Here’s a piece of recent news that you almost certainly missed: A large consumer products company, Johnson & Johnson, announced a one-off loss owing to a 32 percent currency devaluation in Venezuela. The reason I expect you missed that less-than-seismic piece of news is that, unless you happen to be particularly fascinated in Johnson & [...]

OK, I’ll fess up. None of the ratings agencies has yet formally downgraded France. But the Planet Ponzi Ratings Agency (established Nov 4, 2011) has formally rated France at A+. Given that we’re a newish agency, we’ve struggled hard to find the positives. And, um, they’re there all right. France makes nice wine. It has [...]