Warren is talking his banking bullshit again this weekend. He thinks a downgrade is not anything to fear because we can print money and so he has upgraded the USA to AAAA. That’s just what a banker would do.
As I always say – ‘Punch a Banker, Hug a Developer.’
The downgrade is expensive. He owns the other ratings agency that truly is worthless and so I guess he knows a little something about the nuances and importance of ratings agencies, but he for sure knows the collateral damage costs of a downgrade.
I know what it costs to get a credit downgrade. I just bought a house and found out that parking and speeding tickets as well as fights with bullshit healthcare bills add a shit load of time and cost to the borrowing process.
I have a feeling that there will be a few costs associated with this downgrade as well.
For some good depth on the S&P downgrade, not pith, head over to the Stocktwits Blog Network and spend some quality time. You will not be disappointed.
I am not sure what I will buy or sell tomorrow, if I buy likely some more $amzn and $rax and selling some $spy put premium. I am working up a bit of a gameplan in between naps (that’s what Warren does).