The once-unthinkable loss of the AAA rating will constitute a further hit to already fragile business and consumer confidence.

America's downgrade may serve as a wakeup call for its policymakers. It is an unambiguous and loud signal of the country's eroding economic strength and global standing. It renders urgent the need to regain the initiative through better economic policymaking and more coherent governance.

We normally think if you're going to lend someone money, you should get some reward for doing this. In Europe, it's a tax!

The one instrument that has relative political autonomy is monetary policy. Central banks do not need to go to Congress to get approval for an interest rate hike.

Most people are under exposed to global assets, including foreign stocks, bonds and currencies.

If you happen to be the only one with negative interest rates, you also weaken your currency, which means you make your exports more competitive.

Investors should invest on what they know. The biggest mistake is to invest on what they don't know.