It's scary, but consider this -- every thing you own is tied to that rating. If US bonds ever became worthless, everything you have that you can't barter would also become worthless. So what's the point? The government's rating can never be less than "AAA" compared to every other investment, regardless of how close to the edge we dangle.
So what are you going to do? Invest in English bonds? How does that help, unless you're in England with your English bonds? Because if they're held in a US brokerage when it goes under, along with the SIPC, you're never going to be able redeem them!
I'm glad that somebody occasionally calls "BS" on the FED that seems to be determined to finance our destruction with fake money, but they downgraded Treasuries a few years ago, when the national debt was a fraction of what it is today. Did it fix anything?
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