Saturday, August 13, 2011

Very Standard and Very Poor

The definition of structural (un)employment can be successfully elucidated as taking S&P seriously. They seem to lack the requisite skill set necessary to successfully execute themselves their job. WTF? You dissed America because we have a few loonies running the "hoochie coochie goochie" show in D.C.? So maybe we should invest in Greece, or Iceland, or Ireland or Estonia? Say, how about we just invest in ourselves?

Just a powder-puff followup from the good Dr. Krugman:
August 12, 2011, 3:45 pm

Downgrade Downgraded

A week ago, before the S&P downgrade, the interest rate on US 10-year bonds was 2.56 percent. As I write this, it’s 2.24 percent, with the yield on inflation-protected bonds actually negative.
You would think this would amount to strong evidence that the downgrade totally failed to shake confidence in US debt.

The S&P comedy seems to be the denouement of the Laurel & Hardy debt limit charade. This dissembling has become seriously un-amusing for many Americans.

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