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US DOWNGRADE AND ASIAN MARKETS

The real danger from the downgrade of U.S. government debt by Standard & Poor’s isn’t higher interest rates. It’s the hit to the nation’s fragile economic psyche and rattled financial markets.

S&P’s decision to strip the U.S. of its sterling AAA credit rating for the first time and move it down one notch, to AA+, deals a blow to the confidence of consumers and businesses at a dangerous time Continue reading →