It is about darn time a rating agency did what it did. The U.S. deserves it. It is only but one of the things that will hopefully prompt us to change. With that said, we are still doing fine compared to most of the world and here is what I’m doing:

Go back a couple of weeks and read my post titled “The Plan”. It is in full swing.

I believe that ownership of core equities makes sense (no indices).
I believe in high yield bonds for most income investors.
I see no need to own many U.S. government issues and have said so for a long time.
I am not currently supporting over weightings of cash, bank deposits and/or insurance products.

~Susan R. Linkous