domingo, 27 de novembro de 2011
Fitch downgrades Portugal to junk status
Yipee we're junk again!
Well I'm just writing this about Fitch rating agency because Moodys have done the same to Portugal too a few months ago and I wrote a post about that too:http://celta-myuniverse.blogspot.com/2011/07/moodys-rating-agency-lows-to-junk-level.html
So next time other reputable agency like Standard & Poors does the same I will not write anything anymore, I'm kind of tired of all that thing of rating agencies.
So we are financial waste, we are junk, our economy sucks, do not invest in Portugal...I mean do not invest in our sovereign debt...yeh if you're an investor don't apply that money in our debts, that's stupid...in my oponion buy sovereign debts is stupid anyway, this is only a speculative mechanism...the financial world transformed itself in a casino game...with lots of gains for the winners players and lots of losses for unlucky gamblers ...the problem is that what was bet by the gamblers were our future, our homes, our jobs, our saving in the banks and now USA which rating agencies are attacking Europe all the time have dumped entire families from their houses for not paying loans to the bank, and then the same banks can't afford the taxes so they sell houses for 1 buck http://celta-myuniverse.blogspot.com/2011/07/have-buck-buy-house.html and people who had a job now live on tunnels and sewers...in the USA http://celta-myuniverse.blogspot.com/2011/11/is-this-american-dream-sewer-cities.html
Oh please TV talks all the time about crisis, recession rating agencies, and sovereign debt crisis, and the "help" of International Monetary Fund, the financial markets who we should obey...but does anyone care about telling people who are the markets? why are they so important? how we get to this low point? does anyone explained people what is the IMF? does anyone explained why what rating agencies say is such a big deal? NOOOO instead TV shows us this situation as inevitable...and that's pretty much just it.
Besides all that Fitch praises us for our efforts cutting on our State Budget...and they put us in junk level? it's a contradiction...
My opinion is that Rating Agencies and the Financial Markets with no face, stock exchanges are nothing but the symbols of the new financial capitalism.
Rating Agencies have the power to decide everything (the fall of states like Greece for example) and the Markets (we hear them talking about financial markets as divine entities...it's crazy) are the new global dictators...they have no face and are protected by our governments that we thought should represent us and not be against us.
As the result? someone is doing a big big businness out of this, and has no name or face...we call them the 1%. One thing is sure the money didn't get away, it just changed hands, now the banks are out of our savings and we have to put the robbed money stolen by some sort of divine financial entitie back on banks. And we just swallow up the lie?
I just can't believe in an economy that is not even explained how it works to its citizens...and I'm sure they don't want us to know how it works...we would be stunned.
So keep rating pals we don't care about your rates!