In Praise of Timely, Blatant Incompetence | Mike Shedlock | Safehaven.com

Many are in shock that the S&P downgraded debt of the US from AAA. Not me. It was long overdue.

However, the S&P proved it was incompetent in the way it made the downgrade. Pray tell how can a rating agency make a $2 trillion error? The answer is obvious: sheer incompetence.

The irony is Moody’s and Fitch proved they are incompetent by not downgrading U.S. debt.

via In Praise of Timely, Blatant Incompetence | Mike Shedlock | Safehaven.com.

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