Monday, May 9, 2011

Greece Downgraded Again

Greece's rating was cut again this morning by both S&P and Moody's and estimates are showing the likely return of principle for investors on these bonds at between 25% to 50%.  This means if you own $1,000 in Greek government bonds they may send you a check in the mail for only $250 and some sort of apology.

The following video from Future Money Trends provides an audio and visual to some of the topics I have been discussing over the past month.

It is important to remember that the United States financially is equivalent to Greece, however, we own a AAA rating from S&P and a printing press which has pushed back the day of reckoning.

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