Image via WikipediaBy Randy Economy
www.Economy4ABC.Blogspot.com
Monday, August 8, 2011 1:04 p.m. PST
New York, NY
The Dow Jones dropped a whopping 634 points on Monday and this is just the beginning for what could be a horrific week for the United States economy. Now what? Any suggestions? Stay tuned.
Image via Wikipedia
DOW JONES ENDING FOR AUGUST 8, 2011
10,809.85
-634.76 (-5.55%)
Aug 8 - Close INDEXDJX real-time data -
Range 10,809.85 - 11,434.09
52 week 9,936.62 - 12,876.00
Open 11,433.93 Vol.
1 comment:
S&P has downgraded US debt, this has created panic in the markets, but the question is should we take S&P seriously when these credit rating agencies have proved that their understanding about economies is indeed poor.
Remember, it is the same S&P that gave AAA rating to mortgage backed securities in 2005-2007 and we all know what happened after that, so I guess its time to be bullish when S&P, Goldman and the likes become bearish on the world.
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