Results 1 to 5 of 5

Thread: US Credit Rating Cut by Egan-Jones ... Again

  1. #1
    Curmudgeon


    LowDown's Avatar
    Join Date
    Jul 2012
    Location
    Houston
    Last Seen
    Today @ 08:16 AM
    Gender
    Lean
    Libertarian
    Posts
    11,542
    Blog Entries
    11

    US Credit Rating Cut by Egan-Jones ... Again

    US Credit Rating Cut by Egan-Jones ... Again - US* Business News - CNBC

    Ratings firm Egan-Jones cut its credit rating on the U.S. government to "AA-" from "AA," citing its opinion that quantitative easing from the Federal Reserve would hurt the U.S. economy and the country's credit quality.
    The new round of quantitative easing is widely regarded as an effort on the part of Bernanke and the Fed to help Obama .

    The degradation of credit worthiness of a nation can speed up exponentially as debt rises especially if there is no plan to deal with the problem.

    "The urge to save humanity is almost always a false front for the urge to rule." --HL Mencken

  2. #2
    #NeverTrump
    a351's Avatar
    Join Date
    Oct 2011
    Location
    Space Coast
    Last Seen
    09-09-17 @ 08:54 AM
    Gender
    Lean
    Centrist
    Posts
    6,902

    Re: US Credit Rating Cut by Egan-Jones ... Again

    Quote Originally Posted by LowDown View Post
    US Credit Rating Cut by Egan-Jones ... Again - US* Business News - CNBC



    The new round of quantitative easing is widely regarded as an effort on the part of Bernanke and the Fed to help Obama .
    Actually, it's widely regarded as a move aimed at aiding financial institutions. That is, after all, part of the Federal Reserve's responsibilities. Do you expect them to postpone measures that they feel aid the economy as a whole to suit your chosen fancy?

  3. #3
    Professor

    Join Date
    Sep 2011
    Last Seen
    10-28-16 @ 07:51 PM
    Gender
    Lean
    Independent
    Posts
    1,526

    Re: US Credit Rating Cut by Egan-Jones ... Again

    Quote Originally Posted by Hare View Post
    Actually, it's widely regarded as a move aimed at aiding financial institutions. That is, after all, part of the Federal Reserve's responsibilities. Do you expect them to postpone measures that they feel aid the economy as a whole to suit your chosen fancy?
    One problem with that. This is already caused the dollar's value to fall. Immediately, stocks and commodities have jumped. One vital commodity necessary for economic growth is oil. This move is causing oil prices to go up. Any stimulus this move creates will get eaten up by the increase in oil which will subsequently cause EVERYTHING to rise in price, especially food.

  4. #4
    Curmudgeon


    LowDown's Avatar
    Join Date
    Jul 2012
    Location
    Houston
    Last Seen
    Today @ 08:16 AM
    Gender
    Lean
    Libertarian
    Posts
    11,542
    Blog Entries
    11

    Re: US Credit Rating Cut by Egan-Jones ... Again

    Here's more:

    Fed risks political fallout from QE3 - FT.com

    The opinion of what the Fed is doing breaks down along party lines.

    "The urge to save humanity is almost always a false front for the urge to rule." --HL Mencken

  5. #5
    Professor

    Join Date
    Sep 2011
    Last Seen
    10-28-16 @ 07:51 PM
    Gender
    Lean
    Independent
    Posts
    1,526

    Re: US Credit Rating Cut by Egan-Jones ... Again

    Not surprising. Dems think it will help Obama, GOP thinks it will hurt Romney. Too bad is just screws the rest of us.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •