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Fitch-Slapped
"It is a truism that the US government cannot run out of money to service its debts", Fitch writes,
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That took guts. They are right, of course. If they really wanted to do it right they would have pushed the rating to AA+. (Just to see Trump’s reaction on tweet weekend.)
It reminds me of a joke Christians tell. ‘In 1882, Nietzsche pronounced God is dead. In 1900, God pronounced Nietzsche dead.’
I doubt the three ratings agencies with the U.S. government NRSRO oligopolic seal of approval would ever be appropriately hard on the U.S. government.
LOL.
Haha, article title of the month, we’ve been Fitch-Slapped indeed…
How does paying back creditors with counterfeit money not result in a subprime rating? They should not bother issuing a rating if they just repeat “truisms”
It’s not “counterfeit money”.
Yeah it’s backed by the full faith & credit of the U.S.
It’s the double whammy, the debt but also the denominator surely plays a big role with a such a huge contraction and effects of lockdowns in place I’m expecting that ratio to balloon very quickly…
Velocity of M2 Money Stock ; 1.097 Call me an old idiot from1970’s economics but this economy still needs a shot of ether in the carb
We are setting the stage for stagflation 3 years from now. We can only fight that with a robust GDP now. V is out shoot for W or dull dull dull 2025