Why S&P's Downgrade Means Diddly-Squat

ROCKVILLE, Md. (MarketWatch) — After the Standard & Poor’s downgrade of U.S. debt, America now carries a rating of AA-plus instead of the coveted AAA rating on its Treasury bonds. Austria, Norway, Germany and Australia are no longer our peers ratings-wise — we are, instead, in the company of Japan, China, Spain, Taiwan and Slovenia.

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