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Lest We Forget…

January 13, 2012

Happy Friday, everyoneHappy, happy, Friday…  From Veronique de Rugy:

Tyler Cowen had just e-mailed me about the probability of an imminent downgrade of France when this Wall Street Journal alert arrived in my mailbox:

Standard & Poor’s could announce downgrades in the credit ratings of a number of European governments as early as Friday, said two people familiar with the matter.

Well, what fun for the morning.  This is mostly just inevitable, but it’s going to roil the markets a bit.  At least doing it on a Friday will give the markets time to think about long-term panic over the weekend so they can cool.  This is likely beneficial, because a good weeknd of hard drinking in NY usually keeps the markets from really hurting (though medical and therapy bills correspondingly go up).

At least the early reports have other mixed news that might blunt the impact.  I had to carpool early, so I missed my normal early AM business programs.  If I get a chance I’ll check back later on it.

And if you’re wondering if this was mostly a filler post to maake up for the fact that I’m on temporary boycott from dumb primary analysis… you got it.

Updated:  Yep, it happened.  The banks should be pulling out the gasoline and matches in a few minutes.

One Comment leave one →
  1. January 13, 2012 3:40 pm

    The shame of France having higher rating than the US is finally over!

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