Buffett to FBN: S&P Downgrade 'Doesn't Make Sense'

> "Think about it. The U.S., to my knowledge owes no money in currency other than the U.S. dollar, which it can print at will. Now if you're talking about inflation, that's a different question."

This is really disingenuous. If we could ignore inflation then no country would have credit problems. In fact no country would need to borrow money in the first place.

Paul Krugman has it right, the S&P is in no position to judge after all its mistakes: http://krugman.blogs.nytimes.com/2011/08/05/sp-and-the-usa/

My take is I give the S&P two middle fingers up, WAY UP.