S&P just revised the outlook on U.S. debt to negative, but reaffirmed its rating on the debt, at AAA.
This is massive news, especially on a holiday shortened week.
People have talked about this in gesture, but no one ever, and I mean EVER expected this to actually happen.
The commentators on CNBC are besides themselves with the news, and are stumbling over their words as they try to put a positive spin on this.
Gold is rocketing on this news, and we could see $1,500 an ounce by the end of the day.
Time for the Democrats & the Republicans to really get their act together and do something.
Remember, there are 2 other ratings agencies, Moody’s and Fitch. Usually when one ratings agency acts, the others follow suit.
