Shocking: US Sunked from AAA to AA+

We had an exciting week last week. You should by now know that US is at risk of diving into a deep recession soon.

^ President Obama: Mmm… no more AAA? You must be kidding me.

Last Thursday we had our worst drop in DOW since 2008’s subprime mortgage crisis. The DOW went to the lowest of -8% before ending the week of bad news with -6%. When we Malaysian woke up on Friday, KLSE join the bear rush and ended the Friday with a -2% retreat.

^ Financial graph from Yahoo! Finances

America continued their Friday with rebounce only to be hit by another uppercut. Standard & Poor’s downgraded US credit card from brilliant AAA to AA+. Not just any AA+, its AA+ with negative outlook.

“United States of America Long-Term Rating Lowered To ‘AA+’ Due To Political Risks, Rising Debt Burden; Outlook Negative” – Standard & Poor’s official statement.

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