Treasury Secretary Janet Yellen got huffy earlier this month after Fitch Ratings lowered the credit rating of the United States. Insisting that the downgrade is "arbitrary and based on outdated data," she assured the world that "Treasury securities remain the world's preeminent safe and liquid asset, and that the American economy is fundamentally strong."
Of course, it's Yellen's thankless job to blow sunshine up the asses of the world's financial markets even as the U.S. government ignores constant warnings that its fiscal policies are reckless. But blow though she will, nobody seems to find her especially convincing.
