Now that I've got your attention...here's the story from the Telegraph:
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....MORE
More from the Telegraph:
HT: DealBreaker who wrote-
"Let it not be said that the only folks who peddle crazy rumors and end of the world fear and bloggers and hedge funds. Apparently some analyst at RBS is advising clients to brace for a major global crash in the next three months. Inflation meanwhile will paralyze central banks. Of course, this is a report from Telegraph's Ambrose Evans Pritchard, who's pretty fond of peddling these stories himself, so we can't vouch for certain that he's characterizing the RBS report completely accurately. But evidently the report did use the phrase: "all the chickens come home to roost." Speaking of Pritchard, one of Europe's most prominent Clinton haters back in the day, he must be pretty upset that Hillary is out." (via FT Alphaville)
Hedge star Paulson says credit crisis not over (Reuters)
John Paulson, the hedge fund manager who made $3.7 shorting subprime is still short credit and financial stocks. It was widely believed that Paulson had moved out of his short trade, perhaps hoping to ride credit back up the way he rode it into the trough of the crunch (to mix already inapt metaphors). Not so. Paulson says we still have a long way to go.