The USA’s triple A credit rating has now been downgraded to a double A. Downgraded notes will be worth less and less as time goes on. Note holders of seller financed notes might want to think about cashing out now before things possibly get worse. There does not seem to be an end in sight for years to come with financial forecasters predicting possible further losses as time goes on. People are also cashing out now while they can to buy gold which is skyrocketing in price by the day. With gold currently sold at $1724.40 an ounce, investors will continue to keep a close eye on the price of gold which is lucrative by anyone’s standard.
Last weeks financial indicators witnessed one of the largest stock market fallouts since 2008. The Dow went down 634 points in one day. It was frightening for these shareholders to see such a drop in their bottom line just like that. NASDAQ lost 7% of its total value in one day with stocks plummeting. The S&P 500 lost 6.6% of its total value in one day. This resulted in them downgrading the good ole USA from a triple A rating to a double A rating. In addition to that, Bank of America lost 20% of their total value in one day according to David Favor of “NBC Nightly News”.
The results from this downgrade will be higher interest rates on loans for things like mortgages, credit cards, education, cars, etc. Gold is now on the upswing with prices for gold tripling in the last few years. Many people are now cashing out to buy as much gold as they can with the idea that the countries financial situation could get worse. The experts are predicting very much more of the same, that our present financial situation could potentially deteriorate even further. So it may be a good idea to get the most out your seller financed note while there is still time. Its really hard to say just how much the value of any seller financed note will go down resulting in further loses for our note holders out there with carried back paper.
So in conclusion, its safe to say that our current markets are in turmoil. Because our politicians haggled about policy way too long, we lost our triple A, S&P 500 rating which resulted in the nations leading financial experts predicting that our stock market will continue to fluctuate on this never ending roller coaster. This also means higher prices for everything we buy and uncertainty in the stock market which ultimately leads to fear which always results in stocks plummeting in this downward out of control spiral. And so as a means of financial rescue, many are turning to gold as a sound investment and cashing out their seller financed notes of all kinds just to buy as much of the precious metal as they can. Who knows what the financial future of our country will be in the next few years? No one can tell for sure at this point. The only thing that is known is that the financial future our country will continue to be in a state of uncertainty.