Prudent Bear - Guest Commentary

Math Vindicates S&P Debt Downgrade

Their rating of U.S. debt is still too high and the downgrade came way too late.

In 2011, politicians of the U.S. and EU set their economies on a rendezvous with economic and financial disaster.

Despite gold being up 17% year to date, gold and other resources stocks have performed quite poorly in 2011.

Swapping dollars for euros does not present a worsening of U.S. finances, but should the euro collapse, U.S. taxpayers will be on the hook yet again.

The massive shift of debt from the private to the public sector may have dire long-term consequences.