Bank bailouts bleeding Ireland! Ireland's credit rating downgraded by Moody's

Date: 7/19/2010

Bank bailouts bleeding Ireland! Ireland's credit rating downgraded by Moody's StockmarketFunding.com's CEO & Chief Economic Analyst Mario Marciano alerted investors and traders over a year ago of the credit risks of the Eurozone, specifically Ireland and how the risks were systemic and would ultimately lead to debt downgrades.We highlighted the problems with the very high debt/GDP Ratio.

In this video we discuss US GDP increase of 3% and how that can easily go to 0%. The support of the current banking system in Europe as made it clear that Ireland has a problem. These worldwide leaders didn't want to do the right thing and clean up their balance sheets. They decided to bailout Greece and we told people about the longer term implications of such irrational policies.

The earnings cycle in the US will go down as global spending continues to decline. This is the peek in those earnings cycle as we've been highlighting in recent videos.On 30 September 2008, the Irish Government declared a guarantee that intends to safeguard the Irish banking system.

The Irish State guarantee, backed by taxpayer funds, covers "all deposits (retail, commercial, institutional and interbank), covered bonds, senior debt and dated subordinated debt".As of December 2007, Ireland's net unemployment benefits for long-term unemployed people across four family types (single people, lone parents, single-income couples with and without children) was the third highest of the OECD countries (jointly with Iceland) after Denmark and Switzerland.

How's that working out for ya? Credit agency Moody's has downgraded Ireland's government bond ratings to Aa2"We will be bring to you a special on California debt situation and how they will go down just like Lehman Brothers.

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