by Lol Biden’s consigliere didn’t see this one coming… The United States faces serious long-run fiscal challenges. But the decision of a credit rating agency today, as the economy looks stronger than expected, to downgrade the United States is bizarre and inept.— Lawrence H. Summers (@LHSummers) August 1, 2023 GOP is going to be all over this Biden downgrade… 😂😂😂Biden Treasury is having to increase the Biden UST issuance by T in order to pay the additional T Biden interest on the USTs due to the Biden rate increases due to the Biden inflation … 😂😂😂The US Treasury boosted its estimate for federal borrowing to trillion for the current quarter as it continues to replenish its cash buffer https://t.co/iXXL6ESmcw— Bloomberg Economics (@economics) July 31, 2023 This is the
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lol Biden’s consigliere didn’t see this one coming…
The United States faces serious long-run fiscal challenges. But the decision of a credit rating agency today, as the economy looks stronger than expected, to downgrade the United States is bizarre and inept.
— Lawrence H. Summers (@LHSummers) August 1, 2023
GOP is going to be all over this Biden downgrade… 😂😂😂
Biden Treasury is having to increase the Biden UST issuance by $1T in order to pay the additional $1T Biden interest on the USTs due to the Biden rate increases due to the Biden inflation … 😂😂😂
The US Treasury boosted its estimate for federal borrowing to $1 trillion for the current quarter as it continues to replenish its cash buffer https://t.co/iXXL6ESmcw
— Bloomberg Economics (@economics) July 31, 2023
This is the hyperinflationistas dream scenario they have been predicting for decades… having to issue Treasuries in order to pay the interest on the Treasuries..
This is textbook Art degree moron hyperinflationista 101…. These zombies are probably all foaming at the mouth…
I wouldn’t think this development (the embarrassing credit downgrade) would tend to politically motivate the Biden people towards more rate increases.. perhaps the opposite…
Fitch is based in UK and US probably thinks the US rates are too high compared to the UK hence the downgrade of the US … UK rates would have to be well over 10% to be comparable to current US 5.5% rate… with UK CPI at 8% and US CPI at 3%…
Downgrade came soon after US Fed psycho’s latest rate increase in the face of continued reduction in US CPI…
Fitch probably justified in its decision… if the Art degree Fed psychos keep going like they have been the fiscal interest income will get so large it will most likely destabilize US prices towards rapid increase eventually…
Probably Fitch’s way of telling the US Fed psychos “enough already!”…