Good Morning Asia! Sorry Your Markets Tanked

Asian Stock Markets Sink after US Credit Downgrade

What a lovely bit of news I ran into while surfing and watching the Real Housewives of New Jersey. 

“It’s not Armaggedon, but it feels like it,” said Hong Kong-based analyst Francis Lun, adding that he foresees the territory’s Hang Seng index to sink below 19,000 — a decline of a further 5 percent — before making any kind of comeback.

Um, sorry about that.  Our country was more interested in political theater. If we didn’t make such a big deal about the debt ceiling, global markets wouldn’t be reacting like this. Thanks Tea Party for holding it hostage to push your agenda. Thanks President Obama for not invoking the 14th amendment the minute they pulled this crap.

I’m going back to the Real Housewives. Entertain me, Joysey girls. Bread and circuses to keep my mind off of the empire burning, baby.  Bread and circuses.


11 responses to “Good Morning Asia! Sorry Your Markets Tanked

  • nonnie9999

    the real housewives might run the country better than the jokers in d.c.

  • Terrance H.

    I think S & P is going to profit from this downgrade. Correct me if I’m wrong, but they have their hands in a lot of pots. It would seem that they are going to profit from the increase in interest rates…

  • John Myste

    Wall Street types may not be crying. Some of the massive sell-off was probably short sales, where astute Wall Street observes are going to clean up.

    It is like me, I thought about short-selling yesterday. I didn’t do it. Instead I kept my ex-401k in stocks.

    This scotch, though blended, is really numbing and it really hits the spot.

    • Spinny Liberal

      That’s true. There were a lot of bargain hunters this morning. I just leave my crap where it is. If I even attempted to time the market, I’d be staring down at an empty glass of blended scotch. 😉

      • Terrance H.

        S & P wouldn’t downgrade our credit if they thought it would hurt them for any extended period of time. Let’s remember, boys and girls, they are blood-sucking vampires, after all…

        They’re going to profit from this in some way. I’m certain of it.

      • Spinny Liberal

        You may be right, but the damage is done. Hopefully, Moody’s won’t follow.

      • Terrance H.

        Spinny,

        Moody’s and another company came out AGAINST S&P and basically said their rating was absurd. They disagreed with it entirely. But like Lobotero said over on my blog, people have dumped their stocks and poured them into the U.S. Treasury, so nobody really gives a damn what S&P has to say. People still trust the U.S. to pay its bills, and you might as well. We’re the most powerful country by a mile and our economy is poised to grow just as soon as we start taking green technology a little bit more serious.

        S&P is a joke and this will forever tarnish their reputation, if it wasn’t in shambles to begin with.

      • Spinny Liberal

        I get that investors put their money here. The fact still remains that S&P acted based on the dangerous game of chicken that lasted a month. None of this would have happened.

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