The financial Ratings agency Fitch has downgraded the USA’s credit score.
It’s citing concerns about governance over the past 20 years and the fact that the government seems to borrow so much money year in year out with very little comeuppances.
The US is living beyond its means and that’s why interest rates are seeming going to be quite high for the foreseeable future.
The US Treasury Chief Janet Yellen is absolutely furious. She sees it as an attack on the dollar and is warning that potential investors may be weary of the US.
How will this impact on political parties because they are blaming each other over the downgrade?
On Inside Story, today we’ll be asking, is there an alternative to the power of the US dollar?
Who are the ratings agencies and what real influence do they have on the financial markets?
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Well well well well…baffling…..rare unexpected and unexplained ……
We are not recklessly spending……..😅😅😅😅😅😅😅😅😅😅😅😅😅😅
Our kids and grandkids stuck with our debt😢😢😢😢😢😢😢😢😢😢😢
That’s not how national debt works…
If our debt was zero, the workers and consumers would have no money. we are not on the gold standard anymore.. National debt is not the same as household debt…
Well, when you’re deliberately trying to destroy the economy so you can replace it with the digital dollar and ESG scores while rolling out the Socialist New World Order based on Agenda 21 principles disguised as climate change( geoengineering ) it’s to be expected.
TAX THE PEOPLE WHO HAVE ALL THE MONEY ! They pay very little percentage wise or none at all . SS payments should not be limited. 🇺🇸🙈🇺🇸🙈🇺🇸🙈😱😱😱
Scrap the cap!
This is 100% orchestrated. Nothing grows forever while maintaining its current “dna”. Either it changes form/”dna”, or it stops growing. Economic growth has a limit.
The rating company isn’t wrong. I just wonder how many times this has happened before, as I remember the incredible debt the U.S. had when Reagan was president, due to building more weapon systems and nuclear bombs.
America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, invessting is the only way most people will ever have enough money to retire.
Most of the expensive real estate is near the coastline. With rising sea levels these areas will probably see a decline in value. America is a huge country and will have to deal with a different type of climate concern in each geographical region. The lack of political will to deal with climate change is a tremendous existential risk. Perhaps, they should look beyond solar panels and renewable energy and invest in disaster management strategies. The climate is changing and the world doesn’t care because we must all stop at once, which is unrealistic. We are bracing for a collision instead of preventing it at this point in time. The USA should prepare for the impacts of climate change instead of slowing it down.
Quite frankly I have no idea why all world currencies are pegged to the USD , they have been in trouble for a long time , owing China billions is not a good thing
The US only remains a super power as long as the world is willing to lend us money.
That’s on you, Murica…