Monday, August 08, 2011

US Enemy No.1

Hey, pretty good finger on the pulse would you say, my recent posting? Seems over the week-end the Standard and Poor's pronouncement to lower their US credit rating has become the number one news story. They are now a target as they propose the economy gets worser and worser (yes I know, my blog readers in Russia, China, Yemen and beyond will wonder about my grammar). In reaction to the market free fall to-day, Monday, President Obama has quoted Warren Buffet as saying if a quadruple A rating existed, the US would be the sole possessor. Talk about two different narratives. Apparently S&P were giving Lehmann Brothers a Triple A rating right up to the day they crumbled, so who do they think they are anyway? Perhaps though, here’s a thought, they are the only ones saying it as it is.