Damn It, Janet! Moody’s Downgraded US Credit Outlook To Negative (Out Of Control Spending, Rising Debt And Deficits And A Deeply Divided Congress = Credit Downgrade)

Confounded Interest ^ | 11/11/2023 | Anthony B. Sanders

[Kaiser8408a]

Damn it, Janet (Yellen)! Moody’s just cut the US credit to NEGATIVE.

The primary reason for Moody’s downgrade of US credit? The absolutely insane ramp-up of Federal spending starting with the Covid outbreak in early 2020. And the subsequent economic shutdowns and the closure of public schools. But even as Covid faded to diminished status, Bidem demanded an increase in Federal spending. Well, Biden’s war (Ukraine) which looks like spending in perpetutity.

Of course, Biden/Congress love to spend money, but raising personal taxes to pay for it is political suicide. A private sector firm would cut spending to balance its budget, government simply doubles down on spending. Never let a crisis go to waste!

And The Federal deficit keeps on growing under Biden/Yellen’s economic reign of error.

After a disastrous 30Y bond auction this week, a collapse in Treasury market liquidity, and an accelerating rise in the market’s perception of the United States’ credit risk, Moody’s has just cut its outlook on US credit ratings to negative from stable.

[leaning conservative]

Yay us!!!😭😭😭

[FlingWingFlyer]

A “Moody’s Downgrade” is only bad when a Republican is running the country.

[ducttape45]

And yet the brain dead out there still think he’s doing a wonderful job! /sarcasm off

[ViLaLuz]

According to plan.

[PeterPrinciple]

We still have the best crappiest money in the world.

[Lee'sGhost]

So why isn’t gold on the rise?

[SaxxonWoods]

Better late than never.

[SaxxonWoods]

People have been asking that question for decades. Adjusted for inflation Gold hit its last high in the mid-80’s.

[Captain Walker]

We still have the best crappiest money in the world.

That's fine, but only for as long as all the money is crappy.

[LouAvul]

They’re right about all but a “deeply divided Congress.” Those pimps, to a person, are in it for the graft. Any resistance they parade is simply to make the fools (us) who keep electing them to office, think they’re doing something. They are not.

[SkyDancer]

Well at least my credit score went up, not saying anything about how the admin handles our credit/money.

[Liz]

Not to mention the dimwit Biden who caused all of it.

And yet, he doesnt even weigh in on the many catastrophes.

Just smirks......acts so sanguine....like he just happened by.

[brownsfan]

A crashing economy will make a Biden win more difficult to steal, but not impossible.

[fhayek]

Gold has been trending down. Bitcoin trending up. (Bitcoin did have a blip this week). For some reason, Bitcoin is the new flight to safety. I mean, I have nothing philosophically against Bitcoin, but, it is nothing (in my view) but pure speculation. Gold will be around long after all of us are gone.

[wardamneagle]

So why isn’t gold on the rise?

**********

Waiting for the BRICS currency to be invoked ?

[logi_cal869]

They got what they wanted.

Not much left til the crash.

[SeekAndFind]

Shouldn’t the curse be directed against both houses of Congress and Joe Biden first instead of Yellen or even the Fed?

[griswold3]

You know they are blaming any bad news on the Republican House. I admire their efforts to cut spending. We cannot continue a .$6T budget. are we exporting inflation with the global flood of reserve currency? We’ll soon find out how much our partners will take.

[napscoordinator]

They aren’t even doing their job which is passing a budget. They keep putting up useless bills that go nowhere and rightfully so. Do your dang ONE job.