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.
what will happen in 2012 ???… well I must say that it is a question on every bodies lips.
It is not just a matter of asking what will happen in 2012 and guessing…..it is a matter of finding out what has been going on even hundreds of years ago, and using this information to give us a glimpse of what is possible or work out what will happen in 2012.
So just what do you think what will happen in 2012?
Click the “play button” below to find out some of our projections.
Alot of our members are quite awake to what is going on out there in the REAL WORLD. You remember when you left school and they kept reminding you how tough it is in this big bad REAL WORLD. Tough it might be but there are many idiots in their monkey suits making it a lot tougher for you.
But then again there is no one way to survive out there. And I have a few friends that started with nothing and made a good fortune. WHY? because their thinking is different to everyone else out there. There is still alot of talk about the events happening in EUROPE. We did cover things in our newsletter but many people still dont see this as a big problem.
Below is our latest installment with what is going on with the economy, including the EURO and US dollar.
We have had a lot of people emailing today asking what has been happening with the market. The dow peeled off 4% today and its action is very interesting. Have a look at the latest S&P Chart below.
You can clearly see that January was not a good start to this year and we have clearly broken some significant levels. Alot of the Greece and Spain default news is hitting the markets and people around the world. And it is doing a lot of damage. I remember talking about this in my newsletter some months ago.
Seems that the bulls have the noose around their neck. But there are no surprises here. Why have we been going up that much!!? was there any self reliant evidence that things were improving. NO! so why are people so panicy as we sold off HARD today.
It was bound to happen. Alot of people don’t believe me when cuss the government and their games. They want you to think things are improving but you will see over the next few years the BIG BIG BIG changes coming. I cant say it enough. Don’t panic, I am not giving you a Will Smith I AM LEGEND scenario, but I will let you know there are big changes coming.
For now we just watch and wait with this market action. I have much to say and have decided that so many of my followers are well behaved I am going to give you all a FREE trends alert that only our PAID members receive.
I will be back in the office tomorrow and release this on the blogosphere here. Make sure you have a look, as we feel it is a very important update. One of the most important in 2010.
If you wish to become a full member and receive all our market updates you can
Well it seems that sanity has come back to the market. Yes as your read this we have had the biggest 3 day drop on the market in nearly a year. I could fill up this page with reasons why….but If you have been tagging along and listening to our messages then you will fully understand. When I woke up and heard the market reports on the news, the first WORD that came to my mind was SANITY…..
AS the market kept climbing to new highs, the INSANE, no scratch that out…HIGHLY INSANE people kept just buying on all the government funding and money they kept pumping in the market. In all seriousness this was a fake rally, and lasted too long. Many people who kept buying kept getting use to making lots of money….so what did they do …KEPT buying. as I said CLINICALLY INSANE….with a double scoop of IGNORANT on top!
Now people are seeing the market dip hard here and are making all the excuses in the world. Obama has finally stepped up to the plate and started to get his cane out and whipping the naughty school boys on wall st for getting back to their dirty practices. Ummmm bit late for that now. But I say to Obama better late than NEVER.
I dont think he has come a long way since his election speech…what was it again!? YES WE CANNNED HAMMM! or something like that.
Anyway no matter what happens here on the market, up or down (down seems more likely the case) it has been FUN for myself and traders in the office, the video below I show you why???
It is official, today Reuters A record one in seven U.S. mortgages were in foreclosure or at least one payment past due in the third quarter, according to fresh data signaling the recovery in the housing market will be tepid at best.
I guess those that dont like hearing the truth better get their mouse and click off this page as fast as your can! YES…
But come on….what did you expect, with more people losing their jobs, that means less money going into their dwindling accounts. And that means there is no extra money to pay off the mortgage bills at the end of the month. Its not rocket science….really.
For the keen statisticians out there Housing and related business account for about 20 percent of the economy and recovery, so its not small potatoes i guess.
The smarties down a barclays who called the hmmm recovery in early 2008 (ummm right!) have now changed their tune…. yes! They pulled out their hankies and got the fake tear juice out and admitted and I quote “Foreclosures will be worse in the first part of 2010 and we do not see a peak in foreclosures until the middle of next year.”
Looks like the bankers and the BIG bonus pay checks are going to have a field day with this….. WOW how convenient…the same time they get their millions in dodgy bonuses the same times foreclosures are nearly their high point and those beach side resort condos will be going for a song. I bet you their mistresses will be loving this piece of news. LOL
