Posted on 08/08/2011 10:15:40 AM PDT by NoLibZone
Stocks tumbled sharply in heavy volume Monday after Moody's said they are maintaining the U.S.'s AAA status, but the rating depends on how the budget deficit is handled in the future.
This comes after rival S&P downgraded Fannie Mae, Freddie Mac and Federal Home Loan Bank in addition to cutting U.S.'s credit rating from triple-A for the first time in history last week.
The S&P 500 and the tech-heavy Nasdaq were down over 3 percent. August is already on track to be the worst month for the S&P and Nasdaq since Feb. 2009 and Nov. 2008, respectively.
(Excerpt) Read more at cnbc.com ...
All of these BEFORE his ‘major speech’ yet again 1 pm EST?
How much further does he want US to fall?
He’s not done by half. He said.
But it’s all good, he’s got 2 fundraisers tonight. Camera’s not allowed.
“How much further does he want US to fall?....”
:::::::::::::
His agenda has never been anything but destroying our Constitutional Republic, its freedoms, its capitalism and its military strength.
None of this is a surprise — never has been.
If the Dow falls anything less than 1000 today it will be a miracle. I bailed out of the market with Soros..you could see this train wreck coming, because the Rats wanted it. They knew they could blame the GOP and the MSM would trumpet it. We’ll lie and you swear to it.
Bernanke may try pouring a trillion dollars into the market for QEx or he might leave well alone and let the S&P rediscover reality.
Either result is bullish for precious metals as people either seek real safety - or they spot the next spike in the money supply.
Gold will move first is moving first, Silver afterwards.
Buy GOLD(silver) -OR- watch the ink on those dollars bills FADE...
You can barely read them now.. after “awhile” a five dollar bill or a twenty will not make much of a difference..
Then you had better be well armed.. gold will be money.. currency will just be paper..
The truth is it always WAS... just paper.. The rubes don’t know that YET!!..
I have found this website to be a very useful source of information on the economy, gold, and silver.
http://goldismoney.info/forums/
Nor will there be cameras when he dresses in his muslim garb and hosts the ramadan dinner.
Had a friend who had a one German mark bill. The one had a five stamped over it in red ink. That’s how fast it tanked.
BLOAT, BLOFT, and BLOGT.
Ammo, food, and gold.
Focus on the first two.
Well, if he had spoken would anyone take what the communist community organizer had to say with a grain of salt?
So much for shorting gold,...lol
[ Had a friend who had a one German mark bill. The one had a five stamped over it in red ink. That’s how fast it tanked. ]
I am imagining the look on the guys face that was offered a one mark bill with a five stamped on it in red ink... LOL...
The Germans are not joyous people.. given to humor easily.... (if you get my drift)..
Still a long way to fall. Now we’ve wound back to October 15th of last year.
Next stop is at 10k, which is where we were back in August of last year. still lots of room for Obama to fall.
If it drops another 30, we’ll have wound all the way back to the level of May of 1999. That’s 12 and a quarter years of market gains wiped out. Worse then in the first part of the recession.
Even though it dropped all the way to 6.6k, that was only the same level as January of 1997. So another 12 years through to February of 2009.
The worst, peak to peak is still from 1965 to 1982, for Obama to match that the market would have to drop to 3.8k.
As our friends over at ZeroHedge say, Gold bitchez!
Nope. Now it's AArmageddon.
Thanks to President Downgrade.
.
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