Karl Marx, A Contribution To The Critique Of Political Economy, (1859), p. 21
Every one who has any interest of the financial history of the New World has heard the old saw of the two social qualities that the future trophy wife in New York City is not looking for in a man. Those two qualities are being standard and/or poor!
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| A bond of the Dutch East India Company... |
It was the first time in the Oracle of Ottawas life that he saw a down graded bond rise in price the day after its downgrade! For the life of me I cannot remember another example of such an event! Can you? Didn't think so... And after the 2008 fiasco it was surprising that any one of note took any notice at all! I have long ago ignored any rating by the lads at Standard And Poor.When you downgrade a nation state and a whole bunch of former Third World countries catch you on your math, you are due for some corporate retreats with the navel gazing option! That two thirds of the industry did not agree with you should perhaps be mulled over for a somewhat intense period of scrutiny...
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| A Sears Debenture... |
Why, the Oracle of Ottawa is convinced that the offending CRA has a political axe to grind. After seeing one of the representatives on the Business News Network, I caught the message between the lines. We are going to totally fuck up that black bastard !@#*(* that is now in the White House. That is the way the reps speel came across to this viewer. Perhaps Standard And Poor should reconsider allowing this guy in front of any camera at all.
And today the stock markets have spoken.For a country that has just been down graded the stock markets have decided to totally ignore Standard And Poor. It seem that the majority of investors around the world have come to the realization that what one CRA says is to be taken with many grains of salt and in the harsh glare of the light of reality, ignore it.
Another Excellent piece by Russia Today! An up and coming world class media player...
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