The BEL20 drops 5%.
Apparently those steep rises don't last forever ... see article "These things end badly most of the time..."
A lot of support at 3500, a little bit at 3000 and at 2500 there is very heavy support.
If we are heading for a recession we ( as a consumer) have the advantage that oil will get cheaper :-)
We won't have any work to drive to ... but gas will be cheaper.
Time to put some quality European stocks on the radar/watchlist that become cheaper by the minute:
Agfa-Gevaert
Option
Dexia
Omega Pharma
TomTom
From Euphoria to total panic in less than 6 months, I thought everybody was aware of the mortgage meltdown in the USA...
This will become a severe problem in Europe, price drops in real estate of at least 30% seem very logical.(more for Spain, Russia and the United Kingdom)
1 comment:
Until now the mortgage meltdown in the USA has been hidden from European news for the masses. Only the specialized press was reporting on it.
I only found out the first time through your blog.
I sure hope you're right about the price drop in real estate; prices in Europe now are incredibly high and as far as I can see it unsustainable by the economical climate of today.
To buy an average house now you'll be looking at a mortgage of 30 years eating away 1/3 or in worser cases even 1/2 of a family income. Where's the time gone our parents bought a house at 1/10th of the prices we have to pay today in Europe.
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