Image by: Sergio Uceda
By Mike Henderson
Spain has recently had their credit rating slashed two positions from BBB+ to BBB- by Standard & Poor’s.
Speculation now looms on whether Spain is in a condition that is as bad, or worse, than Greece.
In addition, is Italy and Portugal that far behind?
Many people are not aware that there have been sweeping protests this week in Madrid and cities all over the country of Spain.
Are similar protests in the United States that far off?
S&P also maintained a rather negative outlook on Spain with the following comments:
“The deepening economic recession is limiting the Spanish government’s policy options.”
The Media in the United States has largely ignored the protests in Spain, perhaps seeking to quell panic as the United States Presidential Election looms.
One thing is for sure, no one can seem to agree on a plan to get out of this mess.
Is disaster on it’s way to the US as well? The Stock Market faltered recently. Investors are worried about global economic growth slowing.
What do you think? Leave your thoughts below…