Poor Standards Of Evaluation

Standard and Poors downgraded America’s rating because it miscalculated the deficit by using the wrong baseline… The future deficit was actually within the target they themselves had previously set…

FAIL

Standard and Poors chose to ignore their error, and downgrade the debt anyway. They cited an impossible gridlock in Washington in which nothing could get done… Uhh, hello? I believe a compromise debt ceiling bill was passed and signed by the president… Yes, of course there was posturing. But an agreement did get signed……

FAIL

Third, since their downgrade, investors have flocked to Treasuries, dropping their yield ( a good thing) simply because they are a good thing… Apparently when it comes to their own money, investors can see the US is still the safest place to keep one’s money….much, much, more safer than the AAA+ of Switzerland, Germany, Norway, and Australia. …. Huge miscalculation on the part of Standard and Poors… Again.

FAIL

Three major FAILS? Standard and Poors is now rated FFF-.. one for each FAIL….

Time to change their name to Poor Standards….