Shooting the messenger with a double barreled gun

Gold Investment - 22 August 2011

The credit rating downgrade by Standard and Poor (S&P) might have confused the markets, however the pundits feel pretty certain about this action. All over the investors market, the feeling about this is one of dismay and shock. Many celebrities feel that this is a crime and that President Obama must now step up to the plate and display some courage.

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Controversial film maker Michael Moore is of the feeling that the credit rating agencies must be arrested due to the credit downgrade. Moore blames the economic crash of 2008 on Standard and Poor and other credit rating outfits, because at the time mortgage based bonds were not downgraded. This mistake meant that a housing bubble would occur and this in turn affected the rest of the economy.

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Invest in precious metals today! Contact us for details.

For the first time in American history, America has an AA+ credit rating instead of AAA. Moore reports that S&P are old friends of the Bush family and he feels that capitalism serves only those who are rich and are on Wall Street. Many other corners agree with Moore and feel that this move is a blunder of immense proportion.

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