Standard and Poor’s Rating Service Downgrades US Backed Debt

Stocks have taken another hit today as we learned on Friday that the S&P Rating Service planned to downgrade the credit ratings of Fannie Mae, Freddie Mac, and any other debt that is backed by the US Government.

The US backed debt was downgraded from AAA to AA+.

This has caused the Stock Market to continue to fall. As I’m writing this the down is down almost 470 points and this puts us under the 11,000 mark. Let’s hope the holes are plugged before another Wall Street Crash.

No tags for this post.

Wall Street has Worst Day Since 2008 Crash – Dow Down 512 Points

Looks like there is fear of another . The fell 512 Points today, and this was the 9th steepest points decline in history. This major sell off took away all the gains we had earlier in the year. The Dow as lost more than 1300 points since July 21st.

This is the biggest Wall Street Crash since October of 2008. Rather than calming down concerns, the debt deal seemed to do the opposite. Look for further losses in the coming days as traders look at the overall and job market.

Tags: ,

Hindenburg Omen Creator Predicting Stock Market Crash in September 2010

The founder of the , , says his model is showing that there could be a Wall Street Crash in September 2010.  Ever since 1987 the indicator has been present during a .  Don’t freak out yet, because it doesn’t always ring true every time.

Here are the things that have to are required for the Omen:

1. 2.2 percent or higher of  companies on the New York Stock Exchange had Highs

2. 2.2 percent or higher of  companies on the New York Stock Exchange had Lows

3. The Moving Average of the New York Stock Exchange must be rising

4. A negative McClellan Oscillator at the same time

5. The new yearly highs can’t be twice the amount of new yearly lows.

We will see what happens next.  I probably should have wrote this post yesterday on Friday the 13th.

Tags: , ,

Good health usually prevails in bad economy

If the recession has you worried about paying for visits to the doctor, here's a small silver lining: A new study strengthens the link between a bad economy and good health. The Great Depression that began with the stock market crash of 1929 was the economic low point of the 20th century. The economy shrank at annual rates reaching 14 percent, and unemployment peaked at 22.9 percent. The recovery didn't begin until the middle of 1933. And yet, public health was never better, according to a variety of measures laid out in a report by researchers from the University of Michigan.  Rest of article If the overall health of the general population improves, then premiums for health insurance should drop if insurance companies take this into account.  It is our opinion, personal injury attorneys help make the insurance companies more transparent by the light the shine on their actions which enables this to happen. Tags: , , , , , , , , , ,

Superefficient markets exist in theory, not life, author suggests (Las Vegas Business Press)

Review of the myth of the rational market by Justin Fox So calming, that efficient market theory. Even with business ruled by unpredictable people, efficient-market true believers hold that markets are always right. Stock prices constantly adjust to account for all available information, the logic goes; businesspeople make thoughtful, rational decisions. So are you ready for another Wall St Crash?  I know I am. Tags: , , , , , , ,

Is a Crash Impending?

"President Hoover's Response to the Stock Market Crash of October 29, 1929" via The Presidential Timeline of the Twentieth Century . [Dear Readers, You may have noticed that often I post here, in its entirety, an article that I've read elsewhere. This I do for several reasons. One, I use this blog as a repository for information I want to keep handy for myself and two, because what I'm posting is, in my opinion, too important to simply provide a link for you with the suggestion to, Tags: , , , , , , ,

Downturn overshadows key air show – BBC News

Telegraph.co.uk Downturn overshadows key air show BBC News Aerospace and defense companies are gathering at the Paris air show this week in the midst of an economic crisis that is crippling the industry. Backed by Boeing, Airbus urges patience on crash Reuters Airbus Warns Output Could Drop as Much as 25% in 2010 and 2011 New York Times Wall Street Journal - guardian.co.uk - Sawf News - Seattle Times all 1,455 news articles The rest is here: Downturn overshadows key air show BBC News Tags: , , , , , , , , , , , , , , , , , , ,

Has Obama failed already?

Three months into his presidency, Barack Obama has proven to be every bit as charismatic and intelligent as his most ardent supporters could have hoped. At home or abroad, he invariably appears to be the only adult in the room, the first American president in at least forty years to convey any gravitas. Even the most liberal of voters are finding it hard to believe they managed to elect this man to be their president. It is impossible not to wish desperately for his success as he tries to grapple

Tags: , , , ,

The Socialist Bailout of Wall Street

The massive federal bailout of U.S. financial firms reflects everything that’s wrong with the economic system of welfare and interventionism under which the United States has operated since at least the 1930s. There are critically important lessons in the bailout that the American people ignore at their peril. While most politicians and mainstream pundits are viewing the bailout as a necessary “reform,” it is imperative that we place this “reform” in a much wider and deeper context. In doing so, we need to return to first principles.  Full Story You should read the rest of the article it's pretty good.  I challenges you to think how how much economic liberty we would have if we had: No Welfare, No Immigration controls, No public systems, no Federal Reserve, No welfare, No Social Security.  Oh yeah, and No income tax, cap gains, or estate tax.  Wow...heaven...:) Tags: , , , , , , , , , , ,

We Are Live at “The Week” with the Eclipse of the Chicago School

The Chicago School is eclipsed - THE WEEK : Richard Posner, leader of the Chicago School of Economics and Fourth Circuit Court of Appeals judge, uses his new book, “A Failure of Capitalism,” to try to rescue the Chicago School’s foundational assumption that the economy behaves as if all economic agents and actors are rational, far-sighted calculators. In some sense, Posner must try. For without this underlying assumption, the clock strikes midnight, the stately brougham of Chicago economic Tags: , ,