S&P Cut Proves Absurd as Investors Prefer U.S.
By Zeke Faux and John DetrixheFour months after Standard & Poor’sstripped the U.S. of its AAA credit rating and said the world’s biggest economy was no longer the safest of borrowers, dollar-denominated financial assets are doing nothing but appreciating.
Comment: We live in a world where the greatest liars believe in their own lies. Financial markets - once the guardians of truth expressed in sound judgement - has become a ship of fools where ignorance and bad moughing rules and those who speak loudest but know less are called the smarties. Of course, this will not last. It never has. The fools are so much on their game that they probably only wake up when they are already drowning when their ship broken beyond repair.