With the US Government caught between a rock and a hard place on whether to raise it's debt limit or impose crippling cutbacks on Government spending could not have been an easy call. Either way there is only carnage in sight for not only the US but for the rest of the worlds nations. Unless anyone has been living under a rock since the 2.8.11 the full brunt of the aftershock sent a tsunami through the global financial system.which has put the media spin doctors into overdrive into diligently informing us all of how bad things really are are. Plus to add insult to injury the US has lost it's once prized AAA rating and downsized to a AA+....ouch! How do you begin unscrambling a global mess like that? I do love it how some individual boffins come forward in the wake only to be heard screaming we told you this would happen. How is this supposed to help when the proverbial shit has finally hit the fan? What we need now are forward rational thinking folks in power, how about empowering Ron Paul into the Presidency seat for starters? It's a heavy burden to put on such an individual but how could he do any worse damage? This fiasco didn't happen overnight, it's been a ticking bomb for some time now.
Here in Australia we are being being lectured by our illustrious Treasurer Wayne Swan that due to the strength and stability of our economy all is well especially with our mining export industry, whilst Prime Minister Julia Gillard is still attempting to shove the Coalition Carbon Tax down the throats of an already unwilling populous. All this political rhetoric it seems is a only a diversion for any plan B needed in the present global situation.
Have a good weekend everyone....
Percentage gain/loss as of 30.7.11 = -3.20%
Profit Factor = 0.94
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