I know most of you were educated in public schools, thus don’t really care what credit rating you or the government have, but trust me when I tell you this is a big deal.
Moody’s Investors Service fired off a warning on Wednesday that the triple A sovereign credit rating of the US would come under pressure unless economic growth was more robust than expected or tougher actions were taken to tackle the country’s budget deficit.
In a move that follows intensifying concern among investors over the US deficit, Moody’s said the country faced a trajectory of debt growth that was “clearly continuously upward”.
Steven Hess, senior credit officer at Moody’s, said the deficits projected in the budget outlook presented by the Obama administration outlook this week did not stabilise debt levels in relation to gross domestic product.
“Unless further measures are taken to reduce the budget deficit further or the economy rebounds more vigorously than expected, the federal financial picture as presented in the projections for the next decade will at some point put pressure on the triple A government bond rating,” the rating agency added in an issuer note.
Fat chance of that happening Moodys.
Lord God Bernanke, omnipotent master of interest rates, has declared he will dump money from helicopters in order to boost our economy! Interest rates be damned!
The banker oligarchs own the Obama administration as well as the Treasury. The congress is packed full of demonrats willing to sell their soul and the country in order to buy as many votes as possible. The criminals we call the US government will not stop until this country is a smoking hulk of ruins.
The loss of the US’s AAA rating could very well collapse our fiat debt based pile of crap economic system. Such a move could spur a spontaneous run on the dollar, with countries dumping treasuries like no tomorrow.
This would bankrupt the US overnight and throw the dollar into chaos.
Imagine walking into Wal Mart and paying $10,000 US for a plastic lawn chair.
The US makes nothing, it produces nothing, all measures of our productive output given to us by government are a lie. Since we produce nothing, in a dollar crisis, everything that is imported will skyrocket in price, leaving us paying epic prices for the most basic of goods.