[quote=Veritas]”Moody’s cut Ireland’s sovereign rating by two notches to the verge of junk status on Friday and kept its outlook on negative, pushing the euro lower and adding to renewed pressure on the euro zone’s weaker countries. The move sent Ireland’s borrowing costs up and cut short a rare spell of good news after the government said on Thursday it had passed a review of its economic progress by creditors and ratings agency Fitch upgraded its outlook.” http://macedoniaonline.eu/content/view/17969/52/
Is the dollar next to turn to junk?[/quote]
Good question. It can go either way, at least for a short while, IMHO. Either our debt goes to junk status, or the USD becomes a safe-haven while the Euro crashes. I just don’t know of another currency that can carry the burden if the Euro fails. Yen, or renminbi? Unfortunately, most people can’t get significant quantities of the renminbi, and not sure how the yen will fare as Japan deals with its crisis.
Wish I knew the answer, as we’d be on our way to retirement! 😉
