A double recession

An economic debacle has clouded the US for years. This week, it was exacerbated so badly by the deal that Congress and Obama negotiated to raise the artificial "debt ceiling" that the US lost its AAA credit rating from S&P. Thank god the Tea Party was there to at least declare that way lies madness.

Stock markets around the world tanked up to 10% in the last week due to US political shenanigans and European debt problems by some of the needier EU countries such as Greece and Portugal.

I am grateful the S&P pulled the plug on this madness before the US creditworthiness became as bad as their AAA rated credit derivatives that bashed the world economy in 2007.