When the US downgradeds, it will send a shudder through markets that day. That will followed, as usual, by the more sober realisation that what S&P, Moody’s think about the nation’s creditworthiness is almost irrelevant. The more ratings become removed from reality, the more I am horrified to their semi-government approved status. The more we can rely on them less, the better. I'm pretty sure that the problems will be large institutions that have to scrammmbe to put up more risk reserves,

Ah, thanks for the kind reply, I see the stretch you were going for there.

The story you quote is from 1996. Not 32 years ago.

Governments care about the health of their citizens when they pay for healthcare.

When the ban on smoking in public places was being debated in the UK, one arguments put forth was that it will reduce the National Health Service's (NHS) costs (from the BBC ).

Paternalistic perhaps, but they didn't ban smoking altogether.