Monday, August 8, 2011

And Now Back To Our Previously Scheduled Program.... Part 2

What can I say except that the wheels are coming off.  Gold broke through the $1700.00 mark on the Asian markets this morning.  Both the DAX and STOXX markets in Germany openrd down nearly 20%.  Rumors are swirling that the SocGen bank in France and UniCredit in Italy are on the verge of collapse.  As much as some have decried the S&P down grade of US Treasuries it's psycological impact will be small compared to what will happen when the down grade allmost all Municiple Bonds this morning.  Gee I wonder why it was announced that "Rule 48" will be imposed this morning before the market even opened.

Good Luck!  When tipping points are reached its like Wylie Coyote has finally looked down and realized he has indeed steped off the edge of the cliff.

No comments:

Post a Comment

Comments are of course welcome. Please stay on topic. Comments with links to commercial sites unrelated to the post or the general theme of this blog will be deleted as spam.