Msg. 05510 of 54959 (This msg. is a reply to
05509 by
Cactus Flower)
Jump:
Remember, these same credit agencies stood by as Rome crumbled in 2008....
Originally they only wanted a clean debt ceiling lift, until they watched the mess going on in congress. Then they made other demands, cut the deficit.
Now, I think they are attempting to make themselves relevant, at Our peril. clo
When a downgrade happened with Japan in a similar situation, the market ignored it (this I read on Krugman, so assume it is so).
I fear the default rather than the downgrade. Yet S&P is driving the demand for massive cuts. I think that is a mistake and if we pursue it, we're on course for a really nasty double dip.
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