Economy Stalling, Stocks Sinking, Gold Spiking

Downgrade! the Bloomberg special report was masterly handled by  the well-read, well-informed enthusiastic Tom Keene, as he tried to relate a complicated, fast-changing scenario to the ordinary American.  He opened with the coup of having Standard & Poor’s John Chambers, a key figure in the rate downgrade, explain in plain  terms his uneasiness about the rising debt to GDP and his awareness there was no political consensus to go “all the way” on the cuts needed.  For the hopeful, Chambers explained there have been 5 nations that ot their Triple A rating back in 9 to 18 years. He was handled with due respect, and thankfully there was no shouting. Tom Keene and his helpers were civilized. Nice.

http://blogs.forbes.com/robertlenzner/2011/08/07/economy-stalling-stocks-sinking-gold-spiking/