#Twoppics – Economy: Dow, Downgrade, Gold

Twoppics, taking a look at what people on Twitter are saying about the hottest...or lowest...economic stories of the day...

Audio clip:

When we say low...we're talking about the Dow.  Monday was a mini-massacre for stocks, dropping 635 points to close below the 11,000-mark.  FOX News Radio's @jeffmonosso with more, outside the New York Stock Exchange... Twitter is a mix of opinions on it all.  @delrayser wants to avoid the blame game...

and @ChrisJacobs70 doesn't understand why it isn't a bigger focus on Twitter...

The Dow certainly wasn't helped by the downgrade of the U.S. credit rating by Standard & Poors.  The nation's AAA-rating was dropped to a AA+ after the market closed Friday, giving investors time to digest the downgrade before markets opened.  President Obama stood by America's worthiness...

"No matter what some agency may say, we've always been - and always will be - a AAA country."

Twitter took note of the fact that despite the move, investors flocked to U.S. Treasuries.  @markos...

@anandmahindra...

...are talking about that side of the story.

So what else are investors finding a safe haven in?  Gold.  The precious metal has cleared $1700 per ounce, hitting its highest level since May 2010.  But gold trader Paul Sacks doesn't see it as a long-term investment...

"In the short-term, yeah, this is a huge rally.  Technically speaking, maybe it's overbought, maybe it's not.  The long term picture?  In spite of a debt ceiling agreement, in spite of an S&P downgrade, it's very, very bullish long-term for gold."

@AndrewWins doesn't care, he still wishes he had more of it...

While @wallacejnichols sees the economy as a no-win...

I'm @Chris_Hoenig and those are your hot #Twoppics on FOX News Radio.