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Fitch Ratings downgraded its US debt rating on Tuesday from the highest AAA rating to AA+, citing “a steady deterioration in standards of governance.” (www.cnn.com)

submitted 2 years ago by [email protected] to c/[email protected]

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[–] [email protected] 16 points 2 years ago (2 children)

The leading candidate of the Republican Party having three indictments might have a little something to do with it too

[–] [email protected] 6 points 2 years ago* (last edited 2 years ago) (1 children)

The US has shown that they don't give two shits about rules. They say they can't default on debt, but I guarantee you they'll think of some bullshit way to do it if they have to. Probably by saying the party they owe to is the devil and they can't "in good conscience" continue funding them or something like that, or find some excuse to sanction them and "oh well we're terminating this loan without returning it, sorry, our hands are tied because we sanctioned you."

I mean, isn't China still their biggest credit buyer? Forget the US taking their gloves off when interacting with China, they're in the process of taking their clothes off.

[–] [email protected] -1 points 2 years ago (1 children)

China has been dumping US bonds pretty aggressively, but I do believe they still hold a substantial amount.

[–] [email protected] 3 points 2 years ago* (last edited 2 years ago)

China has been dumping US bonds pretty aggressively

Makes sense. They're not stupid.

[–] [email protected] -2 points 2 years ago

If our Govt. Would just stop spending and wasting money on nonsense then we wouldn’t have this problem. Good luck getting any politician to "live within their means" as we are asked to do.