S&P Cuts Greece Ratings To Junk! Portugal Lose Sovereign Status!

S&P Cuts Greece Ratings To Junk! Portugal Lose Sovereign Status!

It looks like we may be seeing the next wave in the collapse. Standard and Poor lowered Portugal sovereign status from an "A+" to an "A-" while putting Greece's rating in the junk pile. The markets didn't react very well to that. The Dow lost 200 points, but frankly I don't care about the stock market. I'm more concerned about the standard of living for the average Jane and Joe.

S&P cuts Portugal's sovereign ratings to 'A-/A-2'
http://www.marketwatch.com/story/sp-cuts-portugals-sovereign-ratings-to-a-a-2-2010-04-27-114570

S&P Cuts Greece Ratings To Junk, Markets Slump
http://online.wsj.com/article/BT-CO-20100427-716153.html?mod=WSJ_World_MIDDLEHeadlinesEurope