Some Credit Rating Truthiness…Not From Warren Buffett

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).


  1. David Schawel says:

    Nice post, but you do have something in common with him:  you both allocate your full daily carloric intake to hot fudge sundaes

  2. El Secreto says:

    Sure enough Warren Buffett knows what he is doing, Owning the other rating agencys, he has plan something really big seeing what was coming…

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