Seems to me, yesterday's downgrading of US debt from "AAA" to "AA+" by the Standard & Poor rating agency is a bit akin to my own credit rating being downgraded by Transunion, or Experian. At any rate, it's gonna make it a bit tougher for the US to borrow now, maybe; and funds mandating "AAA" status only will have to be moved into something less... junky, perhaps. I don't know. The whole thing eludes true understanding on my part.
Next week should be interesting, to say the least. Either The Powers That Be (TPTB) have already orchestrated a pleasant regimen of market smoke-and-mirrors, or it will be a complete clusterfuck; or, maybe somewhere Inbetween. I suspect the latter. We'll see. I'll be watching Asian markets when they open tomorrow evening... as will much of the rest of our tottering civilization.
Welcome to the future, boys. Wassail.
Next week should be interesting, to say the least. Either The Powers That Be (TPTB) have already orchestrated a pleasant regimen of market smoke-and-mirrors, or it will be a complete clusterfuck; or, maybe somewhere Inbetween. I suspect the latter. We'll see. I'll be watching Asian markets when they open tomorrow evening... as will much of the rest of our tottering civilization.
Welcome to the future, boys. Wassail.
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