NEWS: US Credit Rating Cut

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SATURDAY, SEP 15, 2012| 4 comments

US Credit Rating Cut

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.

In its downgrade, the firm said that issuing more currency and depressing interest rates through purchasing mortgage-backed securities does little to raise the U.S.'s real gross domestic product, but reduces the value of the dollar.

In turn, this increases the cost of commodities, which will pressure the profitability of businesses and increase the costs of consumers thereby reducing consumer purchasing power, the firm said. ...

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· Page 1 · Found: 4 user comment(s)

9/15/12 12:02 PM

jpw

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the petrodollar in a free fall!

what wore can we start? what surviellance economy can we generate?

someone quick, think of a new global tactic to "create jobs"?

(why use the land and feed ourselves when there's so many trees to make into paper?)

those silly Russians starved with all that beautiful land around them. what were they thinking?

ha! cut down your apple tree and donate it to the fedups to print money. this is what we need!

9/15/12 11:49 AM

San Jose John

| San Jose, CA

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Russ wrote:
Easy- print more money.

Yep. Print more money to buy more US securities and treasuries in order to try to keep interest rates low so we can re-inflate the housing bubble--or at least keep home prices from falling before the election.

Inflation? What's that?

9/15/12 6:54 AM

Russ

| Texas

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Easy- print more money.

9/15/12 12:18 AM

mjg fayetteville

| NC

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I wonder how the Obama campaign is going to answer this one

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