Welcome Instapundit readers. Thanks, Glenn.
After reading below about Argentina’s decline, several people have emailed to ask how Chile compares. Ask and ye shall receive. This post from last month shows shows Chile, Argentina, and Venezuela. Very powerful, which is why I gave the post such a grandiose title.
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There’s been a lot of coverage of the recent decision by Standard & Poor to warn that the United States has a “negative” outlook.
As Joe Biden would say, BFD. I’m stunned that anyone would care, particularly since the rating agencies have zero credibility. These clowns completely missed Enron. They missed the collapse of Europe. They blew it on the financial crisis, especially with regard to the corrupt government-created mess at Fannie Mae and Freddie Mac.
The fact that one of the rating agencies belatedly warns that America is heading in the wrong direction should elicit only one response…
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Utopia, you are standing in it! 
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