Fitch Downgrades US Debt

The downgrades seems accurate to me. With how unstable the world is, I don&#x27;t think any entity should have AAA rating. The US I agree also has severe &quot;deterioration of governance&quot; in my opinion.<p>What I find despicable is that Yellen ignores all of this and calls the downgrade &quot;arbitrary&quot;. This is a slap in the face to the credibility of independence of the credit agency when the residing US Treasury Secretary tries to impose her opinion to deflate the agencies move.<p>Standard &amp; Poor&#x27;s downgrades its rating of the US credit rating from AAA to AA+ 10 years ago. And it&#x27;s still at that.

This will lead to further capital and capital reserve exodus from the dollar, and with it, adding slightly to inflation.<p>Note that the current economic cycle is akin to the Carter admin of the late 70&#x27;s, while 2&#x2F;3 of inflation was a result of supply-side profit-price spiral. The very rich did extremely well during and post pandemic, while everyone else was stuck with the &quot;check&quot;.

inevitable.

Until the “full faith and credit of the US Government” — the US Military — defaults we won’t have any problems selling our debt.<p>Sadly, that time is almost at hand.