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1.Market Observations

28 July 2011 – Thoughts turn to the unthinkable: a downgrade

(28 July 2011, AFR, p13, Julie Cresswell, New York)

“Economists and analysts are trying to gauge the costs to the United States economy and consumers if the US loses its solid-gold credit rating.

“Some economists say the effects of lowering the federal government’s credit rating to AA from AAA could be measured in the billions of dollars in increased borrowing costs for the government, and in the billions more that consumers, corporations, states and municipalities would have to pay for their credit. It could also erode consumer and business confidence, slowing the economy and job creation.”

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