28/11/2011

Oops. First Fitch, now Revenge of the S&P

By John Galt November 28, 2011 – 17:20 ET From La Tribune de Francais: D’ici dix jours, le triple A français risque de se retrouver “sous perspective négative” In English: In ten days, the triple A French risk of being “negative outlook” Oops. Basically speaking, the ratings war is on between the least worst of the credit risks, aka, the U.S. and France which means the U.S. and France are unofficially in a pissing match to junkdom. From the article (translated via Google/my interpretation): Threats from other agencies Another source concurrent…


Revenge of the French: FITCH cuts America’s rating to a Negtive Outlook

By John Galt November 28, 2011 – 16:30 ET BOHICA. Just dang. Sucks to be Obama now. And the Bernank. From Fitch (click here to read the full release): Fitch Affirms United States at ‘AAA’; Outlook Revised to Negative   28 Nov 2011 4:15 PM (EST) Fitch Ratings-London/New York-28 November 2011: Fitch Ratings has today affirmed the United States (U.S.) Long-term foreign and local currency Issuer Default Ratings (IDRs) and Fitch-rated U.S. Treasury security ratings at ‘AAA’. Fitch has also simultaneously affirmed the U.S. Country Ceiling at ‘AAA’ and the Short-term…


11.28 from Ambrose Evans-Pritchard: Your Oh Chit Moment

By John Galt November 28, 2011 – 16:20 ET Do you really need a “see I told you so” or would a wake the bleep up do? Ambrose Evans-Pritchard has penned a piece for tomorrow morning’s edition of the U.K. Telegraph which should either put you into Depends or force you to use Cyber-Monday to reinforce your supplies: Europe’s shrinking money supply flashes slump warning Personally, I do not think it is a warning. I think it is Lehmanesque capitulation. Got gold? Silver? Ammo? Read this from the article: “This is…


11.28 V of Galt: Live with Burnt Turkeys, Burnt markets and more

By John Galt November 28, 2011 Live 7 p.m. to 9 p.m. EST TONIGHT: Well, I can now officially call myself a “victim” as my wife caused me great pain this weekend, but I still love her, but in reality, she deserves to be condemned to the same punishment I have for the next month (watching the Bucs). The world news is as doomerific as always if not worse. The economic news sucks. So where can I find something to smile about? I’ll Tebow on it and explain later on during…


Is Retired General Colin Powell Obama’s Uncle Tom?

By John Galt November 28, 2011 – 11:15 ET With the liberal left and establishment globalists speaking in tongues to protect the regime, it was a major disappointment to listen to retired General Colin Powell once again illustrate his penchant for putting race above the good of the nation in a very subtle undertone yet blatant to the experienced observer. From the ABC News’ program, This Week with Christiane Amanpour, via Mediate: Why is this important? Mr. Powell has been consistently color blind to reality since the nomination of President Barrack…


The Pakistan Situation is far more Dire than the U.S. Media is Reporting

By John Galt November 28, 2011 – 08:00 ET The editorial cartoon in this morning’s edition of Pakistan Today tells the tale of woe the U.S. mainstream media will attempt to hide from the masses to prevent any political backlash. The outrage in Pakistan is impossible to miss and it is doubtful that a simple increase in financial aid will pacify the people or government of Pakistan at this time. After years of errors like the attack over the holiday, if it was an error at all, the psychology and relationship…


11.28 U.S. Market Preview: Let the Eurocircus Vapor Rally Begin

By John Galt November 28, 2011 – 07:20 ET After the latest rumor de jour was crushed by facts: IMF Denies Italian Bailout Package Talks The markets do not care. The Eurorumor of the day was enough to juice the futures and Asian markets overnight moving money out of the Forex safe currencies and into speculative plays for window dressing in the equities markets. The big movers were obviously EUR/USD and EUR/JPY with a nice gap in both as highlighted in this hourly chart of the EUR/USD: Look for the rally…


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