Villains of the downgrade

I see two bad guys here. First, Senate Minority Leader Mitch McConnell. After last week’s shenanigans, he made it clear that the Republican Party thought last-minute debt-ceiling brinkmanship was peachy keen: “What we have done, [interviewer] Larry [Kudrow], also is set a new template. In the future, any president, this one or another one, when [...]

Thoughts on the downgrade

Are you really surprised? AAA debt is supposed to be the ultimate sleep insurance. You park your money there and don’t have to ever worry about it. You don’t have to think about it. It is completely, unquestionably safe. If you didn’t feel that way last weekend, you agree with S&P. At the height of [...]