Home » Stocks » US Post Office confirms credit downgrade #Obama #USPS #debtceiling $FDX $UPS

US Post Office confirms credit downgrade #Obama #USPS #debtceiling $FDX $UPS

Uncle sam no

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US Post Office in big financial trouble. They skipped pension contributions, they are laying off and forcing retirement for some 200K and they may still miss the payroll in a few months. This just confirms Standard & Poors credit downgrade to AA+.  Governments with a AAA rating do not allow problems to go on for so long.

Wonder who else will needs to resort to blackmail and games of chicken to protect their funding. In the meantime FedEx (NYSE:FDX) and UPS (NYSE:UPS) eat Uncle Sam’s lunch with lower labour costs.

Disclosure: George Gutowski writes from a caveat emptor perspective. I hold no positions in stocks mentioned in this post. I have no plans to initiate new positions within the next 72 hours.