Credit Ratings

the story:

Sept. 21 (Bloomberg)
". . . Italy’s rating was lowered yesterday by one level on concern that weakening economic growth and a “fragile” government mean the nation will struggle to reduce the euro- region’s second-largest debt burden. Italy was lowered to A from A+ with a negative outlook four months after the company warned of the risk of a downgrade. S&P today cut the creditworthiness of state-owned lender Cassa Depositi e Prestiti. . . Italy follows Spain, Ireland, Portugal, Cyprus and Greece as euro-region countries whose credit rating have been cut this year" -more

Credit Rating

The fun in drawing this cartoon was the writing of all those IOU notes.

I had so much fun writing the little IOUs, that trimming them to fit inside the cartoon frame would have saddened me. So I convinced myself that breaking the frame was "okay". In fact it made the cartoon "better" ...and hey, I'm the cartoonist! Nobody can tell me what to do!

So I had my fun! I wrote all those IOUs and just didn't stop ...like America.

Credit Rating

Living outside of the United States you tend to think of a lot of prices in U.S. Dollars. It's a stable international measure of value.

Living outside of the United States has now become a really good way to watch the fall of the U.S. Dollar. On our daily TV news shows, we are shown just how many Israeli Sheqels one Dollar will buy today. A stable Dollar and an American economic recovery is what we need. But what we just got was the news that Uncle Sam's credit rating has been lowered!

Yikes!

Changing times.
2011.