Please pass the hotsauce for my crow - US AAA rating
Well I'll be a monkey's uncle. I never thought the rating agencies would do it. But S&P actually pre-emptively lowered the US debt rating. I am beyond shocked. I didnt think they would do it unless the US actually defaulted as I haven't known the rating agencies to do anything pre-emptively.
S&P downgrades US credit rating from AAA
Granted I would have lowered the US's rating a long time ago and if it were up to me the US bonds would be barely investment grade, but this shows progress. I'm guess Moody's is next, then Fitch. But wow....I still need to recover from the shock.