Total LACK of news after downgraded dollar last Thursday

I'm mainly posting this because I find it rather peculiar that after the WSJ announced the US credit rating was downgraded last Thursday, there has been a complete blackout of the repercussions. Not even the alternative news sources have dug up anything significant.

What's the deal?

The downgrade was done by an ``unrecognized`` (read corrupt) rating agency in Florida.

The ``only ones`` that count (even if they are utterly corrupt) are SP, Fitch and Moody.

reply to post by Vitchilo


you already know that agency was on the right track, its only a matter of time big agencies will downgrade american debt.

S&P has already commented

Outlook

The negative outlook on our rating on the U.S. sovereign signals that we believe there is at least a one-in-three likelihood that we could lower our long-term rating on the U.S. within two years. The outlook reflects our view of the increased risk that the political negotiations over when and how to address both the medium- and long-term fiscal challenges will persist until at least after national elections in 2012.

S&P Forecast

The US dollar is still sliding but demand for gasoline and oil will probably start falling off soon with these high prices. You still see a lot of SUV's out with a single driver and no passengers so I guess it hasn't got that bad yet. Unless there is some major oil production crisis or false flag event this rally won't make it into summer months. They will be putting a bottom in on the dollar soon hopefully without expanding the range too much.