Some videos new and old which may provide some perspective on the recent downgrade of America by Standard and Poors and the current market thrashing.
I could attempt to write something eloquent but I'm busy right now. Instead I'll refer you to some successful investors voicing their opinions.
Chanos talking about credit ratings versus CDS rates
Gundlach on how the US will never not pay its debt, it just may pay its debt back with devalued currency
A series by Hugh Hendry from late last year which I don't believe I have published before. Considering the current market thrashing I think the discussion is important.
part 1: http://youtu.be/zvzKgjaVnlE
part 2: http://youtu.be/MJSO3H4GLqw