The Game-Changer
S&P downgrades US outlook to ‘negative’. The first salvo in a long line of inexorable credit downgrades in store for America as the country refuses to address its problems. Consequences of the end of QE2: immense volatility, fall in confidence – and related consumer spending. Americans losing faith in capitalism. Europe’s problems getting worse. The inevitable destruction of the euro. Runs on European banks to be expected. Bill Black’s experience with systemic fraud protection. Best places to live outside the US.