Oil is over $100 per barrel and gold is approaching $1000 per ounce. Consumer confidence just hit a 15 year low and every statistic about the housing bust just keeps on getting worse. Unemployment has spiked upward and so has price inflation. How has the stock market managed to hold its own under these conditions? One factor was the surprise cut in the Fed Funds rate, another was the announcement in the media of a bailout of Ambac and MBIA, the bond insurers. Now we have the rating agencies reaffirming their AAA rating on Ambac’s and MBIA’s credit ratings which must be maintained. [...]
Read More...
[Source: The Money Blogs]
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment