Portugal Lowered as Debt Woes Spread in Europe
Greece Cut to Junk at S&P, Portugal Lowered as Debt Woes Spread in Europe
Greece Cut to Junk at S&P, Portugal Lowered as Debt Woes Spread in Europe today.This is what my futures chart looked like as the news spread quickly around the world.
The S&P 500 retreated nearly 30 points. Greece’s credit rating was cut three steps to junk by Standard and Poor’s, the first time a euro member has lost its investment grade since the currency’s 1999 debut. The euro weakened and stock markets throughout the region plunged.
Greece was lowered to BB+ from BBB+ by S&P, which also warned that bondholders could recover as little as 30 percent of their initial investment if the country restructures its debt.
The Euro also took a hit and fell 1.3 percent to $1.3215. This not really a problem with Greece, Portugal or even Spain for that matter. It really is a problem with the entire Europe system. You cannot just single out one or two of these.
Even though Greece Cut to Junk at S&P, Portugal Lowered as Debt Woes Spread in Europe we have a lot to get through. The vigilance and lies from the government and media about a full economic recovery being here is starting to smell just like the goldman sachs story…. “NO WE DID NOT RIP OFF OUR CLIENTS” “I CAN SAFELY SAY THAT WE ARE OUT OF RECESSION”Are you starting to see a pattern here yet people?
Don’t be alarmed but you ain’t seen nothing yet. Isn’t it sad what has been happening. If I were you I would start to rely more on your friends, family and neighbours. Rally together, work together and you will start to help along the big changes we see coming down the track.
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Tags: economic collapse, europe debt, Portugal Lowered as Debt Woes Spread in Europe
