Credit Score: US 254 - Greece 0

Can a certain great economic power lose its A+ debt rating due to some over-spending?  "Absolutely not... That will never happen to this country"

It so happens that Tim Geithner, GSA (Goldman Sachs Alum) said that to ABC News.  He seemed almost incredulous that anyone would suggest that a $1.6 Trillion budget deficit would worry anyone, especially the smart money, worry about getting paid back.

Heard that before?  That's what the Romans said, except it was in Latin and the Greeks, back when Alexander the Great was learning Egyptian.  Probably the Russians and the Incas.  Definitely Spain.

Spain?  Yes, a while back Spain had accumulated more gold than the Incas, having stolen every movable object in Peru.  Spain even got a pope to divide half the western hemisphere between themselves and that rival great power, Portugal.

Portugal, honest.  Which is why Brazil speaks Portuguese instead of the Spanish we speak in California.  Yes, it was a long time ago, 1494 or something.

Now, more than 600 years later, once-big-shots Spain and Portugal are in big economic trouble because of deficits. But Greece is the headliner.  It pulled a surprise deficit-rabbit out of Zorba's cap and the mighty Euro is still trembling.  If countries had a credit score, Greece's would be zero.  Or less.

Everyone loves Greece.  It gave us Aristotle, the brilliant philosopher who taught Alexander Egyptian; Plato, the idiot who invented platonic relationships; Euclid, who made up middle-school geometry; the Boston Marathon; "300 Spartans" and that really hot Queen Gorgo; Helen of Troy and don't let the Troy fool you, that ship-launching face was from the same Sparta as the movie; and Retsina, a wine so awful the Greeks juice it with pine tar to make it taste better.

The Greeks also gave us the Philistines (and probably the all of the Palestinian crises) and the name "Jesus" (except for the "j" which even Jesus couldn't say because it didn't exist.  Not until after Spain and Portugal ate up Latin America, so named because the pope couldn't use either Spanish- or Portuguese-America without someone's hissy fit).

Greece always gets cut extra slack because it kept beating back the Persians and their power-hungry leaders (oh, how times have changed).  Greece created the foundation of Western Culture, which did not, in fact, begin with Ronald Reagan.  The European Union has tried to be patient with Greece, but the surprise deficit finished that.

Greece will have to cut spending, raise taxes and run 26.2 odd miles or it's credit score will hit Zero faster than the pop-up window warning you of just that. And all Greek credit cards will all carry the same 48% interest you and I are paying. The Euro is taking a hit, especially against the US Dollar

Tim Geithner is probably emailing overseas investors like crazy. "Won't say I told you so, but do you still want to buy bonds in Euros?  Greece has some nice ones.  Spain and Portugal, too.  Oh, and we are still selling bonds in Absolutely-Not Dollars.  Call me."

The smart money (that would be the Chinese) is looking for bonds in Nepal.