For those who are (inexplicably) shaken by S&P’s downgrade of the United States last week, and who only want to own debt of sovereigns with AAA ratings, here you go:

And don’t feel bad if Guernsey sends you to the CIA Factbook…it sent me there, too.

In finishing this up, I’ll note that the 10-yr US Treasury is ripping this morning, trading as I write at 2.40%.  I guess the talk around the water coolers at S&P must be something like:  “WTF?  Don’t they believe us?”  Answer:  No, S&P, we don’t.  And thanks for all your help circa 2005-2008 enabling the crisis in the first place.  That won’t soon be forgotten.  Nor will the defense of Lehman right up until the end.

This post originally appeared at The Big Picture and is reproduced here with permission.

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