I've been trolling through the press and the blogs while I eat lunch; reaction to the alleged deficit reduction deal is mixed, to put it nicely. I am kicking myself; I wanted to say that the drop after the "relief rally" would start by noon. The charts show it about 10 AM, but it probably wasn't caused by the dawning of the light but by other related factors. Oh well, it's not like I'm a financial blogger.
SurvivalBlog has been spending a lot of time on the subject of late, and I found this article that discusses how fast things would happen if US sovereign debt were downgraded. So you ask, how fast would things happen?
Of course, they're making educated guesses, just like me. It might not be that bad. But if you prepare for the worst, you're also prepared for anything less.