Written by Condon Associates on 15 August 2011

And for that matter a change of hemisphere!

The topsy-turvy result in the US follows directly on from the concerns raised by those in North America that I spoke of in my last blog.  What is interesting is the current state of play and the ongoing fluctuations.  I am sure that there is more to be seen on this front before it is all over.

However, there is at least already one salutatory lesson that has come from this and that results from the downgrade of the US economy by the rating agencies.

Firstly, I do accept that these are self appointed experts and proffer an opinion that is based on their own method of operations and governing rules, but whilst they remain they are the guidance accepted by many, if not most.

The US downgrade appears to have resulted from the manner with which Congress dealt with the problem before them, and therefore was predictable.  It should stand as a diehard example of how politicians should not act.  Politicians, regardless of the process are ultimately elected to manage and govern a Country or State.  The process they use to get there, be it party or otherwise, should ultimately become secondary and if necessary redundant.  Congress failed to put its trivialities behind them in the interests of finding and delivering a plausible and effective solution immediately, the issue was dragged out until the last minute, apparently simply for the game of it.

Problems will increase and become more complex; those with a role must accept their responsibility and react accordingly.

After all is this not spelt our clearly in the Corporations Act, as well as other places?
 

PLEASE NOTE: All information contained in the articles below was correct at time of publishing.