The person you are responding too is just more evidence that American voters love big government and love big deficits. Carter was trying to do the responsible thing and got booted out in favor of a charlatan who promised everything and charged it all to the federal credit card. American voters will not accept pain, as the few honest TPers in the House discovered these past few months.
No these last two weeks was warmup. You aint seen nothing yet. Monday will be a the equivalent of Pearl Harbor on the stockmarket.
DONE, FINISHED! First time ever in the history of the US. How is that HOPE AND CHANGE WORKING OUT FOR YOU AMERICA! YOU VOTED FOR HIM, NOW YOU HAVE HIM FOR FOUR MORE YEARS.... Officle NANNY STATE
Oh yes, I just loooove big gummint and them deficits! Did you read my post?! I oppose the warfare and welfare states that got us here. But Carter was a disaster. Among other things, he started the Dept's of Energy and Education, setting a precedent for centralized bureaucrats to do nothing but draw salaries, waste taxes and come up with draconian regulations. And his policies had a lot to do with the stagflation, then high inflation, then high unemployment that followed.
So, did we sell the news this week or was this just a prelude to armageddon? Surely, the crash we saw this week must have been an anticipation of this downgrade, no? How much is already priced in? I honestly don`t know how "bad" this is...
This news will hit monday like a ton of bricks. Expect a trading halt monday. Probably a 1 hour halt.
So where do you put the proceeds from selling all your stocks? The same bonds that got downgraded? Short term bonds? Under the mattress???