Poor Nation's Standard Almanac

Standard & Poor (S&P), who showed it was way too cozy with Wall Street in the near financial meltdown of just a few years ago, today said the Emperor might be becoming a bit nakey: Within 2 years, it remarked, the situation could deteriorate to the point where the US government bonds, etc. would be lowered in their quality rating from their present highest rating to something else. S&P said the outlook has gone from “stable,” to “negative,” and their detailed remarks show NO faith that the US fiscal process will show sanity or sustainability. Meaning, no sufficiently hard decisions will be made, and the problem kicked down Unsustainable Street for a little while longer, until the day of reckoning really arrives.