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Friday, December 28, 2012
I Smell Another Credit Rating Downgrade Coming Soon...
With both parties in disagreement on reaching a comprehensive"Fiscal Cliff" deal that aggressively reduces government spending and raises taxes, and with the "Debt Ceiling Limit" about to be breached (and probably inflated to unimaginable, out-of-control levels), I smell another U.S. credit rating downgrade coming soon...possibly to ring in the New Year.
I think "government inaction/complacency/impotency with power turned over to the Central Bank" would best describe 2012...for most countries of the world.