasty period is soon to be upon us - be prepared," said Bob Janjuah, the bank's credit strategist.
A report by the bank's research team warns that the S&P 500 index of Wall Street equities is likely to fall by more than 300 points to around 1050 by September as "all the chickens come home to roost" from the excesses of the global boom, with contagion spreading across Europe and emerging markets. [...]
Like I said before
, it is gonna be a rough ride so get ready to kiss your assets goodbye if you don't prepare for what is coming.UPDATE:
Who is correct? The money lenders or the money makers?
Thomson Financial NewsMajor US company CEOs more pessimistic, still see no recession
06.18.08, 1:15 PM ET
WASHINGTON (Thomson Financial) - The CEO's of top US companies are somewhat more pessimistic about the economic outlook than they were in the first quarter of the year, but they still do not see a recession, now or on the horizon, according to a survey released today by the Business Roundtable.[...]