The pound is down to a 31 year low against the dollar and the markets are sliding further. According to the Telegraph Business Editor the FTSE 250, launched 12 Oct 1992, is a better guide to the internal economy than the FTSE 100. It is now down 13% which is getting pretty close to a crash.
That chart is not remotely cheering over the next three years. A T-square of Neptune Uranus in Capricorn opposition Mars square a Libra Sun is under assault from tr Pluto conjunct Neptune at the moment, bringing devastation and confusion. Tr Pluto then reverses back in a scary, trapped opposition to Mars twice before the autumn as well as being in a disruptive conjunction to Uranus. In 2017/18 tr Pluto will grind inexorably away in square to the Sun; with two seriously unpleasant Solar Arcs in 2018 of Solar Arc Neptune conjunct Saturn and Solar Arc Mars opposition Saturn.
Mark Carney, the level-headed Canadian in charge of the Bank of England, 16 March 1965, has tr Saturn square a whole raft of his planets – Uranus, Pluto, Mars, Saturn, Venus, Sun from now onwards, trailing through 2017. Depressing and very hard work. But what’s more disturbing is that tr Neptune is conjunct his Saturn late this July through August, and again late Sept to Jan 2017 which will be highly uncertain to put it mildly. Then over 2017/18 tr Neptune opposes his Uranus, Pluto and finally Mars – none of which looks as if he is going to be able to pull the chestnuts out of the fire. He’ll pick up confidence in 2019/20 with tr Pluto trine his Jupiter, but that could be in another job.
There’s going to be a whole lot of poor people a good deal poorer for several years if these charts hold good.
A few comments from an investor.
1. The ftse250 was probably way over valued even before Brexit was thought of.
2. Because of the artificially high exchange rate in 2014/2015, a recession is way over due. The fall in sterling should alleviate this.
3. The ftse250 represents mature companies led by comfortable boards whose members have broad bottoms and well fed stomachs. Because of technological change, their time has come and gone. Away with the old and bring in the new.
4. Most people do not work in financial services, but in industrial and commercial companies. Maybe it is the turn of the latter to have their day in the sun whilst these financial conglomerates languish – a little like the big oil companies of the 60s, 70s and 80s.
Hi Marjorie,
Just a quick question please.
Presumably, everyone will be quick to blame the Brexit result for the possible financial hardships that may be about to hit us in the U K but if the FTSE 250 chart you have looked at indicate a downturn and severe difficulties anyway, then surely, even if we had had a victory for the remain camp ,the chart would still indicate big problems regardless of who won the vote?
Kind regards, CKR