us credit downgrade implications for ssn?, page-20

Very good article on various countries' perspective on the S&P downgrade on Bloomberg:

http://www.bloomberg.com/news/2011-08-06/asia-central-banks-set-to-stick-it-out-with-u-s-treasuries.html

Imo of all the factors affecting global markets right now, the S&P downgrade will prove to be the least influential since it's only stating the bleeding obvious and it was flagged by S&P and expected by many (although the suddenness probably surprised some). Far more important is how the ECB and eurozone governments deal with Spanish and Italian debt right now, and for the medium term whether they find the right mechanism to manage their way through to recovery without any defaults. Also more important is for the US legislators to demonstrate they can work together in a more bipartisan manner to navigate a course to recovery without dipping into recession again and without blowing out their debt in an unmanageable way. Not easy.

I've commented on a different thread about what factors I view as important in relation to whether SSN weathers the current global economic storms well - I think it's destiny is largely in it's own hands. Not exactly a safe-haven blue chip (and let's not forget many of those are taking a pounding too), but as safe as there is for a small cap oiler. Would we be safer in cash - sure - but I for one do not want to cash my position in and be holding cash when the Evergreen rig starts drilling Defender.

And Fitza, you could have just asked the question without the additional and unnecessary commentary, it just took someone to ask the question.

Cheers, Sharks.