XJO 0.88% 7,959.3 s&p/asx 200

s & p downgrades us debt , page-53

  1. 1,714 Posts.
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    i have been reading threads and looking at graphs & still of the belief the Thursday 511 point drop was manufactured or at least played deliberately to the downside

    I checked out the DJIA volumes on yahoo for last month then back in years. For Monday 25 July they were NINE times higher than usual. This was a week before debt ceiling deadline was up and the day Mohamed El-Erian, chief executive of Pimco, has said America's valued AAA credit rating is 'extremely vulnerable'

    The volume for that day far exceeded anything in the last 10 years - I think the major players have not returned since then and used the weak days last week to force things downwards - this downgrade will only scare retail money so I don't forsee a long downturn...(i hope)

    Also consider-

    "the ratings agencies are always behind the curve.They don't downgrade any company or country until everybody already knows the company or country is in big, big trouble. For one of the most egregious examples was back in 2001, the ratings agencies waited until six days before Enron declared bankruptcy to downgrade the company below investment grade." - Daily Wealth


 
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