Japanese Rating Firm Warns of Sovereign Downgrade

I don’t subscribe to the WSJ so couldn’t get access to the whole article, but here’s the warning

Wall Street Journal

AUGUST 16, 2011

One of Japan's two major credit-ratings firms could cut its top-notch rating on the nation within months unless it sees a commitment from the government to belt-tightening in the budget for next fiscal year.

And Mike Ruppert’s comments...

OK, this should be the puree switch on the blender. Vast amounts of capital are irrationally flying round the world in search of "safety". Screw profit now. Downgrade Japan and the derivatives will be flying so fast all the computers will blow out. Worse, there'll be so much of them that there will be no financial "lifeboat" that will be able to hold any of them for long without capsizing. 

-- MCR