* This is a bit off topic, but as a casual golfer/watcher and economic nerd I think it’s an interesting topic. | Pragmatic Capitalism
It’s now been one year since Standard and Poors downgraded the debt of the USA from AAA to AA+. If you recall, many pundits were saying this would be an earth shattering event and that it was a sign of much bigger problems to come. Some even said it could cause a Eurostyle debt spiral in the USA where bond vigilantes attack and yields surge causing a funding crisis and even a potential default. But what’s actually happened? As you can see in figure 1 below yields have actually con...| Pragmatic Capitalism