Friday, July 22, 2011

S&P renews US debt warning


WASHINGTON (AFP) - Ratings agency Standard & Poor's warned Thursday that the fight over the US debt ceiling could exacerbate the global tensions arising from Europe's troubled economies.

S&P also reiterated that it could downgrade the US debt rating if politicians cannot reach a deal to raise the country's debt ceiling by August 2.

"We believe any additional stresses caused by a protracted standoff in the US would likely amplify already tense market conditions in Europe in light of significant fiscal imbalances in Greece, Portugal, and Ireland," the ratings agency said.


The Black Sheep tries to warn its friends with the truth it has seen, unfortunately herd mentality kicks in for the Sheeple, and they run in fear from the black sheep and keep to the safety of their flock.

Having tried to no avail to awaken his peers, the Black Sheep have no other choice but to unite with each other and escape the impending doom.

What color Sheep are you?