S&P downgrades US credit rating

[ShooterJM]

The debt ceiling issue was all political grandstanding. The downgrade has almost nothing to do with it, nor the evil bogeyman of "omigawdweregonnadefault!".

S&P has been warning publicly since April, and implying since before then, that a downgrade was imminent. They're actually the 3rd house to do it, but they are the first of the big 3. Politically they threw the WH a bone by doing it after close on Friday.

US downgrade will be followed by GSAs, States, Munis, large insurance companies, and large pension funds.

[spyder]

The debt ceiling issue was all political grandstanding. The downgrade has almost nothing to do with it, nor the evil bogeyman of "omigawdweregonnadefault!".

S&P has been warning publicly since April, and implying since before then, that a downgrade was imminent. They're actually the 3rd house to do it, but they are the first of the big 3. Politically they threw the WH a bone by doing it after close on Friday.

US downgrade will be followed by GSAs, States, Munis, large insurance companies, and large pension funds.

Saying something is going to happen is not the same as it actually happening. There are people saying that it should have happened a while ago but they were just being nice by not dropping it sooner. Talk matters somewhat, but actions matter most.