Wednesday, August 10, 2011

Cash will be king

Yikes! I'm starting to think that anyone who has any money left should be purchasing a mattress with deep pockets. Watching the volatility of the markets after the downgrade of the USA government credit rating from its triple A standing to double A is just scary.

Although a downgrade in our city's rating would not affect the markets, I hope our Council is watching as to the reaction of lenders to a downgrade. Then again, I understand that the formula for setting the credit rating is going to change which might prevent such downgrades. But debt is debt.

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