William Engdahl: US economy goes down the tube by days

European markets have remained stable on Monday, despite the wave of credit downgrades across the eurozone by the ratings giant Standard and Poor's. It slashed the credit scores of 9 EU countries on Friday, including France, which lost its triple A status, and Austria. But other ratings agencies, Fitch and Moody's, say they will maintain France's top rating for now. There was no panic among EU leaders, at least publicly. French President Nicolas Sarkozy said the downgrade will not defy his policies. For more on this, RT talks to author and financial analyst F. William Engdahl. RT on Twitter twitter.com RT on Facebook www.facebook.com

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