Well, did you heed post #621 re turning on the Euro presses in order to have money to loan to Spain, or are you now in Spanic (Spain Panic) mode after today's Moody DOWNGRADE because you bought high again? I hope you understood #621 that for a nation to hand out money as a loan they first need money, hence, will print more. This in turn devalues their currency more because their is now more money (Euros in this case) floating around. In this case Spain gets to tack it on to its debt as well as Europe adding to its debt. Even more debt when you can't pay the existing debt means only one thing: higher risk (the yield on bonds were higher). Thus Spain's ability to pay back the debt has become harder AND longer. So, they next generation or two gets to pay this last debt back.
Why am I stressing all this? Because America already has high debt and has already been lowered by rating agencies. Ant further debt, from spending or bailouts will put us in the same position Spain is seeing (or Greece, Portugal, Ireland, soon Italy, etc.), i.e., expect a rating downgrade. THIS is what will crush the markets and our lives for yet a LONGER period of time and leaving bills for our future generations. Get it now? Kiss your nest egg goodbye if we don't get a RESPONSIBLE president and administration AND Congress in place this November.
Sorry, prayers won't help. Only action will! Stop being a Sheeple and understand the issues before you and their consequences. Or, be a Sheeple and continue arguing that the rich (those understanding the issues) are creating a larger gap (they already know how to win in either case). So, will you be a Welfare Crier and ignore the problems already here today, or someone who strives to exit the Welfare herd and support plans to get us out of this hole OBlunder keeps digging? Its time the media starts reporting truths and misleading the people. The media is NOT your Shepard! Nor is OBlunder!
As I type, the Asian markets have already dropped absorbing the latest bad news in Europe.
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