Another huge “down day” on Wall Street. Today’s excuse? The S&P credit rating drop. Everyone keeps saying S&P made a huge miscalculation and that America’s credit rating is still AAA. How can this be? We have a deadlocked government, two wars, a faltering global economy, and a hopeless unemployment situation.
But there is one thing that everyone, besides S&P, seems to agree on; that America is still a AAA credit bet. I believe in staying positive and moving forward and holding strong and all that, but at some point, when will we face reality?
The reality is things are not good. And nobody is able to do anything about it. Now, why should a credit rating agency ‘pretend’ along with the rest of us, that everything is fine. I think it’s time to stop pretending, hoping, and praying, and start doing something about it.
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