Wednesday, February 8, 2012

Next U|S downgrading ahead

U.S. Faces Downgrade If No Plan: Chambers

The U.S., lacking a plan to contain $1 trillion deficits, faces the prospect of another rating cut in six to 24 months depending on the outcome of November elections, according to John Chambers of Standard & Poor’s.
Comment: Rating agencies are not prognosticating agencies, they rather trail the facts, which in this case means that the US situation is much worse than the next downgrade would indicate.

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