Global Consumer Confidence: "We Start the New Year with Caution"

Nielsen Global Online Consumer Confidence Survey

Global Consumer Confidence: Concerns Around the World

"Global consumer confidence indexed at 91 in Q4 2012, a one-point decline from Q3 2012, but an increase of two points from Q4 2011, according to consumer confidence findings from Nielsen, a leading global provider of information and insights into what consumers watch and buy. However, the relatively flat global average across the last year does not tell the entire story. Across the 58 countries we measured in Q4 2012, confidence declined in 33 countries, remained flat in six countries, and increased in 19 countries relative to the prior quarter."

Global Online Consumer Confidence by Quarter
Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism.




“Consumers around the world grappled with increasing economic concerns as the Euro zone crisis spread from troubled to core countries, the United States fiscal cliff threat loomed large, and China’s rising inflation sparked monetary policy action,” said Dr. Venkatesh Bala, chief economist at The Cambridge Group, a part of Nielsen. “Consumers are proceeding with caution in 2013 and showed renewed discretionary spending restraint in the last quarter amid further global economic and political uncertainty.”

Global Online Consumer Confidence by Region
Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism.



"Asia-Pacific (101) and Latin America (96) reported the only regional consumer confidence index increases in Q4, rising one and two points, respectively. Middle East/Africa declined two points to 96, North America dropped one point to 90, and Europe decreased three index points to 71, compared to Q3."

Confidence by Country

India is the most most optimistic country at 121, followed by Philippines 119, Indonesia 117, Thailand 115, United Arab Emirates 113, Saudi Arabia 112, Brazil 111, China 108, Malaysia 103, and Norway 102.

Greece is now the most pessimistic country at 35, followed by Hungary 37, South Korea 38, Portugal 38, Italy 39, Croatia 42, Spain 46, France 52, Slovakia 57, and Japan 59.

U.S. Consumer Confidence

Consumer confidence in the U.S. decreased -1 to 89, which is upper mid-tier worldwide. Previous readings were 90 in Q3 2012, 87 in Q2 2012, 92 in Q1 2012, 83 in Q4 2011, 77 in Q3 2011, 78 in Q2 2011, 83 in Q1 2011.

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Max Keiser: Crash JP Morgan & Jamie Dimon, Buy Silver!

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Max Keiser

Keiser Report: 'Crash JP Morgan' - 2nd Anniversary Special

In this episode, Max Keiser and Stacy Herbert present the two year anniversary special of their Crash JPM, Buy Silver campaign. They discuss JP Morgan doing everything to protect the Queen of their massive silver short position - a position that has DOUBLED in the past two years according to Rob Kirby of GATA and Kirby Analytics. They also discuss Central Banks pullling on their own little bungee cords by printing money. In the second half, Max Keiser talks to James Turk of Goldmoney.com about the link between liberty and gold and the shooting war to follow the currency war. The also discuss the gold/silver ratio and why silver today is like gold at $600.

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Global Consumer Confidence Subdued

Nielsen Global Online Consumer Confidence Survey

Global Consumer Confidence Subdued

Global consumer confidence increased one index point in third quarter to a score of 92 as consumers are caught between very slow improvement in some regions, and the threat of further crises posed by economic volatility, according to consumer confidence findings from Nielsen, a leading global provider of information and insights into what consumers watch and buy.

“The subdued third-quarter results reflect an overall trend that is neither positive nor negative as consumers are treading water very carefully,” said Dr. Venkatesh Bala, chief economist at The Cambridge Group, a part of Nielsen. “Consumers played it safe in Q3, especially in Europe, which still faces a very precarious economic situation despite some recent stabilizing policy initiatives by the European Central Bank. Export growth from China, especially to the Euro zone, has slowed substantially accompanied by restraint among consumers there. Consumers in the U.S., while less directly impacted by Europe, continue to be cautious in the face of an uneven recovery, marked by still-elevated unemployment levels and disappointing payroll growth.”

Key Findings
● Recessionary sentiment grew
● Minimal shift reported in discretionary spending patterns
● Global consumers continued to cut back
● Biggest concerns centered on economy and jobs
● North America posted most positive confidence increase

Global Online Consumer Confidence The current reading of 92 (+1) is above the chart average (90.6).



Global Online Consumer Confidence by Region Asia Pacific continues highest at 100 (no change), followed by Middle East/Africa at 98 (no change), and Latin America at 94 (-2). North America is next at 91 (+3). Europe continues trailing at 74 (+1).



Confidence by Country

Indonesia and India are the most most optimistic countries at 119, followed by Philippines 118, United Arab Emirates 114, Saudi Arabia 113, Thailand 112, Brazil 100, China 106, Malaysia 105, and Switzerland 104.

Hungary continues as the most pessimistic country at 37, followed by South Korea 40, Croatia 41, Portugal 41, Greece 46, Italy 46, Spain 48, Japan 59, Romania 60, and France 61.

U.S. Consumer Confidence Consumer confidence in the U.S. increased +3 to 90 and is higher mid-tier worldwide. Previous readings were 87 in Q2 2012, 92 in Q1 2012, 83 in Q4 2011, 77 in Q3 2011, 78 in Q2 2011, 83 in Q1 2011.

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Marc Faber: Global Crash Coming!

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Marc Faber

Marc Faber's Biggest Warning Yet: Global Crash Coming! Dr. Doom, Marc Faber, warns of a global crash. He discusses China, as well as gold's next move, with CNBC's Jackie DeAngelis and the Futures Now Traders, Rich Ilczyszyn, iiTrader LLC, and Anthony Grisanti, GRZ Energy.

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Man Standing Next to All the Gold on Earth!

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A Guy Standing Next To All Of The Gold In The World

Warren Buffett famously observed that if you melted all of the gold in the world together, you could get a cube of about 68 feet per side. He said this would fit inside a baseball infield.

Deutsche Bank's Daniel Brebner and Xiao Fu recently published a massive report on gold. Like Buffett, the analyst illustrate what all of that gold would look like.

Business Insider: A Guy Standing Next To All Of The Gold In The World

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David Stockman: "Federal Reserve & central banks are fundamental threat to economic future!"

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David Stockman on Federal Reserve Arrogance and Monetary Mission Creep!

Welcome to Capital Account. Now that the Fed has announced QE3 and Japan announced QE 8, Brazil is threatening defensive measures and bringing talk of Currency wars back, according to multiple press reports. Brazil's finance minister coined the term 'Currency Wars' two years ago as governments battled to lower exchange rates to boost competiveness. We talk to David Stockman, former director of the Office for Management and Budget during the Reagan administration, about the malignant effects of Federal Reserve policy and the lack of market-set interest rates!

Our guest, David Stockman, author of "The Triumph of Politics," recently had some choice words Federal Reserve, stating:"The Fed (and the lunatics that run it) are telling the whole world untruths about the cost of money and the price of risk." We talk to him about monetary policy, taxes, sound money, and more.

Plus, the U.S. Senate panel probing JP Morgan's multibillion dollar 'Whale Trade' loss plans to unveil its findings to press regulators to tighten the Volcker Rule. We ask David Stockman if this would be enough to rein in too big to fail bank risk.

Also we launch our Facebook page today! Check it out at www.facebook.com/pages/Capital-Account. Lauren shows off the new page and discusses your comments in Viewer Feedback.

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Jim Rogers: Economic Conditions Will Worsen In 2013 & 2014

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Jim Rogers

Jim Rogers: Conditions Will Worsen in 2013 and 2014.

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Marc Faber: 100 Percent Odds Of A Global Recession

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Marc Faber: 100% Chance of Global Recession In this "Closing Bell" excerpt, 'Gloom, Boom, & Doom Report' publisher Marc Faber explains why he thinks there's a 100 percent chance a global recession is coming.

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Central Banks Are Buying Gold!

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Gold!

The World's Central Banks Are Bulking Up In Gold

At least the central banks in countries that are not already bankrupt! Why do you need gold if you promote a fiat currency system? For global systemic collapse?

The World Gold Council has released its latest quarterly Gold Demand Trends report.

Demand for gold as an investment got crushed in the second quarter this year, declining 25.9 percent from last quarter – the worst quarter-over-quarter drop seen since the third quarter of 2010.

The drop in investment demand was led by weakened demand in India and China for physical gold like bars and coins. The WGC report says that in both countries, "interest in gold bars and coins remains fundamentally strong," but the slump in demand in the second quarter came from profit-taking in India and directionless price action in China.

On the other hand, official sector purchases soared in the second quarter, with central banks around the world scooping up 157.5 tons of gold. That number marks a 62.9 percent increase from the first quarter and a whopping 137.9 percent increase year-over-year.

It is also the most gold central banks have bought up in a single quarter since the WGC started tracking the numbers in the Q2 2009. Buyers include South Korea, Turkey, Russia, and Ukraine.

(Business Insider) 

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Global & USA Consumer Confidence Declines

Nielsen Global Online Consumer Confidence Survey


Global Consumer Confidence Declines

Global consumer confidence declined three index points to 91 in Q2 2012 amid a worsening Euro zone crisis, lackluster U.S. job growth and China’s downward GDP revision for 2012, according to consumer confidence findings from Nielsen, a leading global provider of information and insights into what consumers watch and buy. Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism. Therefore, the current reading indicates a degree of pessimism.

“Consumers are clearly proceeding with caution in relation to their spending intentions,” said Dr. Venkatesh Bala, chief economist at The Cambridge Group, a part of Nielsen. “Consumer confidence lost momentum in the second quarter as global events, including a worsening Euro zone crisis coupled with slowing growth rates in China and India, impacted financial markets and consumer sentiment in many parts of the world. As renewed volatility entered global markets, consumers reacted by reining in spending and consumption intentions.”

Key Findings
● Discretionary spending and saving decreased globally across all sectors
● More than two-thirds (67%) of respondents changed spending habits to save on expenses
● Concern for the economy and job security remained top worries among global respondents
● More than half (57%) of global respondents said they are in recession and half of those believe it will continue for another year
● Indonesia reported the highest consumer confidence index in the survey

Global Online Consumer Confidence The current reading of 91 (-3) is above the chart average (90.4).




Global Online Consumer Confidence by Region Asia Pacific continues highest at 100 (-3), followed by Middle East/Africa at 98 (+1), and Latin America at 96 (-2). North America is next at 88 (+4). Europe continues trailing at 73 (+1).



Confidence by Country Indonesia 120 (+2) is now the most optimistic country, followed by India 119 (-4). Next are Philippines 116 (-2), Saudi Arabia 115 (-4), Malaysia 111 (+4), United Arab Emirates 108 (+3), Brazil 106 (-4), and China 105 (-5). Hungary continues as the most pessimistic country at 30 (-2), followed by Portugal 40 (+1), Italy 41 (-4), Greece 43 (+6), Croatia 45 (nc), South Korea 50 (+1), and Spain 52 (-1).

U.S. Consumer Confidence Consumer confidence in the U.S. plunged -5 to 87 and is mid-tier worldwide. Previous readings were 92 in Q1 2012, 83 in Q4 2011, 77 in Q3 2011, 78 in Q2 2011, 83 in Q1 2011.

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Nouriel Roubini: Perfect Storm for World Economy in 2013!

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Roubini's Devastating Diagnosis - Freeland File

Nouriel Roubini, the NYU economist nicknamed "Doctor Doom" for his prediction of the 2008 financial crisis, believes that events are again turning against the global economy.

Professor Nouriel Roubini forecasts a "global perfect storm" in 2013 for the world economy, if five events occur:
* Crisis in Europe intensifies, recession ensues
* USA reaches fiscal cliff (tax increases and spending cuts), recession ensues
* Chinese economy slows further, has hard landing
* A slowdown in emerging markets (notably Brazil, Russia, India)
* A military confrontation in Iran

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Doug Kass Bearish on Stocks

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Doug Kass: Why I'm Bearish on Stocks Investor Doug Kass describes what he calls a "potentially toxic cocktail" of negative factors that are making him more bearish on stocks.

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Marc Faber: Europe In Recession Right Now

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Siegel, Faber on Europe & China "The ECB should ensure all the deposits of the major banks in the euro zone," says Jeremy Siegel, of the Wharton School at The University of Pennsylvania. Meanwhile Marc Faber, "The Gloom, Boom & Doom Report," shares a bearish view on China. Harry Wilson, former Silver Point Capital partner, weighs in.

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Jim Rogers: Global Economic Shocks Coming in 2013 - 2014

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Jim Rogers: Global Economic Shocks Coming in 2013 - 2014 The G8 meeting in Camp David was focused on saving Europe from its economic nightmares. World leaders discussed Greece and its severe debt crisis, trying to figure out how to save the eurozone. The Great Recession struck the world nearly four years ago, but the aftershock is still being felt. And it's unclear when the economy will finally start to recover, and where its new center will emerge. So are there any signs of light at the end of the tunnel? RT talks to one of the insiders of the world financial elite, co-founder of the Quantum Fund, Jim Rogers.

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Marc Faber: Global Recession 100% Certainty

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More Gloom & Doom Coming? Marc Faber, publisher of the Gloom Doom & Boom Report, says a global recession is 100% certain. He expects a global recession, including the USA, by the end of 2012 and beginning of 2013 as a result of a "gigantic systemic failure".

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Marc Faber: Looming Global Economic Catastrophe?

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Marc Faber: Looming Global Economic Catastrophe? The biggest bear of all, Dr. Doom (Marc Faber), discusses the future of the euro and whether a global catastrophe is on the way, with CNBC's Brian Sullivan and the Money In Motion traders.

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Global Consumer Confidence Improves, Degree of Pessimism Persists

Nielsen Global Online Consumer Confidence Survey


Conditions Are Improved, But Still Fragile Global online consumer confidence increased +5 to 94 and in 38 of 56 markets measured. The economy, job security, and work/life balance were the top 3 global concerns. The survey was conducted between February 10 and February 27, 2012. Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism. Therefore, the current reading indicates a degree of pessimism.

Key Findings
● Consumer Confidence around the world increases five points to 94
● Consistent good news outweighed the bad
● Economy and job security remained top concerns
● More than half of global respondents (57%) said they are in a recession
● Overall consumer confidence increased across the regions
● Confidence increased in 16 of 27 European markets

Global Online Consumer Confidence The current reading of 94 (+5) is above the chart average (90.3).




Global Online Consumer Confidence by Region Asia Pacific continues highest at 103 (+4), followed by Latin America at 98 (nc) and the Middle East/Africa at 97 (+2). North America improved dramatically to 92 (+8). Europe continues trailing at 72 (+1).

 

Confidence by Country India continues as the most optimistic country at 123 (+1), followed by Saudi Arabia 119 (+6), Indonesia 118 (+1), Philippines 118 (+1), Brazil 110 (-2), and China 110 (+2). Hungary continues as the most pessimistic country at 32 (+2), followed by Greece 37 (-4), Portugal 39 (+3), Croatia 45 (+2), Italy 45 (-4), and South Korea 49 (+3).

U.S. Consumer Confidence Consumer confidence in the U.S. increased +9 to 92 and is mid-tier worldwide. Previous readings were 83 in Q4 2011, 77 in Q3 2011, 78 in Q2 2011, and 83 in Q1 2011.

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Global Consumer Confidence Flat, Pessimistic: "Some caution for the year ahead"

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Nielsen Global Online Consumer Confidence Survey


Global Consumer Confidence Flat, Pessimistic Global online consumer confidence increased +1 to 89, after 7 consecutive quarterly declines. However, confidence decreased in 35 of 56 global markets measured. The economy, political stability, and increasing food prices were the top 3 global concerns. e survey, conducted between November 23 and December 9, 2011. Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism.


Key Findings
● Consumer Confidence around the world increases one point to 89
● China confidence increases four points to 108
● Confidence declines in 24 of 27 European markets
● More than half (52%) describe finances as excellent/good
● 65% think it is not a good time to buy
● U.S. consumer confidence index increases 6 points to 83

Global Online Consumer Confidence The current reading of 89 (+1) is just below the chart average of 89.7.




Global Online Consumer Confidence by Region Asia Pacific was highest at 99 (+2) followed closely by Latin America at 98 (+1). Middle East/Africa continued #3 at 95 (-1), followed by North America at 84 (+5), and Europe at 71 (-3).



Confidence by Country India continues as the most optimistic country at 122 (+1), followed by Indonesia 117 (+3), Philippines 117 (+5), Saudi Arabia 113 (-7), Brazil 112 (0), and China 108 (+4). Hungary continues as the most pessimistic country at 30 (-7), followed by Portugal 36 (-4), Greece 41 (-10), Croatia 43 (+3), and South Korea 46 (+6).

U.S. Consumer Confidence Drops Consumer confidence in the U.S. increased +6 to 83 in Q4 2011, from 77 in Q3 2011, 78 in Q2 2011, and 83 in Q1 2011.

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Economic & Market News: Fears About Europe Ease Some (Weekly Update)

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Economic & Market News: Fears About Europe Ease Some

Overview Sentiment is "cautiously optimistic" about the global recovery. Asia is the most robust economic region and Europe is the weak link.

Europe Sovereign Debt Crisis Fear eased some this week as concerns about Spanish sovereign debt and the Spanish banking system were not as intense. Spain sold bonds and the auction was successful. The Euro has rallied and the EUR/USD closed the week on June 18 at 1.23862, after a bottom on June 6 of 1.18971.  The daily and weekly rise and fall of the Euro has been an indicator of the uncertainty, and at times fear, in the global markets and financial system regarding the viability of Greece, Spain, the EU, and ultimately the Euro.

The EU is to release bank stress tests results of the major European banks in late July, to disclose the state of the EU financial system. However, sovereign debt exposure of the banks to the EU countries of concern is reportedly not going to be revealed. We'll see - I think the pressure will be intense to disclose this information and it will probably be reported.

Positive news has kept the crisis from being total gloom. The EuroZone industrial output surged in April per a report June 14. Moody's reported June 11 that Europe's major banks can absorb sovereign debt losses from Greece, Portugal, Ireland, and Spain.. Legitimate stress tests will prove that one way or another. The IMF and EU have so far kept pressing Greece, Spain, Portugal, Ireland, and Italy (the PIIGS) to implement strict fiscal austerity plans.

First Greece overspends, then the EU, ECB, and IMF bail the Greeks out, then fear of contagion to Portugal, Ireland, Spain, perhaps Italy and even UK increases.  Spain has been downgraded by Fitch from AAA to AA and on May 28 the French Budget Minister said France could not ultimately maintain their AAA credit  rating.  First Greece was downgraded and crisis ensued, then Spain was downgraded - next Portugal and Ireland, then later Italy?  The value and viability of the Euro itself continues as suspect, along the EU banking system and overall EU financial and economic system.  Until the world is convinced the EU can hold together and remain viable, market fear and volatility will continue and the USA equity markets are in limbo with little hope of regaining the 2010 YTD highs.

The more the IMF intervenes to bailout the EU, the more the USA does, since the USA contributes billions to the IMF.  USA taxpayers to the rescue!  The EU appears to have solved the liquidity crisis, but whether the solvency crisis can be ultimately be resolved is in doubt.  Hence, the viability of the EU is in question.  Nouriel Roubini summed up the Euro Crisis here.  The Euro rallied this week, which is positive for USA stock markets. The four largest economies in the EuroZone are Germany, France, Italy, and Spain.

USA Leading Economic Indicators (LEI) The Economic Cycle Research Institute reported their Weekly Leading Index fell yet again on June 18 and a 6 week downtrend has now occurred.  Lakshman Achuthan of ECRI  says no persistent downtrend and therefore no double dip recession yet.  Previously, The Conference Board reported the USA Leading Economic Index bounced back to +0.4% (preliminary) in May. This is encouraging data and maintains the uptrend. The LEI monthly increases (revised) in 2010 have been April 0.0%, +1.4% in March, +0.4% in February, and +0.6% in January. Since the equity markets are also considered leading indicators, this data is bullish for USA equities.

USA Economic Trends USA economic data has been overall positive with dips (such as the recent Philadelphia Fed economic report and USA weekly unemployment claims) along the way - "cautiously optimistic".  The problem is the data is not all going in the same way to indicate anywhere near a robust recovery. Freight traffic (sea, air, rail, truck) continues to grow. The June 9 Fed Beige Book reported was "economic activity continues to improve". Also on June 9, Fed Chair Bernanke stated to Congress "the recovery in economic activity...has continued at a moderate pace".  "Moderate" is the current theme of the Fed & Bernanke: moderate growth, moderate pace, etc.  University of Michigan USA consumer sentiment for May was the highest in 2.5 years, yet USA May retail sales decreased for first time in 8 months.  China exports continue to show strong growth. How significant the ultimate impact of the BP Gulf Oil Spill will have regionally and nationwide remains to be seen, but obviously it is negative.

USA Unemployment (Jobs!) The weekly unemployment claims are not indicating a robust or even major economic recovery, even though a lagging indicator. The BLS May Employment Situation report was disappointing and has had a bearish effect on equity markets.  Even though the unemployment rate decreased to 9.7% from 9.9% and total jobs increased +431,000, the private sector generated only +41,000 jobs while the public sector increased by +390,000.  In April, the private sector created +218,000 jobs.  Obviously, we all can't work for the government and it's the private sector job growth that will create a viable USA economic recovery.  The May U-6 unemployment rate (Table A-15, seasonally adjusted) was 16.6%, down from 17.1% in April.  In addition, the Gallup Poll reported underemployment in May at 19.1%, compared to 18.9% in April, which was also disappointing.  However, The Conference Board's Employment Trends Index increased in May for the ninth consecutive month, is up +9% YoY, and "jobs will likely expand further in the next several months".

World Economic Trends

Economic data has been overall positive for most of the World, especially Asia. Europe is now the weak link in the global recovery but the Euro Area might eke out some GDP growth for 2010 per the ECB.  China and Asian exports continue to show strong growth.  Japan has raised their economic assessment, but still cautious. However, OECD composite leading indicators have slowed down indicating continued but slower global growth.  The semi-annual IMF World Economic Outlook (April 2010) is reviewed here.

USA Financial Regulatory Reform Meanwhile, back in the USA, the political battle continues to reform the financial system, which creates uncertainty first within the financials sector  and then within the markets.  Some more information on this is posted here.  After any financial reform is passed by Congress, this should eliminate the uncertainty for at least the rules of the road, and then the related financial system impact can be determined. If Congress waters down the final reform bill, then the financial system is truly rigged and the greatest bank robbery in the history of the world will continue, paid for in the past, now, and in the future by the American taxpayers.

USA GDP The BEA "Second Estimate" for Q1 2010 was +3.0% and Q4 2009 was +5.6%.  Economist Peter Morici has some comments about GDP and the BLS May jobs report here, "Halting Recovery Keeps Unemployment High".  Morici states that the USA needs about +3.0% GDP growth to "pull down unemployment" and that recently actual GDP growth has been +2.0%.

USA Sovereign Debt Of note the week of May 31 was the funded federal debt exceeding $13 trillion!  Even more incredible is the USA GDP is approximately $14.5 trillion.  So funded federal debt is rapidly approaching the total of the entire American economy.  The debt totals can be seen at USDebtClock.org.  There will be a Day of Reckoning as Congress cannot stop spending, be they Republicans or Democrats. Federal spending has taken on a life of its own as Congress sends  home the pork and spends on programs that are politically advantageous.

When the Day of Reckoning  will be, I do not know: 1 year? 5 years? 10 years?  The Peter G. Peterson Foundation has the best information on this national disgrace here.  David M. Walker, the former Comptroller General of the United States, is the CEO of the Foundation and has been warning about this impending disaster for years.  On June 10, Mr. Walker stated, “We’re worse than Ireland. We’re two years away from being Portugal and 10 years ago from being Greece.” Former Fed Chair Alan Greenspan warned on June 17 the USA may soon reach the borrowing limit and a "tectonic shift" in fiscal policy is required.

There is also the same sovereign debt risk concerns for USA states, cities, and smaller government entities. Illinois and California are the of most concern for default risk, but many states struggling to balance the budges.

Goldman Sachs & The USA Financial System  The SEC fraud charges, and more claims under investigation, against GS also bring into question the fairness, validity, and viability of the USA financial system.  The Europeans are investigating GS and Merrill Lynch of Bank of America, Deutsche Bank, et.al.  There has even been a call for China to investigate Wall Street.  Until the Wall Street Banksters are brought to justice and financial system reform is implemented, the USA financial system is a fraud and corrupt - the USA taxpayers and citizens are being defrauded.  These investigations and charges will drag on indefinitely, probably for years. Markets could be impacted off and on as more Wall Street Banksters are hopefully removed from the financial and market systems.  More financial institutions will be hunted down and an examples made of them. The 3 credit rating agencies, S&P, Moody's, and Fitch also have gamed the system.  So there will be ongoing market reactions, just as with the EU, to contend with while trading.

USA Quarterly Earnings Season was all but forgotten for Q1 and we now await Q2 earnings season.  Quarterly earnings have been very encouraging, especially in the technology, financial, and industrial sectors that I pay special attention to.

USA Flash Crash! The fairness, objectivity, and validity of the entire USA equities markets, and other markets, is under suspicion.  Frankly, I think the entire USA financial and market system is being questioned. The May 6, 2010 Flash Crash amplified and maginified the ongoing USA financial system debacle.  Are we being totally gamed, and controlled, by Wall Street?  Will the USA government take control and stop the Wall Street Banksters?  This Dylan Ratigan video sums it up.

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