Bank of America : America will get downgraded again in a few weeks

They are probably right... since nothing has been done since August. Fact is, the US should have been downgraded a long time ago. And way more than one notch.

Monster Prediction From BofA: Another US Debt Downgrade Is Coming In Just A Few Weeks

In an analyst note, Bofa/ML Ethan S. Harris drops a bit of a bombshell prediction:

We expect a moderate slowdown in the beginning of next year, as two small policy shocks—another debt downgrade and fiscal tightening—hit the economy. The “not-so-super” Deficit Commission is very unlikely to come up with a credible deficit-reduction plan. The committee is more divided than the overall Congress. Since the fall-back plan is sharp cuts in discretionary spending, the whole point of the Committee is to put taxes and entitlements on the table. However, all the Republican members have signed the Norquist “no taxes” pledge and with taxes off the table it is hard to imagine the liberal Democrats on the Committee agreeing to significant entitlement cuts. The credit rating agencies have strongly suggested that further rating cuts are likely if Congress does not come up with a credible long-run plan. Hence, we expect at least one credit downgrade in late November or early December when the super Committee crashes.

Shall be interesting to watch...

In August :
Bank of America : we expect another downgrade of the US in november

S&P : Another downgrade is coming if nothing is fixed in the next 12-18 months

Thread already started here: www.abovetopsecret.com...

Also now being reported on Reuters:

U.S. rating likely to be downgraded again: Merrill