I've spent a great deal of this afternoon reading about the possibilities for Monday. Here then is the Frankenstein Government consensus.
The dollar is going to make new lows. U.S. treasuries are going to start tanking and interest rates will rise. Other rating agencies are going to have to start downgrading U.S. debt. All public and private dollar denominated debt is going to get downgraded because they are all based on our inflated currency.
Thankfully, I think we can now haz our economic collapse. This will absolutely force politicians back to the table. I am calling it 50-50. That budget/debt ceiling compromise they struck is a joke and S&P is telling them so. You can bet your ass the administration is doing everything it can over the weekend to prepare for Monday. They deserve this ass kicking. Fucking crooks and liars.
I trust Peter Schiff to tell the truth. Here is 13 minutes of truth. Buy gold and silver. http://www.europac.net/media/video_blog
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First comes inflation, then higher taxes and more inflation, then far too late to do any good, an austerity bill will get passed. Three bullets to the head for the price of one.
Suicide of a country, the Washington DC kleptocrat way!
Thanks for commenting Lisa. I miss ya.
I can hardly wait to see what happend in financial markets tomorrow. Germany told Italy to go fuck themselves- they can't afford to bail them out. That plays out in 24 hours.
My gut is telling me all markets are going to drop precipitously..I am praying gold and silver do as well...I got 10k just burning a hole in my pocket.
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