Friday, August 5, 2011

downgrade


This is an amulet お守り that I bought at Ise-jingu.

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... The ratings agency "Standard & Poor's" downgraded U.S. debts.
That means that this company lowered the rating of U.S. bonds from AAA to AA+.
The best rating is AAA (Triple A).
The second best rating is AA (Double A).
The third best is A.
Anything lower than A could be called B, but it is really junk.

And the stock markets are going down.