If you aren't going to buy dow down 1000 when are you going to buy?
post #41 of 54
5/7/10 at 3:33am
When it shows signs of life. My opinion is the whole Greece thing is just beginning, and there will be more to follow. Portugal, Ireland, and a few others are in an equally precarious position as Greece. Plus, if Moody's ever decides to lower the U.S.'s credit rating the market could get even uglier.
The stock market is not controlled by Vulcan's, it's all emotion and symbolism.
However, I think we both can agree the US's level of debt is unsustainable. A Moody's credit reduction could trigger another sell off like today, but my opinion is it would have less of a rebound.
I do agree that our level of debt, and specifically the rate of growth, is unsustainable.
However, concerning Moody's specifically...
S&P and Moody’s continue ratings scam
Bad Credit: How S&P, Moody's and Fitch Helped Cause the Housing Bubble
Moody's Slapped With Subpoena: Credit Rating Agency Not Cooperating With Crisis Investigators
Moody’s Accused of Refusing To Explain Its Role in Financial Crisis
The Rating Game Scam
Bloomberg is reporting S&P, Moody's Mask $200 Billion of Subprime Bond Risk