US credit downgrade!!!

[billy_56081]

I would say run not walk to get your money out of the markets! I am glad mine was out ahead of this.
 
http://finance.yahoo.com/news/China-flays-US-over-credit-rb-3974888722.html?x=0
 
http://finance.yahoo.com/blogs/daniel-gross/u-credit-rating-victim-gop-sabotage-021622372.html
 
http://www.foxnews.com/us/2011/08/06/some-comments-about-debt-rating-drop/
 
How stupid can stupid get, taking on more debt to pay off debt.
 
So ow much will the DOW drop monday?

[Shu]

Not sure how much it will drop or if it will. There are those here with alot more marjet savvy than me. Aren't stocks really based on consumer confidence in the markets? If that is the case it will rebound again shortly. With all the politiacal grandstanding there is sure to be a loss of confidence. Now would be a perfect time for a real leader to stand up and take control of the situation and restore the confidence. Anyone know a real leader in the white house?

[billy_56081]

I hope the silence on this is you folks getting your finances in order.

[crustylicious]

[embed=425,349]http://youtu.be/sc2GpmLx82k[/embed]
 

[powderman]

HEH. Another first for the libbys hero. POWDERMAN. 

[Lost Farmboy]

  Billy this is what the Obama ((idiots) (sorry I couldn't come up with a better word)) said would happen if we didn't raise the debt limit. You know those people that said the tea party were terrorist because they wanted to balance the budget without taxing us to death.


We need Ron Paul and a strong tea party to support him or the dollar is fertilizer.

[wreckhog]

I believe that ratings are a red herrings. My reasoning is that the people that matter (Goldman, Buffet, hedge funds, etc) already made up their minds about what the dollar was worth and what to do about it. They did not wake up to a surprise. They knew what was coming and they zigged appropriately as did their filthy rich clients. The ratings are for the sheeple.
I am told that there is a historically tremendous amount of money parked, waiting to be invested. A friend has access to $500,000,000+ that he cannot find a worthy investment vehicle for.
I suspect that this rating change will justify higher interest and get some of that money back in play.

[nomosendero]

I believe that ratings are a red herrings. My reasoning is that the people that matter (Goldman, Buffet, hedge funds, etc) already made up their minds about what the dollar was worth and what to do about it. They did not wake up to a surprise. They knew what was coming and they zigged appropriately as did their filthy rich clients. The ratings are for the sheeple.
I am told that there is a historically tremendous amount of money parked, waiting to be invested. A friend has access to $500,000,000+ that he cannot find a worthy investment vehicle for.
I suspect that this rating change will justify higher interest and get some of that money back in play.

Interesting, I would bet this rating would seem more serious, more than a Red Herring if Bush were still in office.     Thinking people know it's very serious no matter who is in office.

[billy_56081]

I don't know about a herring, but I bet we will so red tomorrow. It is going to be an interesting day on Wall street.

[wreckhog]

So ya think Goldman shorted on the way down and bought on the way up at margin for a quick 10-30% profit? Guess we find out next quarter.. ...

My guess is we yo yo this week, end lower than today and next week new money comes in like a hurricane. All so the traders can take their kids to Disney with another couple million in the kitty.

[The Hermit]

Jacob For President !!   
The government can't understand why unemployment is close to 20% while still exporting jobs and encouraging illegal aliens, go figure.
The S&P has failed to call the last several bubbles until after the fact, go figure.
Obama instilled enough confidence in the market, with his jibberish, that it dropped over 600 points after he blamed the tea party for the downgrade, go figure.
Bernake will continue to print money and keep interest rates at 0 to .25% till at least 2013. (you folks are just not borrowing enough money and spending it on Chinese made goods).
Most of Obama's staff at the White House have quit... hmmm. wonder why? Economic advisors indeed!!!
Jacob ??  Oh, Jacob is a neighbor Amish boy. He works only for cash, keeps it in a can, and tells me he will have enough money to pay cash for his land when he goes out on his own.
I trust Jacob.    Obama and Washington ?? Well that's another story.
 
The Hermit

[BUGEYE]

I'm sure that Jacob is more qualified than imam obama to run this country.