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  Jim Kingsland

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  General News, Jim Kingsland Market Commentary

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  10/11/12

  Is anyone really surprised that Spain was downgraded again to BBB- by Standard and Poor’s? This death by a thousand cuts thing by these self important ratings agencies gets old after a while. Well, of course, S&P would downgrade Spain to BBB-.  Spain should actually be in the C range to D as in D for dummies and dimwits. The credit ratings agencies slowly lower the rating to give the usual extend and pretend extra time when time really has run out. But the game continues on and its look like short squeeze Thursday as the crowd reckons there is still more time for drama. The next step in the script is supposed go something along the lines that Spain asks for and get a bailout with big strings as in a change of leadership to a Golman Sachs bred technocrat, but so far Spain has been resistant to such a plot complication.  Stay tuned for more disorder in the court!

  Related: GOLDMAN’S COHN: Only A ‘Small’ Chance The Euro Area Sticks Together http://read.bi/RhOw4F

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  Heard on the Twittersphere: “UBS raises 2012 gold forecast to USD 1700 from USD 1680 an ounce.” They are a bit behind the times.

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  Priceless Commentary On Apple. MSM wants you to think it’s finished, when in reality Appleis raking in over $76-thousand dollars a minute in PROFIT: http://www.zerohedge.com/contributed/2012-10-10/aapl-makes-76103-while-you-read

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  From the paradigm of Apple mirth and merriment, let’s return to a nightmare scenario. Greek unemployment has now crossed the 25% level.

  

  Following the latest unemployment numbers here in the US, the incumbent of the White House has much to bark about, with unemployment (the blue line) still under 25% – whoopee!

  

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