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“Whenever you find yourself on the side of the majority, it is time to reform (or pause and reflect).”
― Mark Twain
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The invisible hand doesn't care what Fitch says. The assumption that it (invisible hand) didn't recognize increasing sovereign debt default risks until there's downgrade (Fitch, Standard & Poors, or other) is fodder for social media social media desperate for clicks. The rally in the dollar, stock, and other markets are a function of capital flows and self-preservation.
The US government (and citizens) are irresponsible. There's no denying that. The majority still has yet to realize the impact of infinite debt and spending, but it won't be a de-dollarization into a BRIC currency in 2023. Consumer markets take time to build up, and global corporations need incentive to switch to a new currency. That incentive is not related to oil usage (petrol dollar narrative).
The last downgrade of US debt generated a decent sized decline in 2011. We must be prepared for anything, especially of price close below the important weekly reversal discussed in the Economy & Stock (E&S) Report. The line in the sand is not flexible. A close below it will generate further selling to the next reversal. Please contact us if you're not a subscriber to this important report.
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The Matrix provides market-driven trend, cycles, and intermarket analysis.
