In the sky! is it a flock of birds? No, it's raining shoes!

http://www.businessweek.com/news/2011-08-08/s-p-begins-to-cut-aaa-rated-muni-bonds-after-u-s-grade-lowered.html

Waiting for the other shoe to drop! is a favorite homely when we are describing a situation

which has already hit us up side the head....once.

And what we seem to have here is a centipede who is acting as a bomber, and loosing countless shoes.

The interview quotes are assuring us it's all: OK. We'll, lets see what they are saying the next time they are interviewed from under there sheltering rocks.

And if you don't get it! Bonds are what retirement, widow and orphaned funds for an example invest in for their own fund contributors. They don't 'grow' but they know 'it' will be coming the first of the month.

And, as I think the fund managers will be saying soon: Nothings for sure! Though i doubt they will add: Including my investment judgment.