Moosey,
When you say "they knew" I think you're attatching too much intelligence to them.
They have right royally rogered the US. Unfortunately, they have taken the rest of us with them.....as you said.
Downgrade of their credit is inevitable.
Watch for the (already) rise of China. Probably to the top of the pile. The US already has their balls in China's hands to the tune of US$2Tr. And you don't reckon that China's going to squeeze the bejeezus out of them? It's already on and has been for 10 years.
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