Brace yourselves for chaos: Welcome to official Crisis 2.0
WORLD markets are preparing for a shocking week after Washington lost its AAA rating and Europe's debt continues to grow.
The Australian sharemarket is tipped to suffer another horror day when it opens tomorrow following the global worsening debt crisis and Washington's rating change.
Standard and Poor's cut the US's rating to AA+ with a negative outlook, saying US politicians were increasingly unable to come to grips with the country's huge fiscal deficit and debt load.
The Gillard Government insisted today Australia was well placed to weather the storm with its strong economic fundamentals and a secure gold-plated AAA ranking.
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