S&P Downgrades 15 Italian Financial Institutions, Says Country Faces Deeper Recession Than Previously Thought

It is Saturday here but in most of the rest of the world it’s Friday and that is when the really bad news is dumped. And this really is bad news. It is late in the afternoon on a Friday, which means one thing: it is time to dump all left over bad news under […]

On Standard & Poor, UK’s tripple A and Bully Boys or Why London Lives in LaLa Land

  Standard & Poor’s announced that the UK will keep their coveted triple A rating and while Chancellor Osborne, he of Bully boy fame, enthused about the announcement as the confirmation that the globe still had confidence in England after the disastrous 0.7 $ shrinkage of UK’s GDP here is why you might conclude that […]

Oh shit!!!

The United States lost its top-notch AAA credit rating from Standard & Poor’s on Friday in an unprecedented reversal of fortune for the world’s largest economy. S&P cut the long-term US credit rating by one notch to AA-plus on concerns about the government’s budget deficits and rising debt burden. The move is likely to raise […]