by Mike Norman
Haven’t we seen this movie before?
Remember when the idiots at S&P downgraded the U.S. credit rating in 2011? I was on TV that morning and was pounding the table telling people to buy Treasuries.
Now you have the same idiot, S&P, plus a new idiot, Fitch, downgrading Britain’s credit rating because of Brexit.
Hey you morons at the credit rating agencies…a sovereign nation that spends in its own currency and where all its obligations are denominated in that currency cannot become insolvent. There can never be an inability to pay its debts.