US Equity and Bond investors had a tough day.  The reason?  According to most pundits, the proximate cause was the S&P downgrade of UK debt.  Many observers decided that the US might be next. Bill Gross of PIMCO weighed in. The United States will face a downgrade in "at least three to four years, if that, but the market will recognize the problems before the rating services -- just like it did today," Gross told Reuters. Accrued Interest writes in this article, Bill Gross:  Do you trust him? as follows: Enter Bill Gross, always eager to talk his position. He stokes the fire by saying that the Treasury market is selling off due to ratings fears. Maybe. Indeed, I've heard that Asia is selling today. But always remember, when Bill Gross talks, he is always ...