Isnt Austerity News Today : Breaking News, Live Updates & Top Stories | Vimarsana

More fragile than we thought? >> matt, if you look back to -- hark back to when standard & poor's cut the u.s. credit rating in august, and everybody was worried, and it was a nonevent. our interest rates that the government pays are actually lower than they were before the downgrade, which is counterintuitive. the stock market is probably higher or about the same. so i think the credit rating agencies can inflict short-term pain, but long-term other forces are more powerful. and again, yes, i do see these kind of continuing problems coming up. you know, italy may have a bad bond auction and t...

More fragile than we thought? >> matt, if you look back to -- hark back to when standard & poor's cut the u.s. credit rating in august, and everybody was worried, and it was a nonevent. our interest rates that the government pays are actually lower than they were before the downgrade, which is counterintuitive. the stock market is probably higher or about the same. so i think the credit rating agencies can inflict short-term pain, but long-term other forces are more powerful. and again, yes, i do see these kind of continuing problems coming up. you know, italy may have a bad bond auction and t...