News roundup, 16 April 2026

- Donald Trump is once again threatening to fire Federal Reserve chair Jerome Powell for refusing to lower interest rates, even though it's far from clear that he has the authority to do that unilaterally. The regime is also pursuing a criminal investigation regarding alleged cost overruns for renovations at the central bank's headquarters; a judge has already given the legal opinion that the overruns are a mere pretext and that the government wants to intimidate the bank. The strange thing is, Powell's term is set to expire in May, although he would stay on until a successor is found. 

- Hospitalization rates for vaccine-preventable respiratory infections, including flu and RSV as well as COVID-19 and other conditions, have doubled since the start of the pandemic. Evidently enough people went down the antivax rabbit hole that they stopped getting the vaccinations that they previously went along with.

- To the surprise of nobody with any sense, speeding has increased in Ottawa school zones since the Ford government banned municipalities from using speed cameras.

- More information has emerged about Jeremy Frimer, the psychology professor who is suing the University of Winnipeg for allegedly giving him complex PTSD and the faculty union for not backing him up. It seems that Frimer made some highly questionable claims about race, intelligence, and crime; despite his protestations, the general consensus among most scientists is that human races are so ill-defined that it's pretty safe to assume that such claims are nonsense. As to what could have motivated to make such claims, well...

- Travis Patron, a Saskatchewan man who once served as the leader of a now defunct far right fringe party, has been charged with wilful promotion of hatred for some online posts. He has previous convictions for the same offense, as well as for assault, harassment, and impersonating a police officer.

- Remember the story a few years back about the programmer whose best friend was killed by a hit-and-run driver, so she trained a chatbot on all the texts he'd sent to her so she could still feel like she was talking to him? Whatever you think about whether that's psychologically healthy or not, at least she knew what was going on. A more recent case, though, is a bit more problematic. After a man died in a car accident last year, his family decided to keep the news from his mother, fearing that the shock would harm her health. So they got together all the audio and video they could find of him and trained an AI on it. The AI has brief conversations with her on screen but then apologizes saying that he has to go back to work because he's very busy, and that he will be sure to move back to her city to be with her once he has earned enough money. As some folks in this Reddit thread have remarked, this might be justifiable if she had severe dementia (the only thing worse than having to tell her that he'd died would be having to tell her that over and over again), but there's no mention of this in the article, and I can't see things going too well if the AI has some sort of glitch that reveals its true nature or if she finds out the truth in some other way.

News roundup, 14 Oct 2025

- The price of gold has topped $US4,000/oz t last week for the first time in history, as investors price in uncertainties about the US economy. Actual inflation hasn't been all that high, but the Federal Reserve has signalled that interest rates will likely decrease again later this year. Not mentioned in the article are concerns about the future independence of the Federal Reserve itself; presumably CBS' new owners don't want us thinking about that.

- A Bell 222SP helicopter went out of control and crashed while participating in a "Cars 'N' Copters" event in Huntington Beach, California on Saturday. The aircraft is shown from multiple video angles going into a spin, and the entire tail rotor gearbox was ejected from the tail before impact. The two people on board survived but with significant injuries; three people on the ground were injured as well. Juan Browne (blancolirio) has some preliminary analysis here.

- The Carney government has announced that they will be moving forward with plans for income taxes for some lower income Canadians to be filed automatically starting in 2027 and expanding over the next couple of years. This sort of thing has been the norm in many countries for a long time; no doubt the tax software companies are vehemently opposed, though. Politically, it's a smart move because when people have to do their own taxes they're reminded of the fact that they're paying taxes, making it easier to whip up populist anger about them. The government is also expanding a national school meals program.

- China is now outright offering to remove the punishing tariffs on Canadian canola if Canada is willing to remove the equally punishing tariffs on Chinese electric vehicles. Prairie premiers, including both Wab Kinew and Scott Moe, have been calling for this for some time, while Doug Ford is vehemently opposed. If this does happen I will be pleasantly surprised; while the Canadian auto sector is probably doomed anyway, I doubt that Carney will be willing to be seen to be admitting that, since the ridings with a lot of auto plants are mostly competitive, while the rural folks in the prairies who would benefit from opening up the canola market aren't going to vote Liberal no matter what (because Jesus, Trudeau, and freedumb).

- The Canadian Union of Postal Workers is backing away from their across-the-board strike, moving to rotating strikes instead. I guess that the union's leadership knows deep down that regardless of the merits of their position they're not going to win in the court of public opinion if people can't get their Amazon orders.

- BC Conservatives leader John Rusdad has ordered the cellphones of all his MLAs to be searched after it was leaked to the media that there had been a push for his leadership to be reviewed. Rustad denies being paranoid and claims that it was actually caucus members who pushed for this. Notably, the search extended not only to phones issued by the legislature but MLAs' private phones as well (at least the ones Rustad knows about). 

- The head of Oregon's National Guard told a Senate subcommittee that if his troops are deployed, they will consider protecting the public from ICE to be part of their mandate. Of course, this just means that the regime will use NG troops from a more pliant state, but it will be interesting if this protection extends to the actions of out-of-state troops. Things could get very interesting if, say, the governor decides to deploy the Oregon NG to protect the state's people from them (or from out-of-state NG troops). It's worth noting that ICE has already accidentally teargassed cops in Chicago.

News roundup, 26 Aug 2025

- At least 20 people, including 5 journalists, were killed when the Israelis bombed one of Gaza's main hospitals. Two separate strikes occurred, the second as staff were preparing to evacuate from the first.

- The Trump regime is trying to fire a member of the Federal Reserve Board of Governors. One of Trump's appointees, Bill Pulte, who is involved in regulating mortgage giants Fannie Mae and Freddie Mac, alleges that Lisa Cook committed mortgage fraud; Cook has not been charged with a crime, though. Investors are concerned about the implications for the central bank's independence; stock futures and the US dollar have declined since the story broke.

- A Norwegian hiker who had gone missing in the wilderness of northern Manitoba has been found dead. Steffen Skjottelvik had been trying to reach York Factory from Fort Severn First Nation in northern Ontario and almost made it, but his body was found along the Hayes River, only a short distance from his destination. 

- Steinbach city council has rejected a bid to hold a referendum on allowing cannabis stores in Manitoba's third largest city. Activists are now gathering signatures in the hope of getting 20% of registered voters in the city to approve, which would force a referendum whether council wants it or not.

- A parking enforcement officer in Ottawa was attacked after ticketing a vehicle parked outside City Hall. Another city employee intervened, and police captured a suspect. The same thing happened in Toronto last month; it appears that being a parking officer (and most likely also an animal services officer or other bylaw officer) is not a risk-free job.

- British musician Paul Weller is suing his former accounting firm, after the firm dropped him as a client over his use of the G word to describe what Israel is doing to Palestine.

- Dylan Desclos, a French Justin Bieber impersonator, managed to convince the staff at a Las Vegas nightclub that he was the real deal; he not only performed a number of Bieber's hits but racked up a $10,000 tab before the ruse was discovered.

News roundup, 17 July 2025

- The possibility of Donald Trump firing Federal Reserve chair Jerome Powell is still looming. Powell has refused to cut interest rates as Trump wants; he needs some sort of a pretext to do this, though, and the alleged mismanagement of the renovations on two Federal Reserve buildings just might be it. Trump has already been polling Republican legislators on the issue. He's denying, however, that he actually plans to do so, perhaps leery of what such an unprecedented move might do to the markets. Interfering with their central banks didn't do Hungary and Turkey any favours, after all.

- The Trump regime is doing its utmost to stop the expansion of renewable energy, even as China races ahead. China already has five times the amount of renewable energy in its grid as the US - and they have greatly expanded electricity supply without increasing their fossil fuel consumption as a result. Their crackdown on offshore wind now has Massachusetts and New York looking to buy power from an offshore project in Nova Scotia.

- The matter of the Epstein files continues to cause problems for Donald Trump. Some think that this could be thing that finally makes the MAGA crowd question their previously unquestioning loyalty to the orange monster. Then again, it might just as easily make them question their previously unquestioned belief that sexual abuse of minors is a bad thing.

- A plastic surgeon in Utah who allegedly destroyed more than $28,000 worth of government provided COVID-19 vaccines and gave kids saline shots so they would answer yes when asked if they had been vaccinated has had all charges against him dropped by the Department of Justice under Pam Bondi. Dr. Michael Kirk Moore Jr. had allegedly accepted cash bribes to distribute fraudulent vaccination cards as well.

- Two people have been arrested after allegedly using a tow truck to steal several vehicles in Transcona.  

News roundup, 24 April 2025

- Donald Trump is accusing Volodymyr Zelenskyy of jeopardizing the peace deal that Trump claims was "right around the corner", due to his unwillingness to surrender territory as part of the deal. Now it has to be admitted that Trump has a point of sorts when he says that Crimea "was lost years ago", but to expect Zelenskyy to just agree to this as part of a deal for which he wasn't even invited to the negotiations seems more than a little suspect.

- Trump is partially backing down on his threats against China, saying the tariffs will be coming down "substantially". He has also said that he no longer plans to fire Federal Reserve chair Jerome Powell. Markets have rebounded somewhat in response to these announcements.

- A substantial number of Canadian snowbirds are selling their winter homes in the US, for reasons that should be increasingly obvious. Florida's housing market is taking a particular hit, given the state's relative proximity to Canada's largest population centres.

- Some unnamed Conservative Party sources suggest that Pierre Poilievre could be at risk of losing his own seat in the riding of Ottawa-Carleton. The party has apparently deployed a lot of campaign workers to that riding and others in the area in recent days. Liberal sources also indicate that their candidate, Bruce Fanjoy, is in a dead heat with Poilievre.

- A Swedish company, Candela, has set a new speed and range record for an electrically powered vessel. The P-12 is a hydrofoil developed for use as a ferry, with a range of 40 nautical miles and a top speed of 25 kt. All this with a battery less than twice the size of the ones in some electric cars. The main downside is that it only has the capacity for 30 passengers.

- Gunmen opened fire on tourists in Indian-controlled Kashmir, killing 26 people and wounding 17. The Indian government is blaming Pakistan for the attack, and has taken a number of measures, the most significant of which may be the suspension of the Indus Waters Treaty. Several Pakistani officials warn that the unilateral suspension of the treaty is a violation of international law; an advisor to Pakistani prime minister Shehbaz Sharif went further, calling it an "act of war". This is not the kind of talk you want to hear in a dispute between two nuclear powers.

- A fund created by the Stefanson government in 2023 to subsidize WestJet flights between Winnipeg and two American cities (Los Angeles and Atlanta) has run out. Given the current political climate in the US, the Kinew government has no desire to top it up (myself, I wouldn't be in favour of doing that even under better circumstances). In any case, the demand for flights to the States is tanking; WestJet is reorienting their plans to offer more flights to Europe instead.

News roundup, 22 April 2025

- Donald Trump has demanded that Federal Reserve chair Jerome Powell be terminated for not lowering interest rates as Trump would like. Constitutionally, this isn't supposed to be doable by the president alone; however, the question of what happens if he tries anyway has yet to be answered. Certainly investors are not showing confidence in the situation.

- There has apparently been a noticeable shift, at least in the US, towards bringing one's own lunch to work rather than eating at a restaurant. This is seen by some as a worrisome economic indicator, even a harbinger of a recession.

- Pierre Poilievre is conspicuously absent from the latest round of Conservative Party TV ads. While he's mentioned in one of them, he isn't shown; instead they show old white guys playing golf. The fact that the Cons feel the need to target white male boomers suggests that they're struggling even with that demographic (or at least its urban/suburban component, whose votes they need if they are to have a hope of winning the election next week).

- A bunch of the usual far-right suspects have planned a "Referendum Rally" at the Alberta Legislature on the first of May, figuring that if Poilievre can't win the election it's time for Alberta to secede and join the US.

- Not satisfied to simply cut billions of dollars in federal funding to Harvard University, the regime now appears to have directed the IRS to rescind the institution's tax-exempt status.

- A new Silicon Valley startup, Scout AI, hopes to develop autonomous military robots controlled by the latest in AI technology. I think maybe it's time for these people to watch Terminator (or watch it again, if they didn't clue into the message the first time).

- Commuter trains running between San Francisco and San Jose are now fully electric; this has led to a rapid improvement in air quality in the region, with an 89% decrease in fine carbon particulates ("black carbon").

- An American nonprofit that provides eyeglasses around the developing world is moving its operations to Manitoba due to uncertainties related to Trump's tariffs (their lenses come from places like China).

News roundup, 7 April 2025

- Nearly a dozen candidates for the two major federal parties have left or been removed from the race since the start of the campaign. Besides the Liberals' Paul Chiang and the Cons' Don Patel, of whom we've spoken before, this list includes such luminaries as Simon Payette, who was the Conservative candidate in Berthier—Maskinongé until he accused École Polytechnique massacre survivor (and Liberal candidate) Nathalie Provost of exploiting the crime to "grease the palms of anti-gun extremists". I guess he'll have to move to Alberta and run for the UCP there. Today is the parties' last day to replace candidates.

- An Ottawa man was arrested after he entered Parliament's East Block on Saturday and allegedly made threats, sending Parliament Hill into lockdown. Nobody was injured and no weapons found; the nature of the threats and their target has not been disclosed.

- Federal Reserve chair Jerome Powell is warning that inflation may remain high for the foreseeable future, and stagflation is a risk, due in large part to the policies of the Trump regime. It's a safe bet that Trump will do his darnedest to get Powell removed, not that this will help the situation of course.

- An Australian tourist was denied entry to the US, resulting in him losing out on a $15,000 non-refundable cruise, because the route he took to the US was circuitous and was deemed "suspicious" for that reason. For his part, he says that the route was chosen for the cheapest airfares, but American officials weren't having it. He has vowed never to return to the US. Stuff like this isn't going to help the American travel industry, which is already reeling from a dramatic drop in visits from abroad.

- Another child (unvaccinated of course) has died of "freedom freckles" in Gaines County, Texas. The victim apparently had no underlying health conditions. Health Secretary Robert F. Kennedy Jr. has visited the area; perhaps someone should convince him to take a side trip to Dallas.

News roundup, 13 Feb 2025

- Donald Trump is now threatening to impose a tariff of up to 100% on cars manufactured in Canada. People with actual knowledge of the auto industry are warning that such a move could shut down the entire auto industry in the US as well as Canada. Tesla might be an exception to the rule, which would make such a move that much more explicable.

- China is creating a planetary defense agency in response to the discovery of an asteroid that is thought to pose a risk in 2032. The asteroid is about 100 metres in diameter, and if it were to hit Earth it would be the equivalent of a large nuclear weapon going off - not enough to destroy the biosphere, but definitely enough to destroy a city in a direct hit. The ESA has estimated that the probability of an impact is about 1.2%, which while not high is high enough to worry about. So it's good that China is taking it seriously, especially given that NASA is not likely to be in any condition to properly deal with it given the chaos of the Trump regime.

- Elon Musk is apparently in favour of having former Texas Republican congressman Ron Paul appointed as chair of the Federal Reserve. Given that Paul is the author of a book entitled End The Fed, this has spooked a lot of people; notably, the price of gold as well as bitcoin have spiked dramatically in recent days.

- Germany's federal intelligence service, the BND, fears that climate change could threaten the stability of the European Union due to its likely effects on food prices, migration, and conflict. All of this is, of course, stuff some have been warning about for years. Gwynne Dyer, for instance, predicted almost a decade ago that climate-induced migration could be a threat to the union if its leaders don't prepare for it.

- Cambridge, Massachusetts has eliminated exclusive single-family zoning across the entire city, allowing buildings up to six stories in any neighbourhood. This is expected to create over 4,800 units over the next quarter century. A bold step in the right direction (and a rare one for North America).

- Buyers of new Jeeps are incensed at the fact that the vehicles' infotainment systems are force-feeding ads to the occupants every time the vehicle comes to a stop. So much for your nice uninterrupted stream of music or podcasts. Besides being annoying, this is raising privacy concerns, as the vehicles are also gathering data about drivers' behaviour in order to curate the ads.

News roundup, 31 Jan 2025

- No survivors have been found in the midair collision near DC, and none are expected. For his part, Donald Trump is blaming diversity efforts at the FAA. I'm sure Germany's leaders probably cast a few similar aspersions about the blame for the Hindenburg disaster as well. In actual fact, the FAA may well deserve some of the blame, not because of diversity but because of short-staffing - there was only a single controller working that night in one of the busiest and most complicated airspaces in the country.

- Trump is accusing the Federal Reserve and its chair, Jerome Powell, of causing inflation after the Fed decided to keep interest rates at their current level. On cue, he's also blaming DEI policies for the matter. No doubt Trump's supporters in Congress will be all too willing to pass the necessary legislation to weaken the independence of the central bank, assuming of course that Trump's attention span is long enough to keep him from moving on to something else before acting.

- One of Trump's executive orders mandates schools, among other things, to provide "patriotic education". The order even goes so far as to provide a definition:

(d)  “Patriotic education” means a presentation of the history of America grounded in:
(i)    an accurate, honest, unifying, inspiring, and ennobling characterization of America’s founding and foundational principles;
(ii)   a clear examination of how the United States has admirably grown closer to its noble principles throughout its history;
(iii)  the concept that commitment to America’s aspirations is beneficial and justified; and
(iv)   the concept that celebration of America’s greatness and history is proper.

Setting aside the fact that any characterizing of America's founding that is accurate and honest is almost certain not to be "unifying, inspiring, and ennobling", this whole thing sounds like it could have come straight out of the Chinese Communist Party.

- A bill before the Tennessee legislature would make make it illegal for legislators to vote in favour of immigration policies opposed by Trump, punishable by up to six years in prison and/or a $3,000 fine.

- Trump has purged the National Labor Relations Board; not only has he removed the board's general counsel (which is legal, since that is an "at pleasure" position), but he has also removed a board member who, according to legislation, has a fixed term. As a result, the board lacks a quorum and is unable to make rulings or certify union representation. Worse, since Trump is almost sure to get away with this, it is expected that he will take similar measures with other ostensibly independent government agencies.

- FCC chair Brendan Carr, appointed by Trump during his previous term (and notably not removed by the Biden administration) has ordered an investigation into NPR and PBS, with the ultimate goal of slashing funding for the broadcasters.

- A priest in an Anglican splinter group has been defrocked after giving a Nazi salute during a speech at the National Pro-Life Summit in Washington. Worth noting is the fact that the church in question, the Anglican Catholic Church, had actually split from the main Anglican communion because the latter wasn't sufficiently socially conservative. I guess even they have standards, though.

- Hot on the heels of one of those Dec. 6 rioters pardoned by Trump dying in a confrontation with police, it turns out that another of them is wanted for soliciting sex with a minor.

- A woman who recently died in Taber, Alberta turned out to have been a longtime fugitive from American and Mexican authorities. She was suspected of killing two people in Missouri, then after fleeing to Mexico was jailed for killing a man in a botched robbery but escaped from prison in 1969 and remained at large for the rest of her life.

News roundup, 24 Jan 2025

- Solar power generated 11% of all electricity in the European Union in 2024, having overtaken coal's 10%. Wind power (17%), exceeded natural gas (16%) for the second year in a row, and gas experienced its fifth year of decline. The combined output of solar, wind, and hydroelectricity now accounts for 47% of the federation's power grid. Besides the obvious climate benefits, this saved the bloc €59 billion in fossil fuel imports last year (and no doubt is making the Russians very angry indeed).

- A judge has temporarily blocked Donald Trump's executive order in which he tried to do away with birthright citizenship. Judge John C. Coughenour (who ironically received his first judicial appointment from Ronald Reagan) characterized the order as "blatantly unconstitutional", saying "I've been on the bench for four decades, I can't remember another case where the question presented is as clear as this one is". Of course, Trump will no doubt direct the Justice Department to appeal until they get a judge that he appointed during his last presidential term...

- The National Institutes of Health cancelled numerous scientific meetings that had been scheduled, with little explanation. The meetings, called "study sections", are supposed to be held on a regular basis to help plan where to focus scientific research for the greatest benefit. Of course, stuff like that is seen as un-American by the MAGA crowd, so it's no great surprise that the Trump administration is doing away with them. Neither is the fact that Trump has withdrawn from the World Health Organization; MAGA also believe that "international" is a four letter word.

- The Conservative opposition in BC seems to be siding with Danielle Smith against Premier David Eby (and every other premier in the country, even Saskatchewan's Scott Moe) on the matter of how to handle the threat of massive tariffs being placed on Canadian exports to the US. Party leader John Rustad attacked Eby for his support of retaliatory tariffs, saying that he was being "too combative" and would "expand" the trade war just by talking about it. One thing that is worthy of note - because of the way pipelines are routed through the US, the Americans could potentially retaliate against any escalation by cutting off the supply of Alberta oil to eastern Canada. Stuff like this is probably why Doug Ford wants to get an election out of the way before major economic disruption occurs.

- Trump is vowing to "demand" that the Federal Reserve drop interest rates immediately. Of course, the independence of the central bank is ensured by actual legislation; that said, Trump's puppets have control of both houses of Congress as well as the Supreme Court, so he will be able to get it done eventually if his attention can focus on the matter long enough. Or maybe it's just another of his hollow threats to distract the public's attention from what he and his cronies actually doing.

- CNN has announced that they will be laying off around 200 people, representing about 6% of their staff. NBC are also expected to announce some layoffs soon, albeit a smaller number. This is not expected to affect too many recognizable figures, who are mostly under contract, but a lot of the most important work in a big news organization is by researchers and fact checkers, and I wouldn't be surprised if people like that account for a lot of the layoffs. Pity, because they're needed more than ever.

- A sociology professor from the University of New Brunswick was scheduled to speak at the Washington, DC launch of his new book The End of College Football, but learned that he was barred from the US as he attempted to board his flight. He believes the ban was motivated by his pro-Palestinian comments.

- Some Facebook and Instagram users, both in the US and abroad, are finding that their accounts are spontaneously following Trump's and Vance's accounts. Some are even finding themselves unable to unfollow the accounts. This is not universal; it hasn't happened to me, for instance (perhaps they're worried that I'm going to blog about it).

Bernanke on the role of a central bank

Ben Bernanke has an important job, so one would hope that he actually knows its function. It seems not. (h/t Atrios)

What do a socialist and a libertarian have in common?

They both want to audit the Federal Reserve:

After decades of pushing long-shot causes like abolishing the income tax and reinstating the gold standard, Republican Representative Ron Paul finds himself in an unaccustomed spot: on the cusp of legislative victory.

A majority of the libertarian-leaning Texan's colleagues in the House of Representatives support his proposal to increase congressional scrutiny of the Federal Reserve, and the measure could be included in a broader banking overhaul this fall.

...

It faces a rockier road in the Senate, where a companion bill offered by his ideological opposite, self-described socialist Bernie Sanders, has drawn 23 co-sponsors.

From Reuters, via Canadian Silver Bug.

Fed Refuses to Disclose Recipients of $2 Trillion

Seems a lot of money to hand out in secret, no?

Dec. 12 (Bloomberg) -- The Federal Reserve refused a request by Bloomberg News to disclose the recipients of more than $2 trillion of emergency loans from U.S. taxpayers and the assets the central bank is accepting as collateral.

Bloomberg filed suit Nov. 7 under the U.S. Freedom of Information Act requesting details about the terms of 11 Fed lending programs, most created during the deepest financial crisis since the Great Depression.

The Fed responded Dec. 8, saying it’s allowed to withhold internal memos as well as information about trade secrets and commercial information. The institution confirmed that a records search found 231 pages of documents pertaining to some of the requests.

Source. You'd think it would be in the public's interest to know what the government is doing with that much money, wouldn't you? I mean, it's not a matter of national security or anything, is it?

The bailouts continue...

...this time, Citigroup:

The U.S. government unveiled a bold plan Sunday to rescue troubled Citigroup, including taking a $20 billion US stake in the firm as well as guaranteeing hundreds of billions of dollars in risky assets.

The action, announced jointly by the Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corp., is aimed at shoring up a huge financial institution whose collapse would wreak havoc on the already crippled financial system and the U.S. economy.

The sweeping plan is geared to stemming a crisis of confidence in the company, whose stock has been hammered in the past week because of worries about its financial health.

"With these transactions, the U.S. government is taking the actions necessary to strengthen the financial system and protect U.S. taxpayers and the U.S. economy," the three agencies said in a statement issued Sunday night. "We will continue to use all of our resources to preserve the strength of our banking institutions, and promote the process of repair and recovery and to manage risks," they said.

It is the latest in a string of high-profile government bailout efforts. The Fed in March provided financial backing to JPMorgan Chase's buyout of ailing Bear Stearns. Six months later, the government was forced to take over mortgage giants Fannie Mae and Freddie Mac and throw a financial lifeline — which was recently rejigged — to insurer American International Group.

From here. Just how long can they keep this up? It bewilders me that the US still has an AAA credit rating; the Rae government in Ontario was nowhere near as far in debt as the US is, yet its AAA rating was taken away early in their term. Of course, there's a difference; if the US defaults, the result could be a bigger devaluation of the US dollar than foreign investors are prepared to cope with. So maybe the bond rating agencies are reluctant to act even in the face of mounting evidence that the Yanks aren't worthy of such good credit, for fear of toppling the world economy into an even bigger mess than it's already in. It's noteworthy, though, that there may be limits to the agencies' patience:

The United States may be on course to lose its 'AAA' rating due to the large amount of debt it has accumulated, according to Martin Hennecke, senior manager of private clients at Tyche.

"The U.S. might really have to look at a default on the bankruptcy reorganization of the present financial system" and the bankruptcy of the government is not out of the realm of possibility, Hennecke said.

From here, via the Huffington Post.