This is the same credit rating agency that gave a AAA rating to sub-prime backed mortgage secutities. Their rarings are to please the banks. Why do the too big to fail banks want to lower the US credit rating?
The only plus side to this whole debacle is that my $70k+ school loans can be paid off for pennies on the original dollars loaned to me :). A few loaves of bread worth of freshly printed Fiat money should do the trick.
My concern preserving what I have... Not sure if gold and silver do it or not, though I feel better vs hanging on to us currency.
Have been ready a lot on other countries not wanting to lend or want to use US currency at the global currency. If China and others decide to use something other then our currency as the standard, the US is screwed. We will be paying 20 bucks for a loaf of bread. If it comes to that, what is the safe haven, buy gold silver and bring it home? SLW. SLV, GLD, GG? or combination?
I like good solid stocks that pay dividends, but is the dividend is not worth much. I suppose you can be in CVX, XOM, HGT, SJT oil and gas for value.
Any ideas on how you cover yourself if shi_ hits the fan?