Home > Man-Made Disasters > Stocks Plunge as Ratings Agency Cuts U.S. Outlook to Negative for First Time Since Pearl Harbor 70 Years Ago

Stocks Plunge as Ratings Agency Cuts U.S. Outlook to Negative for First Time Since Pearl Harbor 70 Years Ago

04/19/2011 Leave a comment Go to comments

“Fears over the U.S. recovery reached a new high as the country was slapped with an unprecedented warning that its debt rating could be downgraded because of an inability to tackle its massive budget deficit.

In a major blow to President Obama and the U.S. economy, leading ratings agency Standard & Poor’s revised its long-term outlook from ‘stable’ to ‘negative’. It is the first time S&P has done this since it was formed in 1941 – the year of the Japanese attack on Pearl Harbor.

The ratings giant also said there is a one in three chance that in the next two years it will downgrade the coveted gold-plated AAA rating that the U.S. has enjoyed for the past 70 years.

Stocks continued to tumble around the world today as the impact of the announcement spread. Japan’s Nikkei 225 index slid 1.5 per cent to 9,413.99; Hong Kong’s Hang Seng index was down 1.4 per cent to 23,502.29 and South Korea’s Kospi gave up 0.4 per cent to 2,129.42.”  Read more.

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  1. Willard's avatar
    Willard
    04/19/2011 at 3:21 PM
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    Warning to Rich Oppressors

    Jas 5:1 Now listen, you rich people, weep and wail because of the misery that is coming upon you. Jas 5:2 Your wealth has rotted, and moths have eaten your clothes. Jas 5:3 Your gold and silver are corroded. Their corrosion will testify against you and eat your flesh like fire. ((((((You have hoarded wealth in the last days.)))))) Jas 5:4 Look! The wages you failed to pay the workmen who mowed your fields are crying out against you. The cries of the harvesters have reached the ears of the Lord Almighty. Jas 5:5 You have lived on earth in luxury and self-indulgence. You have fattened yourselves in the day of slaughter. Jas 5:6 You have condemned and murdered innocent men, who were not opposing you

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  2. AtHisFeet's avatar
    AtHisFeet
    04/19/2011 at 6:24 PM
    Reply

    And Ezekiel 7:19 – They shall fling their silver into the streets, and their gold shall become an abhorrent thing; their silver and their gold shall not be able to deliver them in the day of the wrath of the Lord. They cannot satisfy their appetite, nor can they fill their stomachs, for their iniquity has become an occasion of stumbling.

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