Did we not know this was going to happen? Are we shocked? Are we appalled? No, of course not. We got the rating we deserved and now we have to deal with reality. It is not our fault if many market participants are not prepared for the reality we have been discussing ALL YEAR LONG. This is the Global slap in the face we expected and our only real shock is how long it took to get here.
I talked all about the Downgrade in our weekend post ("S&P Downgrades US to AA+ – Tied With Belgium!") and I strongly advise reading this week’s Stock World Weekly ("Dungeons and Downgrades") to get a full perspective on how we got here and what position we’re taking into this mess (PSW Members can use their same passwords to access the SWW site). Go on, I’ll wait, give it a read…
Sorry if you missed it but our Market Day began yesterday (Sunday) at 6pm, when the futures opened and I sent out an Alert to Members saying I was PLEASED that we had a sharp 2.5% drop: " "
IN PROGRESS
