Re: “Moody warns of downgrade” (TNT, 9-12).
My first action after reading the article was to send a letter to each of our members of Congress asking them the question, “Is this what you want to happen?”
If you thought the recession following the downgrade by S&P in 2008 was bad, beware of the one following a downgrade by Moody’s.
But I really must take issue with the reporter who referred to the recession of 2008-2009 as the “Great Depression.” The real “Great Depression” occurred during the 1930s. I know. I lived through both, and there is no comparison.
Compared the 1930s, this last recession – and we aren’t out of it yet – was a piece of cake. Another downgrade now would certainly take us back to the situation of the real “Great Depression”!