Yesterday, I happened to be listening to a financial program and, like all things finance, they were addressing the S&P downgrade of US treasury's.
What I didn't know, before Friday's downgrade, there were 13 companies who had corporate bond yields lower than comparable US treasuries. (I'm still looking for some sight that might have that information).
What does that mean? It means that the market place had already decided that US treasuries were already perceived by the money guys as more risky than some of those loathsome corporations.
So the Obamunists can bitch and moan about the downgrade being political. But as I always say. I'm not the smartest guy in the room so I watch what the smart guys are doing and they're not buying up US treasuries and they had already downgraded US debt prior to Friday.