Quote of the Day

“Fear is contagious and spreads quickly; confidence is fragile and only returns gradually and over time.”  Warren Buffet

Wealththow comment: Standard & Poor’s actions can only undermine weak confidence and raise uncertainty.  It has created what Keynes called irreducible uncertainty.  We can have no idea of the consequences of Standard & Poor deciding the risk-free assets issued by the country that occupies a unique place in the global economy may not be risk free after all.

Duncan R Glassey
Senior Partner – Wealthflow LLP

duncan.glassey@wealthflow.com

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