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Started By
Message
re: Stock Market Crashing after Fitch downgrade. CEA Chair blaming, drum roll, Orange Man Bad.
Posted on 8/2/23 at 12:02 pm to SlidellCajun
Posted on 8/2/23 at 12:02 pm to SlidellCajun
quote:
We are above our GDP in debt and when that happens, we are over leveraged as a nation. That calls into question the ability to pay on the debt obligations or bonds that are issued.
The debt service on $32 trillion of US debt is approaching $1 trillion/year
0
Posted on 8/2/23 at 12:02 pm to ELVIS U
This is just the beginning. All you have to do is look at the last and only other time it was downgraded in 2011 under Obama. It will be a long and steady decline. Odd how the only 2 times in the history of our country that our credit rating was downgraded was under Obama and Biden. Yet somehow its suppose to be the Presidents fault that was smashing economic records daily. Nice logic.
Posted on 8/2/23 at 12:11 pm to MikkUGA
read the actual fitch report rather than msm news
fitch sez the last 20 years of DC inability to effectively manage a budget has allowed deficits to get out of control
fitch sez the debt/gdp ratio is far out of line high compared to well governed countries
Fitch makes no mention of democrat, republican, left, right, woke, socialist, Soros, wef, contribution to the reduction
fitch sez the last 20 years of DC inability to effectively manage a budget has allowed deficits to get out of control
fitch sez the debt/gdp ratio is far out of line high compared to well governed countries
Fitch makes no mention of democrat, republican, left, right, woke, socialist, Soros, wef, contribution to the reduction
Posted on 8/2/23 at 12:12 pm to MikkUGA
quote:
This is just the beginning. All you have to do is look at the last and only other time it was downgraded in 2011 under Obama. It will be a long and steady decline
Wut
Posted on 8/2/23 at 12:30 pm to GumboPot
quote:
We need a correction
This is a profound statement.
This country needs a major correction of direction.
Posted on 8/2/23 at 12:30 pm to JohnnyKilroy
The only 2 times in the history of this country to have our credit down graded....2011 and now. Under Obama and Biden. You do speak English don't you? Of course the democrats will do any and everything to deflect blame because they never do wrong. It's just a coincidence that everything always goes to shite when they are in charge.
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