It is currently 9:27pm EST. I wish I could sound more optimistic than the title intimates. But it ain't looking good.
US Futures
Dow down 217 and change
S&P down 19 and change
CNBC
Spot gold w/ three markets open
1692 and change up 43 and change or 2.64percent
GOLD PRICE.ORG
Oil down 2 plus percent
CNBC
DOLLAR DOWN @ 74.16 off 0.36 or o.45%
OF course anything can happen over night. Hopefully stability and sanity.
For late nighters may we recommend
Zero Hedge, for update and more honest analysis that you will find on the Mass Media.Add to Technorati Favorites
2008 deja vu or what the hell is money anyway
It is interesting and some what ironic to note that contained in the body of S&P's text on the downgrade of the United States Credit status (full text here) were two conclusions that I beleive most Americans who paid any attention at all to the debt debacle arrived at:
A. Though spending was addressed in the final bill, "REVENUE" was not,(apparently S&P didn't hear or paid little attention to the mantra, "we have a spending problem not a revenue problem") and,
B. We are governed by a bunch of idiots! O.K. they didn't use the word idiots, but if you read the full text linked to above I think you may arrive at the same conclusion. And if you watched the debt ceiling debacle, you do not need to read the above for proof.
Unfortunately for those of us who live in the real world, you know, the one where we have to buy our own groceries and pump our own gas, it appears the rest of the world as been turned over to idiots as well. Which has resulted in the "perfect Storm". U.S. Debt on a collision course with European Debt while the Chinese look at their stacks of Euro's and dollar's and go, "whoops"!
Obviously this situation means absolutely nothing to the American wealthy as evidenced by the following: Luxury Spending on the Rise as Obama Calls out Fat-Cats. Which immediately caused us to wonder about the number of new contracts with Blackwater/XE and do they sell stock?
For the rest of us the next few days ought to be interesting to say the least. It would seem that even those who are comfortable with mathematical probabilities can't find consensus re: the opening of financial markets in the next few hours (Asian Markets).
Now the skin in the game for this writer is, and always will be, freedom. Primarily because we have lived in the streets before and do understand the number of individual choices is dictated by the number of dollars in a pocket. Which is why, for us it is often more important to know, not what any one particular politician is doing, but what is the buy price for said politician and therefor watching the markets can be more revealing than watching the politicians.
Sooooooooo, since we do have friends and readers who have retirement plans and such. Yet have absolutely no idea who is controlling them, relying instead on somebody saying "trust me, it will be o.k." (how did that work for ya in 2008?) we offer the following:
At this moment few are in agreement on anything! The Gold bugs are counterbalanced by the treasury bugs and on and on and................
Markets will be opening in Asia around 8:00pm this eve. Check em before you go to bed tonight and then get up early and check the European trading.
Pre-market trading, for Americans that don't have the privileged 24 hour access to the markets, starts at 8:00.
Have a plan in your head and be ready to holler at whoever controls your money (and if it isn't you????) with instructions. Win or lose at least you will not be caught totally off guard!
We might offer the following, the man runs the game, the house always wins and whether it be gold or dollars it takes "energy" to get it.Add to Technorati Favorites
A. Though spending was addressed in the final bill, "REVENUE" was not,(apparently S&P didn't hear or paid little attention to the mantra, "we have a spending problem not a revenue problem") and,
B. We are governed by a bunch of idiots! O.K. they didn't use the word idiots, but if you read the full text linked to above I think you may arrive at the same conclusion. And if you watched the debt ceiling debacle, you do not need to read the above for proof.
Unfortunately for those of us who live in the real world, you know, the one where we have to buy our own groceries and pump our own gas, it appears the rest of the world as been turned over to idiots as well. Which has resulted in the "perfect Storm". U.S. Debt on a collision course with European Debt while the Chinese look at their stacks of Euro's and dollar's and go, "whoops"!
Obviously this situation means absolutely nothing to the American wealthy as evidenced by the following: Luxury Spending on the Rise as Obama Calls out Fat-Cats. Which immediately caused us to wonder about the number of new contracts with Blackwater/XE and do they sell stock?
For the rest of us the next few days ought to be interesting to say the least. It would seem that even those who are comfortable with mathematical probabilities can't find consensus re: the opening of financial markets in the next few hours (Asian Markets).
Now the skin in the game for this writer is, and always will be, freedom. Primarily because we have lived in the streets before and do understand the number of individual choices is dictated by the number of dollars in a pocket. Which is why, for us it is often more important to know, not what any one particular politician is doing, but what is the buy price for said politician and therefor watching the markets can be more revealing than watching the politicians.
Sooooooooo, since we do have friends and readers who have retirement plans and such. Yet have absolutely no idea who is controlling them, relying instead on somebody saying "trust me, it will be o.k." (how did that work for ya in 2008?) we offer the following:
At this moment few are in agreement on anything! The Gold bugs are counterbalanced by the treasury bugs and on and on and................
Markets will be opening in Asia around 8:00pm this eve. Check em before you go to bed tonight and then get up early and check the European trading.
Pre-market trading, for Americans that don't have the privileged 24 hour access to the markets, starts at 8:00.
Have a plan in your head and be ready to holler at whoever controls your money (and if it isn't you????) with instructions. Win or lose at least you will not be caught totally off guard!
We might offer the following, the man runs the game, the house always wins and whether it be gold or dollars it takes "energy" to get it.Add to Technorati Favorites
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