It was Royal Bank of Scotland a few days ago. Now its Barclays....

It was Royal Bank of Scotland a few days ago. Now its Barclays. Its getting hard to ignore.
You can call the worst June since the Depression headline a technical low /media frezy if you like but these banks are not joking I fear.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/27/cnbarclays127.xml

Barclays Capital has advised clients to batten down the hatches for a worldwide financial storm, warning that the US Federal Reserve has allowed the inflation genie out of the bottle and let its credibility fall "below zero".

"We're in a nasty environment," said Tim Bond, the bank's chief equity strategist. "There is an inflation shock underway. This is going to be very negative for financial assets. We are going into tortoise mood and are retreating into our shell. Investors will do well if they can preserve their wealth."