2011.8.8 (Monday)
Standard and Poor's (S&P) has downgraded America's credit (debt) rating from AAA to AA+, the only major (international) credit firm to do so, much to the "displeasure" of the US government and a substantial part of Europe and Asia, last Friday.
Asia woke up this morning to tumbles and rumbles in the "financial" and "stocks" markets, with the Nikkei fall below 9.100 points, Dow Jones 11.300, and the US$ trades against the Japanese yen at 77.77 JPY to a dollar, a new low. Not truly a bad piece of news to someone like myself who receives paychecks in JPY, and wishes to travel abroad.
To a layman, this is surreal, almost unreal. I am not into shares or high risks investments.
In fact, this "Virtual Collapse" means almost nothing to me. I am not too concerned by this hype and why governments should get "all over" these issues by reacting in a panicking fashion, and "warned" citizens of more "stormy weathers ahead", and "save for a rainy day".
The World Economy does not need another Virtual Collapse. Perhaps the few greedy people behind the scene, orchestrating this unnecessary drama, should stop before lightnings hit U?
Stop the fear mongering. It is not doing anyone any good.
Standard and Poor's (S&P) has downgraded America's credit (debt) rating from AAA to AA+, the only major (international) credit firm to do so, much to the "displeasure" of the US government and a substantial part of Europe and Asia, last Friday.
Asia woke up this morning to tumbles and rumbles in the "financial" and "stocks" markets, with the Nikkei fall below 9.100 points, Dow Jones 11.300, and the US$ trades against the Japanese yen at 77.77 JPY to a dollar, a new low. Not truly a bad piece of news to someone like myself who receives paychecks in JPY, and wishes to travel abroad.
To a layman, this is surreal, almost unreal. I am not into shares or high risks investments.
In fact, this "Virtual Collapse" means almost nothing to me. I am not too concerned by this hype and why governments should get "all over" these issues by reacting in a panicking fashion, and "warned" citizens of more "stormy weathers ahead", and "save for a rainy day".
The World Economy does not need another Virtual Collapse. Perhaps the few greedy people behind the scene, orchestrating this unnecessary drama, should stop before lightnings hit U?
Stop the fear mongering. It is not doing anyone any good.