Maybe U.S. based companies are doing "well," but we live in a global economy. Limiting investments to U.S. based companies deprives investors of opportunities in other countries and reduces their ability to diversify risk.
U.S. corporations have come to believe their fates are no longer inextricably tied up with the fate of their country's economy. They're sorely mistaken, and we're all suffering from the consequences of their delusion.
What makes S&P's proclamation so curious is that its recent securities-rating track record has been, shall we say, off the mark? In all my years of teaching math, I never had even the poorest student make a two trillion dollar error.
While Republicans and the corporate media bemoan the growing federal debt as our most pressing crisis, very few commentators have mentioned the necessity of addressing America's most crucial deficit -- jobs.
The White House, Treasury officials and persons in the private sector who are now so publicly critical of Standard and Poor's for its downgrading of the creditworthiness of the US government are too late and off the mark.