Despite Government propaganda and manipulated statistics to the contrary, our economy continues to deteriorate. For every "green shoot" highlighted by the Government and its lackey media, multiple contra-examples are cited by independent analysts.
To continue to deny reality risks credibility. Perhaps that is why S&P, arguably a sock-puppet of Wall Street, on Monday made its announcement regarding the financial condition of the US. As reported by the Wall Street Journal:
Standard & Poor's Ratings Services Inc. cut its outlook on the U.S. to negative, increasing the likelihood of a potential downgrade from its triple-A rating, as the path from large budget deficits and rising government debt remains unclear. (MORE)
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