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Global stock markets are too high and set to fall, says Bank of England deputy (www.bbc.com)
submitted 5 months ago by [M] to c/technology@lemmy.today
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The US stock market is home to the world's biggest companies and has set a series of all-time highs recently despite warnings from the International Energy Agency that the global economy is facing the biggest energy shock in history.

Its like people are completely asleep to the energy and food crisis that is building up. I guess there has been so many crisis lately they they have stopped reacting.

If Hormuz doesnt open up, and I dont think it will, there will be a lot of big problems. Probably mostly for Asia and Europe, but im not sure if America will be immune. What if food costs increase? Fuel costs?

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[–] 4 points 5 months ago (5 children)

We keep seeing these articles & so far it keeps not happening, but eventually the system has to collapse, right?

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  • [–] [S] 3 points 5 months ago* (2 children)

    I think its a bit scary when an official person from Bank of England is saying it. But yeah, we will see. I think Trump is creating a global crisis right now and if that doesnt affect the stock market, I will be very surprised.

    A crashing stock market is normally what comes before a huge depression, when grocery prices are extreamly high, there are rations, and people dont have money to buy food.

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  • [–] 1 point 5 months ago (1 child)

    It already affected the stock market (and it's ongoing).

    Remember when that person in a totally unrelated questioning argued the Dow was above 50k? The next days trump pulled some insane bullshit and this is what happened:

    graph of dow descending far below 50k after it rose all the the months before

    Other markets weren't immediately affected that much, but then he started the Iran war and that put a dent in all global markets. They seem to recover quicker tho.

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  • [–] [S] 1 point 5 months ago

    Im very interested in what happens this coming week. I think the American market will keep going higher, because investing institutions think it cant crash. And maybe they know it cant. There is a lot of inside info going on.

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  • [–] 1 point 5 months ago

    The bubble will pop at some point, but I don't think much will happen until housing is massively disrupted, like there are mass foreclosures, evictions, or failures of the companies giving out housing loans.

    We could have received a necessary correction if we didn't give out stimulus checks during COVID-19, but that would have hurt politicians' popularity, and probably wouldn't have many them many corporate friends either.

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