>>The good news in his 68-page report on Sovereign Debt Problems in Advanced Industrialized Economies is that, on the whole, governments won’t default. The bad news: Most will have to embark this year on five or 10 years of severe fiscal austerity.
>>...
>>These sovereign debt problems are “the logical final chapter” of a classic ‘pass the baby’ game. As they defaulted on mortgages and other personal debt, excessively-indebted households passed some of their debt back to their creditors, the banks. The banks, themselves at risk of default, passed their debts to governments. And now over-indebted governments are passing the debt back to households, in the form of higher taxes, lower public spending, the risk of default or through inflation.
>>
>>http://blogs.wsj.com/brussels/2010/04/27/the-death-of-the-aaa-sovereign/
>>
>>Today's Financial News
>>=================
>>Portugal is downgraded 2 notches
>>http://online.wsj.com/article/BT-CO-20100427-713789.html?mod=rss_Bonds
>>Ireland may face a bailout soon
>>http://www.herald.ie/national-news/ireland-may-face-bailout-by-imf-warns-us-expert-2153945.html
>>Italy?
>>Greece debt is now junk
>>http://www.businessweek.com/news/2010-04-27/greece-cut-to-junk-at-s-p-as-contagion-spreads-through-europe.html
>>Spain is feeling Greece and Portugal's pain
>>http://online.wsj.com/article/BT-CO-20100427-714236.html?mod=WSJ_World_MIDDLEHeadlinesEurope
>>
>>Tick...tick...tick...
>
>Think happy thoughts. The Messiah knows what is good for us.

I'll be fine. I'm heading to the desert for 10 days of sun and relaxation...and golf for when I'm too relaxed and need a bit of stress.