Posted on 10/17/2013 4:19:28 AM PDT by Oldeconomybuyer
The dollar and European shares fell on Thursday as market relief at a last-ditch U.S. budget deal gave way to worries over the economic impact of the 16-day government shutdown and prospects of a re-run early next year.
Chinese credit agency Dagong, downgraded the U.S. sovereign rating to A- from A with a negative outlook, driving further dollar losses.
(Excerpt) Read more at reuters.com ...
Obama’s march to destroy America continues unhampered. Thanks, republicans.
I was wondering what happened that made gold go straight up forty bucks.
Just coincidence I suppose that this happened after the deal was made.
Internet bubble.
Housing bubble.
US (junk) bond bubble.
Fed Res note bubble.
The latter two being started yesterday by a (now) un-checked issuance of federal debt.
dollar took a dump against the Colombian peso. The low info clowns need to understand that we, USA, has dropped well below countries that were once referred to as basket cases.
Reuters trys to blame it on the last 16 days! And the LIVs will believe it ...because they’ll believe anything the MSM tells them.
Really? Did Reuters survey the market? What might the survey question look like?
Perhaps: Does the explosion in public debt and inability to reduce its growth or a 16 day government "shutdown" worry you more?
We’re in an oil boom and the feds have us in a mini-bubble with housing. I can only imagine what happens when they drop.
This article is misleading. The dollar is sliding specifically BECAUSE the U.S. cut a deal to raise the debt ceiling and re-open the government. Many of these credit rating agencies are simply recognizing that the value of U.S. debt will decline over time due to currency inflation under this disastrous U.S. fiscal policy.
You know journalists know everything about the economy, even though they have never had an economics class in their lives. It has to be something other than Obozo.
Pray America is Waking Up
Yeah forward.
baraq wanted to increase our debt to pay for the existing debt.
baraq used the excuse that our country’s credit rating would suffer if we didn’t raise the debt ceiling, while this pos has presided over two credit rating downgrades based on his actions.
Despite the threats and blackmail, credit agencies will eventually speak the truth and downgrade us again.
“When your outgo exceeds your income, your upkeep becomes your downfall.”
Outside of America’s sycophant low-info crowd, intelligent people realize the situation just got a whole lot worse.
You are so right Alberta’s Child! I often wonder are people like the writer intentional misleading us or are that that STUPID. In any case there are going to be some very upset people when they realize they have been lied to. I just hope their rage is aimed at people like the author of this article
Thanks! Seems obvious to me. Why can’t anyone else see this?
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