Dec 26th 2011, 23:03 by The Economist online
The European Central Bank offers a boost, the US has a surprisingly good fourth quarter and Congress tries diplomacy
In this blog, our Schumpeter columnist and his colleagues provide commentary and analysis on the topics of business, finance and management. The blog takes its name from Joseph Schumpeter, an Austrian-American economist who likened capitalism to a "perennial gale of creative destruction"
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Here is an article that outlines a far more pragmatic rating system for sovereign debt than that provided by S&P, Fitch or Moodys:
http://viableopposition.blogspot.com/2011/12/united-states-and-canada-mo...
In this rating system, the United Kingdom, Canada and the United States rate a very modest and realistic C, similar to most Eurozone debt transgressing nations. Perhaps it is the lack of a debt downgrade to more realistic levels that has prevented Congress from taking meaningful steps to resolving the debt and deficit issues.