Moody's and the US credit - 12:02PM

Moody's says U.S. triple-A sovereign rating stable - MarketWatch SAN FRANCISCO (MarketWatch) -- Moody's Investors Service said Wednesday that even with a significant deterioration in the U.S. government's debt position, its rating has a stable outlook and demonstrates the attributes of a Aaa sovereign. The ratings agency cited the U.S.'s diverse and resilient economy, strong government institutions, high per capita income, and a central position in the global economy for its stable outlook. "Moody's expects that, because of these factors, U.S. economic strength will emerge after the crisis without major impairment," said Steven Hess, Moody's vice president. "The global role of the U.S. currency also contributes to the ability of the economy and government finances to rebound." However, going forward, "contingent liabilities" related to Social Security and Medicare could pressure the rating, Moody's said.

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Ok, sure, whatever. Two questions, 1)why would anyone believe Moody's, 2)Who told them to say this? Moody's, Fitch's, and S&P rating agencies are notorious to issuing reports long after everyone else knows the scoop. This is no different. What a JOKE! The United States is broke, and we don't deserve a AAA rating.