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MicroWave @lemmy.world

2y ago

Fitch downgrades US credit rating, citing mounting debt and political divisions

Fitch downgrades US credit rating, citing mounting debt and political divisions

The rating was cut Tuesday one notch to AA+ from AAA, the highest possible rating. The new rating is still well into investment grade.

Late Stage Capitalism @lemmygrad.ml

Red Wizard 🪄 @lemmygrad.ml

2y ago

Fitch downgrades US credit rating, citing mounting debt and political divisions

apnews.com /article/credit-rating-downgrade-deficit-68fb6c578190d8361b6639e603714e5a

7 comments

Having a credit rating on the imaginary debt of the US is ridiculous.
The federal govt doesn't borrow US dollars - it creates US dollars.
It's impossible to default.
- It's not impossible to default. It should be, but it isn't due to "debt ceiling" nonsense. Political instability is the cited reason for the downgrade and, yeah, makes perfect sense why that would be.
- "U.S. Credit Rating Downgraded: How Will It Impact Your Investments?"
  http://ca.investing.com/analysis/us-credit-rating-downgraded-how-will-it-impact-your-investments-200575853

7 comments