does AAA really mean jack shit?

Well it looks like Moody's and Standard and Poor's, two prestigious firms who assign credit ratings to businesses, derivatives, girls, etc, have "threatened" to remove the United States AAA credit rating.

This threat to downgrade the US's credit is backed by the argument that the government will not be able pay its bills come August 2nd if legislation is not passed. They also draw attention to he current US debt which is well over $14 trillion.

Now remember, these are the same rating firms that gave Lehman Brothers, currently being dissolved and bankrupt from the subprime mortgage crisis, and AIG, an insurance firm that at one point was 80% owned by the government, AA and AAA rating right before government intervention. Lehman held a AAA rating right up to the moment they went bankrupt. Apparently they thought this was the right call because the employees who 'analized' these companies before the collapse still have jobs and some even promotions. http://www.huffingtonpost.com/2009/09/30/credit-rating-agency-anal_n_305587.html

Correct me if I'm wrong but unless AAA means "you probably shouldn't invest, this shit is sketchy" I don't know if these ratings are entirely accurate.

The United States government is about to run out of money. The last time this was even a problem was in 1983. The budget is not balanced, government officials cannot stop bickering to come close to a resolution, and expenses are at an all time high.

Why is it that these agencies have waited until less then a week until the government defaults on its expenses to possibly lower their rating?

I'm not sure I am going to take these ratings into account during my next day trade.

check out this bear. He seems confused too