In addition to my recent post about how chaotic the recent events have been (debt-ceiling raised, stock market sell-off, gold surge, and a treasuries-outlook downgrade by Moody's), we have had even more bad news.
31 American military personnel were killed early this morning.
Standard & Poors officially downgraded US Treasury debt from AAA to AA+. This is the first time in US history that a major ratings agency has lowered it's ratings on Treasury debt.
The DJIA ended down four out of five days this past week.
All the while, there are countless reports of copper thieves stealing everything from wire to AC units, even from churches .
My predictions for this week are that the stock market is going to tank even further on Monday because of the debt-downgrading on Friday. We might see gold go down on Monday for various reasons, but I predict it will close the week higher than it opens.
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