Tyler 08:58 PM 08-08-2011
My father is a financial advisor in downtown Dallas. From what he is saying is that the media is hyping this up too much and that he had a conference call with JP Morgan this morning over how the market is actually up over the past two years. I am trying to find the credit ratings chart he showed me but essentially the media is only showing the first two ratings and by looking at the whole chart you can see that USA is still highly ranked compared to the majority of the rest of the world. AA still means very strong capacity to meet debts I believe whereas AAA means extremely strong. I need to get the charts and everything (if I am allowed to take pictures I will) but essentially the media is putting the scare on many Americans, particularly the elderly, and they are pulling out their money.
[Reply]
Devanmc 12:07 AM 08-09-2011
im just a college kid just starting to slightly understand the markets. but uhhhh what happened earlier today?
the entire world markets go down becuase of the US credit down grade but 10 year treasury bonds go up? this doesnt make any sense.
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MikeyC 06:21 AM 08-09-2011
Originally Posted by Devanmc:
im just a college kid just starting to slightly understand the markets. but uhhhh what happened earlier today?
the entire world markets go down becuase of the US credit down grade but 10 year treasury bonds go up? this doesnt make any sense.
Ironically, most of the people who were selling off their stocks (which caused the huge point drop) then turned around and put their money in treasuries.
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hammondc 06:28 AM 08-09-2011
Nikkei dropped below 9000 today (i think it closed just over 9k). It looks like another shitty day on the US market.
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wayner123 07:54 AM 08-09-2011
AD720 10:38 AM 08-10-2011