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Moody's U.S. credit warning spooks world markets

phattonez

phattonez

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Moody's U.S. credit warning spooks world markets - USATODAY.com

LONDON — The United States and Britain must take action soon to get their public finances in order if they want to avoid threats to their top triple-A credit ratings, a leading credit ratings agency said Tuesday, accelerating U.S. and European stock markets' decline.

In an assessment of eight triple-A countries, Moody's Investors Services said the public finances in both countries are deteriorating considerably and may therefore "test the Aaa boundaries" in the future.
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Are you guys worried? Maybe debt does matter. So much for neo-classical and Keynesian policies; this may be the beginning of the fall back to earth. You can't bring about prosperity by acting like you're prosperous.
 
Yes, debt does matter. As a nation of individuals and in the top political ranks, we have been spending borrowed money like drunken sailors. Am I worried personally? No. Am I worried about the state and stability of the nation? Yes.
 
I don't know why this thread isn't getting more attention. This is kind of a big deal. We lose that AAA credit rating and we'll see some real problem with getting loans. If we don't want to have fiscal responsibility then it will be forced on us.
 
What's more likely to happen, since the borrower becomes enthralled to the lender, is that China will lend us even more.

The communists are selling the socialists the rope they need to hang themselves with. They're not going to stop just because some capitalist bank says it's a bad risk. There are more goals involved here than simple fiduciary responsibility.
 
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