You have commented 339 times on Rantburg.

Your Name
Your e-mail (optional)
Website (optional)
My Original Nic        Pic-a-Nic        Sorry. Comments have been closed on this article.
Bold Italic Underline Strike Bullet Blockquote Small Big Link Squish Foto Photo
Submit your comments on this article
Economy
Global stocks tumble on US debt fears
2011-08-09
[Emirates 24/7] Global stocks took another pounding Monday as worries over the downgrade of US debt outweighed relief at the European Central Bank's purchase of Italian and Spanish bonds to help the two countries avoid devastating defaults.

The world's leading financial policymakers said they were ready to act to contain the uncertainties in the markets but were unable to ease the concerns of stock market investors. The main worry remained centered on Standard & Poor's momentous decision to lower its triple A rating for the US.
Posted by:Fred

#14  I see whut u did thar...
Posted by: Pappy   2011-08-09 22:35  

#13  Ima feel better now than Shaker Steve has showed up. We haven't had a decent argument in ages, I suspect he is a dying breed of fine woodworkers, unable to breed because of his beliefs. Sad, but in many ways admirable.

You Rock Thar ShakeySteve!
Posted by: S   2011-08-09 21:00  

#12  "Dispatch, we got a dumb one here"
Posted by: Frank G   2011-08-09 18:55  

#11  Means it's still down 750+ since Monday.
Posted by: Pappy   2011-08-09 18:36  

#10  Gentlemen, the market recovered about 1/2 it's drop yesterday, all is well.
Posted by: Redneck Jim   2011-08-09 17:33  

#9  Uh Steve, Sarah isn't running. Your post is something that should appear on Daily Kos. Not too bright.
Posted by: remoteman   2011-08-09 14:00  

#8  Oddly enough, Mr. Steve, there are Canadians who are not unthinkingly rude to Americans, despite what you have been taught in school about the diffence between the two countries. Why must you, then, hew so closely to our stereotype of ignorant, countrified neighbors to the north, upsetting all the good will those others have garnered here? Especially when you demonstrably are capable of making sensible comments on other topics...
Posted by: trailing wife   2011-08-09 13:01  

#7  Yes, and replaced by Sarah Palin. Markets will be splitting their guts laughing at the 'genius' of the American electorate, that there will be a halt in trading for a few hours, thus stopping the stock tumble brought about by 30 years of 'VooDoo economics'.
Posted by: Shakey Steve   2011-08-09 12:46  

#6  You want a recovery?
Ten seconds after Obama is defeated at the Polls, that'll do it.
The market will jump like a stuck horse.
Posted by: Redneck Jim   2011-08-09 12:35  

#5  No one is in good shape and everyone of any substance is tied to the US economy. If we go, they all go and there is no real safe haven.

Retirees are taking a hit again in their retirement portfolios. Obama is not a friend of the seniors. I'm not sure who he is a friend of at this point--fellow ideologues and elites who have swallowed the Kool-Aide of statism and Chicago criminality?
Posted by: JohnQC   2011-08-09 11:29  

#4  The issue is: who's buying them? I had thought the Fed was as pretty much the only customer.

A lot of money moved out of equities in the last few days. It has to be parked somewhere. What's the least risky investment around, regardless of S&P's opinion?
Posted by: Nimble Spemble   2011-08-09 09:05  

#3  It's also the story of being chase by a bear. You don't have to be faster than the bear, just faster than someone else in the group. No one is in good shape and everyone of any substance is tied to the US economy. If we go, they all go and there is no real safe haven.

Han Solo: You said you wanted to be around when I made a mistake, well, this could be it, sweetheart.
Princess Leia: I take it back.
Posted by: Procopius2k   2011-08-09 08:48  

#2  The issue is: who's buying them? I had thought the Fed was as pretty much the only customer.
Posted by: Steve White   2011-08-09 07:58  

#1  The downgrade as a cause is little more than a media meme.

In reality there has been massive buying of US bonds with a consequent large drop in interest rates paid.

Exactly the opposite of what a downgrade would cause.


From Rooters,

U.S. Treasury prices soared on Monday after the first credit downgrade of U.S. debt caused investors to flee risky assets in favor of bonds on concern over the ripple effects of the ratings cut.
Posted by: phil_b   2011-08-09 02:16  

00:00