Credit agency Moody’s downgraded the nation’s ability to repay its debt — sparking calls for George Osborne to quit.
The UK has held its cherished AAA status since 1978 and Mr Osborne had repeatedly insisted it was proof the Coalition was conquering the debt mountain.
And then there were 13 (nations left with AAA rating).
Where the UK goes the US is soon to follow into the abyss of destruction.
Although Obama made a preemptive strike by suing Standard and Poor’s, if the sequester is thwarted by a compromise involving higher taxes ans cuts down the road, there will be a second down grade.
The writing is on the wall but Obama is blind to that reality.
He has no control over the markets and the various forces pushing and pulling and controlling.
“... which is fiercely proud of its historical position on the world stage and keenly attuned to signs of its diminishment.”
Yeah, we used to live in a country like that, too.
When we got downgraded, the people just shrugged and the president — surprise, surprise! — blamed everyone outside his administration and tried to kill the messenger.
Depressing, to say the least.