On the Evening of the S&P Downgrade of the United States of America
Here’s an oldie but goody that shows my immediate response to the S&P downgrade nonsense. I got on set with Tom Keene at Bloomberg about an hour after S&P released their rating and we did a completely impromptu show that night for nearly 90 minutes. As it turned out, what I said about the action being “meaningless” was an understatement, given the voracious appetite for U.S. government debt shown since.
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