We interrupt our regular gloom and doom for a special dose of Ambrose-on-steroids Gloom and Doom. Like Siegfried used to say on Get Smart, “PREPARE TO PANIC!”

“RBS issues global stock and credit crash alert”, by Ambrose Evans-Pritchard, Telegraph, June 17, 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.

Such a slide on world bourses would amount to one of the worst bear markets over the last century.

Igor says “fault,” but Ambrose says “Richter.”

Also, it is constantly reported that former employees didn’t get their last paycheck. In the case of the AE’s, we didn’t get our last 2 paychecks. They closed the company like 2 days before they would have paid us for the previous months commissions earned. Then there’s the last month of August on top of that. Ops got paid every 15 days, we got paid a month in arears, so we lost more than everyone states. Then they blamed the BK court, knowing very well that assets are frozen when BK is filed. In the mean time, they started working on setting up the new company. Unconscionable.

That said, I would take a job there again. This time looking out for myself and not the company, so when I would see the kind of things we’ve witnessed as employees and mgmts ability to “look the other way”, the OTS, or Feds would get an “anonymous” call. Hire me, please. hahaha….

Igor says pox

No matter what the flower looks like, it’s still rooted in a pile of manure.