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Moody's Downgrades Portugal Sovereign-Debt Rating
Wall Street Journal ^ | 13 July 2010 | Michael Wilson

Posted on 07/13/2010 1:58:28 AM PDT by ScaniaBoy

LONDON—Moody's Investors Service cut Portugal's sovereign-debt rating by two notches to A1 with a stable outlook early Tuesday, citing the government's weakening financial strength and meager economic growth prospects.

The ratings agency said the continued deterioration in Portugal's debt situation suggests the government's financial strength will continue to weaken in the medium term.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; Foreign Affairs; News/Current Events
KEYWORDS: ecb; eu; euro; portugal

1 posted on 07/13/2010 1:58:30 AM PDT by ScaniaBoy
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To: SAJ; bruinbirdman

Ping!


2 posted on 07/13/2010 1:59:28 AM PDT by ScaniaBoy (Part of the Right Wing Research & Attack Machine)
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To: ScaniaBoy

welcome news


3 posted on 07/13/2010 2:33:08 AM PDT by element92
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To: ScaniaBoy

Guess there buddies shorts were losing to much money since the market has been up lately.


4 posted on 07/13/2010 2:43:46 AM PDT by Racer1
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To: ScaniaBoy

http://www.freerepublic.com/focus/f-news/2451245/posts

Spain curbs ‘millionaire’ pay for air traffic controllers (incredible salaries)

Breitbart.com

According to figures released by the transport ministry last week, 135 controllers earned more than 600,000 euros (830,000 US dollars) per year while 713 earned between 360,000 and 540,000 euros.

By comparison Prime Minister Jose Luis Rodriguez Zapatero earns just under 92,000 euros a year while the average salary in Spain is just over 18,000 euros per year, according to government figures.
In addition, the controllers can retire at the age of 52.
(Excerpt) Read more at breitbart.com ...

Incredible. The Fall of the West. If they make nearly a MILLION DOLLARS a year while they are working, then retire at 52, don’t they get $30,000,000 in retirement pay, if they live long enough??? Total of $50,000,000 each??? What country could ever support this? Oh yeah: Spain, US, UAW, Obama, SEIU, they all want to try!!!


5 posted on 07/13/2010 3:26:41 AM PDT by DontTreadOnMe2009 (So stop treading on me already!)
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To: ScaniaBoy

So is that good or bad for Portugal? Hard to tell with a Moody’s rating.


6 posted on 07/13/2010 3:54:21 AM PDT by Wolfie
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To: ScaniaBoy

Weren´t Moody the guys who gave AAA ratings to collections of deadbeat mortgages?


7 posted on 07/13/2010 4:04:10 AM PDT by Natufian (t)
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To: ScaniaBoy

NO WORRY, uncork another bottle of Borba, poor yourself your first one of many, and watch the sunset (literally and figuratively).


8 posted on 07/13/2010 4:28:43 AM PDT by MSF BU (++)
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To: ScaniaBoy
Somewhere in this global conspiracy of low interest rates, there has to be a move to risk reality.

yitbos

9 posted on 07/13/2010 12:55:15 PM PDT by bruinbirdman ("Those who control language control minds.")
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To: bruinbirdman

Well, Greece couldn’t / did not dare to sell 1 year bonds, but had to sell 6 month bonds at 4.65%. Don’t know if I’d dare to take that risk, but at least risk is being considered.

:)


10 posted on 07/13/2010 1:14:27 PM PDT by ScaniaBoy (Part of the Right Wing Research & Attack Machine)
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To: ScaniaBoy
Interest on debt is reflected on corporate bottom lines. A lower interest rate goes directly to profit line.

Maybe the fed/ECB is just waiting for all the corporations to refinance.

While cash is still king, keep an eye on dividend equities whose price can reflect inflation.

Went to the store yesterday. Noticed that mayo is no longer available in a quart jar. They are now 30 oz.

yitbos

11 posted on 07/13/2010 2:24:46 PM PDT by bruinbirdman ("Those who control language control minds.")
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