Furious, disillusioned investors march on the Cyprus Stock Exchange On March 24th, after an accumulated fall of the Cyprus Stock Exchange of nearly 50% over a period of five months, angry investors decided to march on the Stock Exchange to try and force the prices up! Millions of working class families are investing their savings on the stock exchange in the belief that it can only go upwards. This article gives a glimpse of the social and political effects of a collapse in the stock exchange.
Bulls, bears and bust In the last few weeks there has been a huge crash in the stock prices of the new information technology companies. Until then, the great new economy of computers, mobile phones, digital TV and, above all, the internet has been greeted by capitalist investors around the world as an unstoppable avenue to untold wealth. Every day we have been told in the newspapers of yet another 20-something internet entrepreneur, who becomes a multi-millionaire overnight, thanks to a launch on the stock market.
The end of Boo at the Last Minute Boo.com is the first biggish internet start-up to collapse losing its investors over £80m. Michael Roberts looks at the bursting internet stocks bubble and predicts that "profitless prosperity will turn into deflating depression.
