"Our ability to continue funding our liabilities is now greatly diminished."
August 7, 2011
By Brandon Smith
Around the world, starting Monday, all eyes are on the markets. The tension is palpable. The uncertainty is ample. And anger is heavy in the air. As predicted, the debt ceiling deal was not only NOT enough to assuage economic fears, it actually exacerbated them, triggering a flight from the Dow, and creating a decisive opportunity for ratings agency S&P to cut the once perfect U.S. credit rating from AAA to AA+.
At Alt-Market, we often talk about points of balance, and how certain moments in history become highly visible indicators of balance lost. If we pay close attention, and know what we are looking for, these moments can be recognized, allowing us time to shield ourselves from the explosion and the resulting financial shrapnel. The past two weeks have culminated into one of these defining events that tell us the tide has fully turned, and something new and dangerous is just over the horizon. The question now is; what should we expect?
The nature of the credit downgrade situation is not necessarily “unprecedented” in history, but it is surely unprecedented on the scale we see currently in the U.S. It is difficult to predict how exactly the investment world will react. Some consequences, though, are probable, if not inevitable. Let’s examine the events we are likely to see in the coming weeks as well as the coming months, as nations attempt to adjust to America’s final plunge… Read More
Sunday, August 7, 2011
August 7, 2011
HAIKUA (HawaiiNewsNow) - A Maui man was one of the 30 Americans killed in a helicopter crash in Afghanistan. According to friends, Kraig Vickers of Haiku died when insurgents shot down the military chopper. Vickers was a 1992 graduate of Maui High School.
The Maui News reports that he was a Navy bomb disposal team member. This was the single deadliest loss for U.S. troops since the war in Afghanistan started. Most of those killed were Navy SEALS.
Maui native among dead; ‘a great loss’
Kraig Vickers, a 1992 graduate of Maui High School and a Maui Interscholastic League defensive football player of the year, was among 30 Americans who died in a U.S. military helicopter shot down during fighting in Afghanistan, his father, Robert Vickers, confirmed by telephone Saturday night.
Kraig Vickers, 36, was a Navy Bomb Disposal Team member, said his father, who could barely speak of his loss.
Mr. Vickers said he and his wife, Mary, were extremely proud of their son and his 15-year military career. Read More