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Little-Acorn
09-14-2012, 04:52 PM
After cutting the U.S. credit rating from AAA to AA+ in July 2011,
and cutting it again from AA+ to AA in April 2012,
Egan-Jones has cut our credit rating once again today, from AA to AA-, on Sept. 14, 2012.

There's a pattern here somewhere.

Is it November yet?

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http://www.cnbc.com/id/49037337

US Credit Rating Cut by Egan-Jones ... Again
Published: Friday, 14 Sep 2012 | 3:43 PM ET

By: CNBC.com With Reuters

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.

The Fed on Thursday said it would pump $40 billion into the U.S. economy each month until it saw a sustained upturn in the weak jobs market.

(Isn't that like saying, "The beatings will continue until morale improves"? -LA)

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.

In April, Egan-Jones cuts the U.S. credit rating to "AA" from "AA+" with a negative watch, citing a lack of progress in cutting the mounting federal debt.

red states rule
09-14-2012, 04:56 PM
I do know for a fact Obama did inherit a AAA crdit rating from Pres Bush

My only question is how will (and how fast) will Obama, Dems, and liberal media blame Bush and the Republicnas for this

Little-Acorn
09-14-2012, 05:13 PM
As noted in the article, the Fed Govt said it would keep printing money and buying up mortgages, to the tune of $40 billion a MONTH, until jobs start picking up.

What makes them think that printing money and buying mortgages, will have that effect?

This rating firm seems to think that just the opposite will happen.

How much more unemployment, people quitting and stopping even LOOKING for work, etc. will we have to incur, for how many years? Before the Fed finally decides that maybe they were wrong?

How long will we have to put up with these endless liberal academic theories and experiments, that use our NATIONAL ECONOMY as a guinea pig?