Sovereign Debt Update

Real world continues to confirm warnings issued by Weiss, et. al.

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Global markets

Asian stocks plummeted Wednesday in reaction to the sovereign debt downgrades of Greece and Portugal, and Europe stocks extended losses, with Portuguese stocks especially volatile. Yields on two-year Greek debt surged to the 30% range. (Marketwatch e-Newsletter, 4/28/10)
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In spite of efforts by European Union to stick their finger in the dam, Greek sovereign debt problems continue to spill over into world markets. Now begin adding the same problems of Portugal, Spain, Italy, & Ireland. Unabated debt always has been and always will be bad news. Sorry about that, socialists.

Probably going to see some rough going as 2010 rolls on. Watch your backside.

National Debt Risk

I know that I am sounding like a "broken record" with this (for those too young to understand this comparison, let me know; I'll explain it to you), but I think that there is a need for continuing awareness about the issue of national debt. Even though more leading business men and women are saying that America is in an economic recovery and not facing another dip into recession, the consequences of increasing sovereign debt are becoming reality. I suppose not many Americans are concerned at all about the Greek sovereign debt crisis, but it already has an impact on world markets. Some of our most volatile days of late can be traced to global issues concerning the impending collapse of the Greek economy due to its debt obligations. Right now, the Greek government is staving off greater disaster by making arrangements for assistance from the Euro nations and the International Monetary Fund. However, also tottering on shaky financial ground are Ireland, Italy, Spain, & Portugal. And apparently striving to catch up with their debt problems is the United States.

The question being asked is, "Who can bail out the US?" The answer seems to be, "No one." Here is more discussion on this issue...

"14 Risks With Supposedly Safest Securities"

"Dollar Doomsday 2010"

I do not know what the Weiss Group is proposing with their upcoming announcement. I have observed that it typically announces a new service. Nevertheless, there is still a lot of info to be gained from the no-cost issues they provide. And I have noticed that not all advisors within the Weiss family of advisors and newsletters are quite as alarmist as Martin Weiss and Mike Larson are sounding here. So, use your own sense and experience with anything they suggest. That said, I have found in my own research and experience with them that they have made and still make sound suggestions.

I'll keep sharing what I learn, but you can go directly to the source, too.

Quotes From the Comedians

I didn't think that the late night hosts had it in them!

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Liberals are asking us to give Obama time. We agree and think 25 to life would be appropriate. America needs Obama-care like Nancy Pelosi needs a Halloween mask. -Leno


Q: Have you heard about McDonald's' new Obama Value Meal?
A: Order anything you like and the guy behind you has to pay for it. -O'Brien


Q: What does Barack Obama call lunch with a convicted felon?
A: A fund raiser. -Leno


Q: What's the difference between Obama's cabinet and a penitentiary?
A: One is filled with tax evaders, blackmailers and threats to society. The other is for housing prisoners. -Letterman


Q: If Nancy Pelosi and Obama were on a boat in the middle of the ocean and it started to sink, who would be saved?
A: America ! -Fallon

Q: What's the difference between Obama and his dog, Bo?
A: Bo has papers. -Kimmel


Q: What was the most positive result of the "Cash for clunkers" program?
A: It took 95% of the Obama bumper stickers off the road. -Letterman