U.S. Government Debt Downgraded by S&P. What a Farce. And Non-Issue.

Yesterday after the U.S. markets closed, Standard & Poor's downgraded their credit rating on U.S. government bonds.  Previously, the U.S. government had enjoyed for over 70 years the highest possible rating:  AAA.  Now it is "only" going to be AA+.  We should note that the other two major bond-ratings agencies, Moody's and Fitch's still rate … Continue reading U.S. Government Debt Downgraded by S&P. What a Farce. And Non-Issue.

No, Sovereign Currency Nations Don’t Go Bankrupt

National debt continue to dominate economic and political talk. This week Moody's bond rating agency downrated Japan's national government debt. The Serious People and Talking TV Heads will be full of dire prognostications for Japan. Of course, I don't see why we should believe Moody's or S&P anymore after they reassured us for years that … Continue reading No, Sovereign Currency Nations Don’t Go Bankrupt