S&P officials defend US credit downgrade

i”SP officials say they came to a reasoned conclusion that the United States will have difficulty getting its soaring deficits under control.”/i

What does “under control” mean? Does it mean the U.S. government will be unable to service its debt? No, a Monetarily Sovereign government has the unlimited ability to service any debt denominated in it sovereign currency.

So what does it mean? Not a damn thing, other than SP economists (are there any?) have no idea what “Monetary Sovereign” means. If you would like to know more than SP, read: http://rodgermmitchell.wordpress.com/2010/08/13/monetarily-sovereign-the-key-to-understanding-economics/

Rodger Malcolm Mitchell

Article source: http://www.cbsnews.com/stories/2011/08/06/ap/business/main20089074.shtml

Related Posts