WHATS S&P going to do NOW ??
I don't think I WAS DREAMING when I was watching the new
and it was announced that S&P was planning to meet at 8:30am
this morning - SO FAR, I have not been able to corroborate that online and have NOT heard it again on any news program.
BUT if they do meet, it is possible the BACKLASH has been too severe, and they just might RESCIND the DOWNGRADE
OF COURSE the markets will respond in LIKE kind and rebound with vigor.
EVEN IF THAT DOES HAPPEN, it DOES not change the SEVERE DECREE - BEAR Market phase began At spx 1370
on May 2nd and could last quite a while
IF they do rescind we should consider the announcement a SHOT across the BOW and that GOVT had better get it together to make the things happen to get this country back on track.
IT might take the election of 2012 to accomplish the infrastructure that's needed to do that, but we wont know that until then.
MORE LATER- after 8:45
IT"S OBVIOUS they dont care and added downgrades to other
features of the system