Japan ‘May Be’ Close to a Downgrade: S&P=Yen Gains Versus Most Major Peers

Standard and Poor’s said Japanese Prime Minister Yoshihiko Noda’s administration hasn’t made progress in tackling the public debt burden, an indication it may be preparing to lower the nation’s sovereign grade.

“Japan’s finances are getting worse and worse every day, every second,” Takahira Ogawa, director of sovereign ratings at S&P in Singapore, said in an interview. Asked if that means he’s closer to cutting Japan, he said it “may be right in saying that we’re closer to a downgrade. But the deterioration has been gradual so far, and it’s not like we’re going to move today.”

http://www.bloomberg.com/news/2011-...er-to-japan-downgrade-as-finances-worsen.html

Isn´t it utterly ridiculous beyond common sense? Yen as a "safe haven". LMAO!!!!!!

 

Common sense tells us the world is flat.