LIVE Tonight at 8pm Eastern... Here We Go Again!
Published: Sun, 08/07/11
|
The Market Toolbox : If you would like to change your e-mail settings please follow the instructions at the bottom of this e-mail. Instructions to "White List Us". Welcome To: The Market Toolbox LIVE! at 8pm Eastern
Hi Toolbox Fans,
Well here we go again... Last Friday night...as soon as the markets were closed the S&P downgraded USA long term debt to AA+ from AAA.
Many people are calling bullsh*t since it was S&P that rated all the crappy mortgage backed securities AAA and is at least partly to blame for the financial crisis in the first place.
While that is true it was not the sovereign debt division of S&P that rated the mortgage backed securities and quite frankly... given what we know about the financial trajectory of the USA... this should have been done long ago.
It is really about the governments inability to get serious about financial reform of spending and get a grip on the real problem.
Tel Aviv were open of the weekend and sold off 6% after opening and was closed to stop the bleeding. Can we expect more of the same when Asia opens tonight and when Wall Street opens in the morning? It is hard to tell right now, but there was even more bad news over the weekend as well.
Germany has basically said they cannot and will not support a bailout of Italy and the g-20 finance ministers are holding emergency conference calls and meetings over the weekend to build a plan on how to handle the mounting problems across the EU.
This could be one for the record books folks and we will cover it all tonight on the show. Do not miss this episode of the Market Toolbox LIVE!
We'll see you tonight at 8pm Eastern!
Until Next Time...
Best Wishes and Good Investing,
Doug Newberry The Investing Systems Network
The Market Toolbox LIVE! is a presentation of the Investing Systems Network. We help you work with the markets every trading day. We Welcome & Appreciate Members Like You! | ||||
