Oh, and as for that Downgrade...

Quick thoughts:

1)  Mega hurdle for Obama 2012 re-election bid.  This can and will be used against him in every venue.

2)  Geithner needs to go - for real.

3)  Over 75% of the Congress and Senate should be furloughed, fired, or tried for dereliction of duty and/or reckless endangerment.  Pink slips and/or judgments should be handed down by the people...for the people.

4)  Fed will be expected to become the shock absorber, again.

5)  Fed will ramp the debasement process, as a near-term "solution."

6)  If there are no other big name downgrades for nations in similar fiscal situations (think:  UK, France, Japan, etc.), we'll know that the wolves are circling the perimeter of the United States...and our independence will likely be challenged in the next decade(s).