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Traders work on the floor of the New York Stock Exchange Wednesday, March 16 (AP)
Traders work on the floor of the New York Stock Exchange Wednesday, March 16 (AP)

TheStreet.com

Where to invest in the wake of S&P's U.S. debt warning Add to ...

Standard & Poor's move to lower the company's outlook on the long-term rating of the U.S. sovereign debt to negative may have caught investors by surprise, but Michael Pento, senior economist with Euro Pacific Capital, has been making this case for years.

"It's not a surprise to me," Pento says of Standard & Poor's revision. "It's clearly late. But at least S&P is now waking up to the fact that the American sovereign debt picture is unsustainable and eventually we have to default on our debt in some form."

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