Stimulus is the wrong medicine for solving the developed world’s current problems, and too much stimulus will causes inflation and bubbles in emerging economies first, and inflation in developed economies later, writes economist Andy Xie in a commentary for Caixin Online.

(Updates with ratings firms’ lack of comment in last paragraph) Connecticut Attorney General Richard Blumenthal said Friday the Superior Court has rejected Standard & Poor’s motion to dismiss his case against the credit-ratings agency for allegedly giving artificially low credit ratings to municipalities.

Investors are scared–really, really scared, writes Howard Gold.