But lets be realistic, after the first stimulus was announced, how many people with any business sense actually believed treasuries were worth a damn? So this downgrade really is only going to scare Joe Public into panic selling stocks.... and prolly buying the treasuries that were just downgraded lol
At this point, the gold up trend is still well in tact. Look at a 20 year chart of the S&P priced in gold. Stocks have been horrible since 2000. Until that changes, why not be in gold?
I'm offering a little funeral service for broken portfolios, nice little ceremony and all. http://www.youtube.com/watch?v=pUWZ_OAEgQE&ob=av2n
This is a bit out of my personal trading realm. Is there a concrete tangible ramification to this downgrade? It's clearly embarrassing as hell, but does it have practical impact on anyone?
I agree, History repeats, and if history is right again , this fiat currency shouldn't last much more than 40 years. ( came of gold standard in 71) . Although I hate the dollar I am heavy in cash right now because I believe people fly to cash during panics. Thing is gold sometimes dumps during panics too . I'm patiently waiting to see how this plays out. Already have taken a lot of gains from PM's off the table from early 09. I'm sidelined basically in regards to my long term funds ready to take advantage of short term volatility.
It means you are going to have to pay a higher interest rate on the two and half trillion Obama is going to use to win the next election. Correct me if I am wrong.
Yes, I'm about 25ish pages in. Im trying not to get swayed by your words ^^. I've looked so much at the US and know so little Europe (aside from UK total debt to GDP at 500 % which should make it shittier than US?). I agree with whats written so far, but so far it doesn't sound too different from mainstream criticism against the EZ.
Well japan debt is AA ....People seem ok with Japan... so who knows. The market will speak soon enough.