The convenient fiction that the U.S. is worthy of a “AAA” credit rating continues: S&P Cuts U.S. Ratings Outlook to Negative. How long can Uncle Sam dog-paddle in a sea of red ink? (Thanks to M.E.W. and several other readers for the link.)
Deborah B. sent this: U.S. Taxpayers on the Hook for Portugal Bailout
Items from The Economatrix:
Builder Outlook Falls Ahead of Spring Season
Poll: US Economy Improving Despite Global Events. (If they sprinkle around enough hundreds of billions in quantitative easing funny money, it has to have some impact on the economy…) temporarily.)
Morgan Stanley Defaulted On Loan And Walked Away From Commercial Office Building In Japan (This is a good indication of what the outlook for Japan’s future really is.)