American Morning

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August 8th, 2011
01:37 PM ET

How will the downgrade of the U.S. credit rating impact your personal finances?

Days after Standard & Poor's dropped the U.S. debt rating, stocks plunged sharply this morning as investors had their first opportunity to react to the historic downgrade.

In the midst of the uncertainty in the global markets, many Americans are left wondering how, and if, the move by S&P will affect their personal finances.

Today on American Morning, Sarat Sethi, Partner and Portfolio Manager for Douglas C. Lane & Associates, breaks down the ways that the credit downgrade could impact investments, bonds and retirement funds.

Filed under: Credit rating • Downgrade • Money
soundoff (6 Responses)
  1. Mitchell

    Not much has changed. I will still continue to work and will still continue to be a "tax slave" to fund social programs that keep so many from being forced to take responsibility for themselfs.

    August 9, 2011 at 8:04 am |
  2. Raj, Toronto

    whats funny is how your statements at the top of the hour at 7 today were dramatically different, in fact, the opposite of what you were stating yesterday. This is what I mean, the US government has lost credibility and so has the dieing mainstream media. The 1 million dollar question clueless hosts is how can we create market conditions in which the economy can thrive. Ali is correct when he stated that governments do not create jobs, obviously, they create the conditions. But that in itself is a lie on the surface, its the federal reserve, and that institution is not part of the federal government nor is it subject to it. Continue to lose credibility folks, I watch you guys in the morning everyday to have a laugh before going to work. Why don't you listen to what your viewers say about the issues, go to Jacks blog. Or better yet, go to the source, i n f o w a r s . c o m

    August 9, 2011 at 7:23 am |
  3. thomas renner

    I just said good by to 60K in my IRA. Instead of pledging not to raise taxes to some moron the GOP should of pledged not to wreck the country to people like me, and they think this is better for the economy than closing some tax loopholes???

    August 9, 2011 at 6:58 am |
    • Raj, Toronto

      partisan politics again, why don't you require both parties to take that pledge. The first day Obama took office, it became his economy, own up to it. The stimulus was pushed by both Bush and Obama. And wall street under both administrations are making record profits at the expense of main street. But forget that, lets blame the people, real Tea Party, that is pointing out the flaws that both parties are perpetrating. Blame Ron Paul, you know the guy who accurately predicted all of this.

      August 9, 2011 at 7:30 am |
  4. Andrew D.

    I've said it before, and I will say it again. Given the current state of the economy, it seems that there is but one safe place to put your money these days... The Bank of Serta. Your money won't grow under your mattress, but it won't disappear before your eyes in a matter of hours, either.

    August 9, 2011 at 12:47 am |
    • Raj, Toronto

      inflation, look at what JP Morgan analysts said regard it yesterday and the price of gold. That is not safe my friend, put your money is hard assets like metals. Wake up, and stop relying on people that have a track record of 5/100 in their reporting

      August 9, 2011 at 7:26 am |