The Conservative Cave

Current Events => Economics => Topic started by: bijou on June 15, 2010, 09:12:27 AM

Title: Markets Take Latest Greek Downgrade Calmly
Post by: bijou on June 15, 2010, 09:12:27 AM

Quote

Moody's Investors Service cut its credit rating on Greek sovereign debt to "junk" on Monday, long after sovereign-debt worries had spread beyond Greece, resulting in a muted market reaction.

Moody's, a unit of Moody's Corp., downgraded Greece four notches to "Ba1," one notch below investment-grade, from "A3." Moody's also downgraded Greece's short-term debt rating to "Not-Prime" from "Prime-1."...

http://online.wsj.com/article/SB10001424052748704324304575306794131831372.html?%20m%20od=WSJ_hpp_sections_business

Title: Re: Markets Take Latest Greek Downgrade Calmly
Post by: NHSparky on June 15, 2010, 11:30:06 AM

The reason why they're not going apeshit is because 1--it was expected, 2--nobody is rioting (for now).  When the same shit starts happening in Italy, Spain, and Portugal within the next six months to a year, the defecation will DEFINITELY contact the oscillation.