Saturday, August 06, 2011

US Credit Rating Cut

As if this were a surprise, rating agencies have cut The United States' credit rating for the first time ever. From AAA to AA+.

What this means is that less people will want to hold USD anymore.

And this means we're probably headed for another global meltdown. A slower one this time, but still a meltdown nonetheless.

I think all this have been calculated positions all along by the US government. So don't be surprised if things get even worse before they start getting any better.

Are interest rates going to start rising from here?

The return of volatility may be a good thing for me though. :)

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