Markets not happy

[Beet]

UK gilts are a good investment too. JGBs are a solid bet. Pretty much any government debt security not tied to the notorious euro and the hard money anti-Keynesians in charge in Brussels, excepting maybe for German bunds. Gold is good for now but if we really go into a depression then gold is not good.

[Beet]

After reading several news reports, it seems that the 500 point drop in the Dow yesterday was the result of a speech by Italian PM Silvio Berlusconi the day before. Berlusconi, in contrast to all the other leaders of the crisis hit countries so far, refused to enact any austerity measures or reforms. As a result, the ECB finds it harder justify buying Italian bonds to the Bundesbank.

[Beet]

After reading several news reports, it seems that the 500 point drop in the Dow yesterday was the result of a speech by Italian PM Silvio Berlusconi the day before. Berlusconi, in contrast to all the other leaders of the crisis hit countries so far, refused to enact any austerity measures or reforms. As a result, the ECB finds it harder justify buying Italian bonds to the Bundesbank.

Good for Burlesconi!  He may have several downsides, but at least he isn't cowed by the poison-the-patient nonsense.

That's true, but you have to remember the Brusselcrats are operating under flawed economic thinking that says you can't help any patient until they have been sufficiently bled.

[Beet]

Was it about no austerity measures?

But Brussels (and hence 'the markets' were looking for more). How many rounds have everyone else gone through? opebo makes a point, though. The old buffoon is forcing issue because he knows his country faces a liquidity crisis and political crisis, not inherent near term insolvency. As for the raids on S&P and Moody's... well what would you do if foreign multinationals were threatening to sink your economic sovereignty? Greece and Spain should have done that months ago. Just a pity that it takes a right-winger not to have the spine of a jellyfish.

[Beet]

Holy sh**t the Seoul composite is falling off a cliff.

[Beet]

The Seoul composite just rallied 2% in 15 minutes, now it's only down 5.5%. This is the kind of day, day traders live for.
YEEEEEEEEEEEEEEEEEEEEHHHHAAWWW!!!!!

[Beet]

I think this video aptly sums up the condition.

As does this video.

Viva la revolucion!

[Beet]

Hang on to your jewelry ladies!

Obama in 6....

[Beet]

Obama refused to attack the ratings agencies. Got his nose stuck in the clouds again. The American people are hurting! And the following people are laughing at the minstrel show:

Mr. Harold McGraw III, 62
Chairman, Chief Exec. Officer, Pres and Chairman of Exec. Committee   N/A   N/A
Mr. Jack F. Callahan Jr., 52
Chief Financial Officer and Exec. VP   N/A   N/A
Mr. Kenneth M. Vittor , 61
Exec. VP and Gen. Counsel   N/A   N/A
Mr. Charles L. Teschner Jr., 50
Exec. VP of Global Strategy   N/A   N/A
Mr. Robert J. Bahash , 65
Pres of McGraw Hill Education, Inc.   N/A   N/A

Obama needs a good f--king kick in the teeth and a beating until he learns how to fight.

[Beet]

Obama refused to attack the ratings agencies. Got his nose stuck in the clouds again. The American people are hurting! And the following people are laughing at the minstrel show:

Mr. Harold McGraw III, 62
Chairman, Chief Exec. Officer, Pres and Chairman of Exec. Committee   N/A   N/A
Mr. Jack F. Callahan Jr., 52
Chief Financial Officer and Exec. VP   N/A   N/A
Mr. Kenneth M. Vittor , 61
Exec. VP and Gen. Counsel   N/A   N/A
Mr. Charles L. Teschner Jr., 50
Exec. VP of Global Strategy   N/A   N/A
Mr. Robert J. Bahash , 65
Pres of McGraw Hill Education, Inc.   N/A   N/A

Obama needs a good f--king kick in the teeth and a beating until he learns how to fight.

I have no idea who are those people you listed, but Obama should certainly send the secret agents around to assassinate those on the S&P board who voted for the downgrade.  Of course while he's at it they should probably do the same with those who caused the grounds for the downgrade in the first place.

It's certainly not easy to find a more deserving bunch. These whiny little titty babies will roll over and bawl at the first sign of spine:

"S&P, which along with other rating agencies has been strongly criticised in Europe for downgrading countries such as Greece, said in a statement it believed the Trani inquiry "has no foundation". It added: "We shall strenuously defend our work, our reputation and that of our analysts."

Moody's said it took "its responsibilities surrounding the dissemination of market-sensitive information very seriously", and was co-operating with the authorities."

"http://www.guardian.co.uk/world/2011/aug/04/police-raid-milan-moodys-standard-poors

That's right, make them defend it.

[Beet]

Dow exploded 430 at the very end of the day.

The Fed announcement was actually a dud. All they said was they'd hold interest rates where they are now.