USA credit downgrade.

So that's why futures gapped down tonight...

https://www.marketwatch.com/story/f...sion-of-governance-f714020f?mod=mw_latestnews

 

LOL those guys at Fitch are being too modest. "Erosion of governance" is just the frosting. The real cream of the crop is the DEBT itself. The US will never be able to pay off those debts, and eventually it will go under like all previous empires before it for the same reason: too much debt.

 

Well, someone needs to get piezoe over there to explain to them how government debt REALLY works, since apparently it does not exist.

 

Wow, down 0.25%. Absolute carnage! How will longs sleep?

 

Is this it? Are we doomed?

 

Only if S&P does it too. When they did it in 2011, the market puked kinda' hard. But even if they did it now I doubt there would be as much of an impact, since there is so much more liquidity in the market now compared to then, to absorb any shocks.

 

Besides credit/debit rating, Fitch also provides trading opportunities too.

Thank you FITCH.

 

When are pension funds no longer allowed to invest into treasuries? There was a certain mark

 

Last time the market was down more than 5%, now we are thick skin and feel invincible, the money printing is really disgusting.

 

NFP on Friday, as always, likely have a greater impact than this.