Sunday, August 7, 2011 at 10:36 pm (Updated: August 7, 11:05 pm)
Standard & Poor’s lowering of the United States’ credit rating for the first time in history is a sign that America is in decline. The reasons are obviously economic, blatantly political and, to an extent, voluntary.
Of course, it doesn’t have to be that way.
The consequences of the S&P downgrade will be higher interest rates, which will result in direct hits to the housing market and new car sales.
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