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Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
Posts: 1,038 since Jul 2010
Thanks Given: 1,713
Thanks Received: 3,863
This is going to be a very interesting week indeed. The other thing that comes to mind here with this downgrade is, if the Fed announces more QE, another downgrade is certain. The thought of spending our way out of this has just hit it's limit. As predicted, Keynesian economics has failed. Bernanke better realize this as the Fed has been a major contributer to this entire mess.
I'm not smart enough to know what the answer is and either is Bernanke obviously. He's got himself(and us) in quite a predicament...no matter what he does we're screwed. One thing is for sure though and that is as you have said that Keynesian econmics does not work and if nothing else it would be nice if those running things realized that fact.