Safe to say you let a few things slip through the cracks over the weekend – your driver’s license, your mother’s birthday, “weekend needs” from the boss. So you’re feeling a little out of touch. Confused. Vulnerable.
Your first order of business: hire a personal assistant for the day. Your second order of business: ask yourself these questions, study the answers, take a deep breath and prepare to reenter society…
Q: Can you believe S&P downgraded America’s credit rating for the first time in history?
A: After reading today’s editorial in the Wall Street Journal, well, yes. “Is there anything that Standard & Poors said on Friday that everyone else doesn’t already know?” At the same time, we’re with Krugman: S&P should hardly be considered an authority given all that went down in 2008. We also find it hard to believe that Liechtenstein, Guernsey, and The Isle of Man – all of which have AAA ratings – are better bets than US Treasury Bonds. Where’s Hugh Carey when we need him?
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