Friday, January 28, 2011

"Japan Stung by Credit Downgrade"

Dear Reader, In a stunning development, The Wall Street Journal reported that Japan's debt, long holding the coveted triple A rating was downgraded Thursday by S&P to Double A. The reason is the government lacks a "coherent strategy" for dealing with its skyrocketing debt.
http://online.wsj.com/article/SB10001424052748704721104576106821451581998.html

I view this as a warning to the U.S. government, which also lacks a coherent strategy for dealing with its skyrocketing debt.

Dick

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