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I’m starting to wonder what it’s going to take.
Last night, I was unaware that Moody’s had even put the U.S. on its watch list, and it seems the market didn’t realize it either. The futures opened basically unchanged and ever-so-slowly creeped down for a few hours. Since then, then have erased a portion of those losses, and as I am composing this seventy-five minutes before the opening bell, the potential downgrade of the debt of the United States is crashing the S&P 500 futures by all of one-fifth of one percentage point.
Central banks still control the financial markets and global monetary supply is growing below the trend established after 2009.
Below are central bank assets at the major central banks.
And it’s a very hungry beast, guaranteed to get hungrier by the day!
