Even though I predicted it had to happen at some point because of the Bush-Obama spending binge and America’s giant long-run entitlement crisis, I confess that I’m somewhat surprised that the United States has suffered a debt downgrade for the first time. That being said, I don’t think the downgrade will matter. Everyone knew the […]
read more...Here’s another news appearance from my new youtube channel. I chat about the importance (or lack thereof) of a possible ratings downgrade for the United States government. You’ll see that I’m not overly impressed by Moody’s and the rest of the rating agencies.
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