The FTSE 100 has dropped again today to offically trigger a bear market.

You may well have noticed a lack of entries to the Trumpo Blog lately, well I have been well and truly consumed by the credit crunch blood bath.

Its Friday afternoon, and our lawyers, accountants and city advisers are earning their crust to satsify the red tape now strangling the british financial services industry. It will be another long Friday evening.

To say im battered and bruised is an understatement. If it wasnt for the good people in the business who Trumpo has a direct responsibility for, I would have thrown the towel in following the last two weeks. 

This industry is extremely resilient, as are the people that work in it, but to say the industry is at a low time ebb is an understatement.

Trumpo, with a heavy heart, has had to implement redundancy proceedings for many great people this week, along with managing a lack of funding from the lending industry, a regulator that isnt working properly and 100’s of advisers who are at the end of their tether with it all.

Well what does the credit crunh and resulting bear market mean ? 

wikipedia comment is as follows;

“A bear market is described as being accompanied by widespread pessimism. Investors anticipating further losses are motivated to sell, with negative sentiment feeding on itself in a vicious circle. The most famous bear market in history was after the Wall Street Crash of 1929 and lasted from 1930 to 1932, marking the start of the Great Depression. A milder, low-level long-term bear market occurred from about 1973 to 1982, encompassing the stagflation economy, energy crises in the 1970s, and high unemployment in the early 1980s”

From the trigger it’s offically battern down the hatches time.

Good luck to those fellow professionals who are unable to weather the storm, Im sorry for those that have to move to pastures new, it will be the situation whereby only the strong will survive. We have been here before, its been a good ten years, lets roll up our sleeves and get through it.

Your determined Trumpo.

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