let's talk about the stonks market(s) and possible depression ๐Ÿ’ธ๐Ÿ’ฒ๐Ÿ“‰๐Ÿ˜ฌ

looks bad

is this the big one? iโ€™ve tried to learn more economics and stock market stuff but it just seems dumb and fake

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I know absolutely shit all, fuckin NOTHING about how any of this works, but surely thereโ€™s some interventions in place to stop it happening like last time?

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i tried to find out if theyโ€™d put protections in place in case corona tanked the global economy and :confused:

That seems optimistic!

I remind you


Shouldโ€™ve taken my free shares out a few weeks ago when they were ยฃ15 a go.

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Wait, did the last recession end?


Could be the big one. Come out of left field as doubt many would have guessed it would be a pandemic that would cause itโ€ฆ
I mean, when entire economies are entirely dependent on growth to sustain them, and then everything shuts down for an indeterminable amount of time, that is bbbbad news. The modern world hasnโ€™t experienced anything like this.
Worry for peopleโ€™s jobs


Probably going to have an effect on Brexit to an extent isnโ€™t it? Reckon even this government will realise they canโ€™t bully out and lose a load of nurses and other public sector workers.

A bubble economy plus a pandemic plus Russia and Saudi Arabia going toe-to-toe over oil prices is a recipe for disaster. As per usual, itโ€™s going to be ordinary people who lose out - pensions, savings, on top of job losses. Absolutely terrible. Looks hideous right now, and the Dow isnโ€™t even open. Of course, all the freaks who love bear markets are out talking about opportunity, but who knows where the bottom is?


The last recession in the UK lasted from April 2008 until June 2009 if you use the academic definition of a recession, i.e. 2 successive quarters of negative GDP growth.

Other definitions are available.


Driven by two things.

  1. Corona looks like itโ€™s here for the foreseeable future and traders are now pretty much convinced thereโ€™s gonna be a lengthy recession across the world
  2. Russia and OPEC holding a race-to-the-bottom price war on oil (the price of oil impacts everything in the economy).

If you remember that the whole worldwide economy is predicated on the need for year-on-year growth, then the capital flight makes a lot of sense - you ainโ€™t gonna be getting your 5% growth this year.

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Whatโ€™s a bear market?


Iโ€™m meant to be going to Russia next month. Will the exchange rate improve (so more rubles for my pounds)? Or will everything get more expensive there?

Sorry, I know itโ€™s very trivial and not the matter at hand but I donโ€™t really understand macro economics at all. Itโ€™s too big and weird to get my head around

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Aye. I think the instructive bit for us in the UK is how poorly weโ€™ve recovered since the recession on standard economic terms and how weโ€™ve failed to mitigate the worst impacts; it feels to me like weโ€™re much worse equipped to see out the next one (whenever it happens) than we were the last one.

A strong decline in prices over a period of time - typically 20% or more.


When stock markets fall 20% or more from their recent highs.

Iโ€™m a big fan of the stock photos used for market crashes


Todayโ€™s FT:


Now is this good or bad if you were, hypothetically, coming up to needing to remortgage a property that will be given a ยฃ0 valuation?

It seems to me that if the value of the property is ยฃ0, then youโ€™re living on a toxic wasteground or something?

(I would expect that interest rates in general will fall, but lending will be harder to come by - criteria for loans will become tighter).