S&P, You've Got To Be Kidding

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	Wednesday August 31, 2011 Email Me | Visit our Blog | Subscribe | Unsubscribe Trouble Reading this Email? - Click Here S&P, You've Got To Be Kidding Good News from... Europe? Jason Cimpl's Hurricane Trade Fellow Investor, Oh Standard & Poor's, you've got to be kidding. Apparently the ratings agency is still giving Triple-A ratings to securities backed by subprime loans. "S&P is poised to provide AAA grades to 59 percent of Springleaf Mortgage Loan Trust 2011-1, a set of bonds tied to $497 million lent to homeowners with below-average credit scores and almost no equity in their properties," Bloomberg reports. S&P seems to have forgotten that these mortgage-backed securities defaulted to the point that it nearly brought the world's financial system down. Of course, banks held too many of them, and had leveraged them too much, but S&P was complicit. But, I guess when you're getting paid -- approximately $1.67 billion in bond rating fees last year -- anything goes. If there was any doubt that S&P had ulterior motives when it downgraded the U.S., this news should remove them. Whatever credibility S&P had should now be completely undermined. And by the way, the parent company for Standard & Poor's is McGraw-Hill, ticker symbol MHP on the New York Stock Exchange. I can't say for sure the stock is headed lower, but earnings estimates have not been lowered, and I have no idea why anyone would pay S&P for a rating that's essentially worthless. I've already offered up my thoughts on consumer confidence polls. It's my experience that consumer confidence correlates poorly to consumer spending. But there was an interesting data point in the dismal August consumer confidence report. Apparently, those polled said they thought inflation would run at 5.8% for the next 12 months. And research shows that consumers have had pretty unrealistic inflation expectations for the last few years... [continue reading at WyattResearch.com]       Click to view the remainder of the article... $14 Trillion in Debt and a 9% Unemployment Rate It doesn't look good for the U.S. right now. We have a lot of work to do to get this country back on track. It could take 5 years...10 years...maybe more... And I don't know many investors who can wait 10 years for their U.S. investments to get back on the winning path. I know I can't. And that's why I've created the U.S. Debt Protection Fund. I'm Ian Wyatt of Wyatt Investment Research. My simple and easy to implement U.S. Debt Protection Fund will quickly and effectively protect your wealth as the dollar loses more and more of its value. Click here to find out how to get your complimentary copy of the U.S. Debt Protection Fund special report...   Market Snapshot US Markets - August 30 Close Dow Jones 11,559.95 +20.70 (+0.18%) S&P 500 1,212.92 +2.84 (+0.23%) Nasdaq 2,576.11 +14.0 (+0.55%) Currencies EUR/USD 1441 -0.003 (-0.209%) USD/JPY 76.775 +0.04 (+0.052%) GBP/USD 1.632 +0.001 (+0.077%) Recent issues of Daily Profit What the Fed is Waiting For Consumer Spending Rises Investors Look for Silver Lining more» Valuable Investment Ideas From Wyatt Investment Research This Strategy is Imperative to Overall Portfolio Success The best way to bring in income from options on a regular basis is by selling vertical spreads. more» Oil Stocks Attractive After Irene A number of oil stocks are worth putting on your radar screen in the aftermath of Hurricane Irene which barreled up the East Coast over the weekend. more» A Value Investor's Gold Stock Shopping List Now that the trend is playing out, I think it's time to ready yourself to buy some gold stocks on sale. more» Independent Investment Services Wyatt Investment Research provides investment research that is independent of the back door deals and machinations of Wall Street. more» Need to retrieve your password in order to view our articles? 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