[link to www.bloomberg.com]

“Europe’s increasingly weak macroeconomic prospects, which threaten the implementation of domestic austerity programs and the structural reforms that are needed to promote competitiveness,” are also factors, Moody’s said in a statement. These factors will continue to affect market confidence, “which is likely to remain fragile, with a high potential for further shocks to funding conditions for stressed sovereigns and banks.”

That is economics speak for, "Hey, it's a big turd sammich, and we want to feed it to the peasants (middle class & lower)."

If Zazz thinks this won't spill over onto Wall Street he needs a basic arithmetic class.