In Business Monitor Online today, we carry two special features on Standard and Poor’s (S&P)’s downgrade of the United States’ credit rating to AA+ on August 5. In the first article, we answer the following questions: Why has the US credit rating been downgraded? What does it mean to be rated AA+ rather than AAA?… [Read more]
Yesterday, S&P affirmed its AAA long-term sovereign credit rating on the US, but revised its outlook on the long-term rating to negative from stable. Full coverage of this is available on Business Monitor Online, but here are my thoughts: This change in outlook, according to their methodology, implies a 33% chance that S&P will actually… [Read more]
It’s hard to believe how conditions have changed CEE, you’re acting a little bit deranged. Where once there were dreams of economic convergence We now have nightmares, of defaults and divergence. As growth turns to slowdown, and slowdown to recession I hesitate to look forward, for the likely depression. Ok, enough armchair poetry. Let’s get… [Read more]