WEB Notes: Before I provide our opinion, I want you to hear from the experts.
“The market got phony again. It’s a shame. It can’t handle the volume and it can’t handle this level of selling. It’s OK. It happens periodically and it freaks people out at home. We can spin any tale we want, but what I am saying is that the market doesn’t work at certain points.” said Jim Cramer of Mad Money (CNBC).
WEB Notes: When you build a house of cards, it can all come down pretty quickly, especially the higher you stack the cards…
It is 8 a.m. and the line of Venezuelan refugees outside the Interpol office already stretches to the end of the block.
S&P Global Ratings downgraded Venezuela’s foreign currency sovereign credit rating late Monday beyond junk to “selective default” after it failed to make two payments within a grace period.
WEB Notes: This is Venezuelan President Nicolas Maduro speaking. He understands who has their fingers on the controls and levels of this world.
WEB Notes: We posted about this in the past and apparently it still continues.
WEB Notes: Type “Jim Rogers” into our search field and you will find more warnings of doom over the years. The problem is when? People are always setting timelines for this stuff and no know really knows when it will happen. Eventually Rogers and others will be right. But does that make one a wizard when they say it every three months? I do not like our readers to be worried about these type of things. Know the financial system is artificially inflated and have your ducks in order and you will be okay. Your ducks in order partially means to be out of debt.
WEB Notes: $14.6 billion in debt. It is always “okay” for government to go into debt with the promise of using your tax dollars to pay it off. How about your personal income. How much debt can you go into before you are out on the street with a hungry belly? This is the problem with government, it becomes too big. Big government is the problem, it cannot even manage itself.
WEB Notes: We have heard this a few times now. They always like to announce it before it happens.
Illinois residents may feel some solidarity with the likes of Puerto Rico and Detroit.