patrick.net

Ratings companies are as insider as you get, and even they see the ship starting to sink. Accept reality or sink deeper into denial, choice is yours.

clambo says

the US Treasury is borrowing money from Americans and foreigners to pay to welfare queens, health care for illegals, giant pensions for retired government goldbricks, etc.

Don't forget the hundreds of billions in gifts to US weapons makers as "aid" to Ukraine.

Or the hundreds of billions to Pfizer and Moderna to poison the public and shorten their lives.

Come to think of it, the money for death jabs could actually pay off in reduced social security costs.

komputodo says

Of the 3 ratings companies, Moody's, Standard & Poor's, and Fitch, why is it always fitch that lowers ratings first?

S&P did it back in 2011, iirc.

Patrick says

Don't forget the hundreds of billions in gifts to US weapons makers as "aid" to Ukraine.
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Forget nothing but don't spread bs either:



Also don't forget $350B of Soviet money stuck in the West which are used to pay for this adventure.

RWSGFY says

Forget nothing but don't spread bs either:

OK, hundred billion.

RWSGFY says

Also don't forget $350B of Soviet money stuck in the West which are used to pay for this adventure.

Epic foreign policy mistake.

No country will really trust the US with their assets anymore.

HeadSet says

You are joking, right? Plenty of credit unions are offering 1-year CDs that pay 5%. That would be your $1,000+ per month right there.

I know. Just bought some 3 month at 5.0% and 6 month at 5.2%.

Regular savings account should be 5% worry and effort free. A CD should pay 10% plus.

We have lived in imaginary money land for so long that some younger people don't even know what fiat money means.

RWSGFY says

Forget nothing but don't spread bs either:

When someone is obviously laundering money, do we really give a fuck about the details of the laundering?

Rubicon says

Isn’t the fitch downgrade a total nothin burger? It’s due to the risk that the debt ceiling talks result in a no-deal at some point. Which we all know they won’t.

Would anyone in their right mind buy bonds from Mexico, Canada, Germany etc over US treasuries? We are THE power house. King dollar. Nobody even comes close.

Wait, you didn't hear that BRICS is the hot shit now? =))

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A lot of this is based on what the debt payment is based on percentage of total budget and also discretionary budget.

One way to determine if it is sustainable is if debt to GDP ratio continues its downward trend to below 100%.

This will bring it to a level last observed during Obama's second term.

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Rubicon says

Would anyone in their right mind buy bonds from Mexico, Canada, Germany etc over US treasuries?

Who in their right mind would buy US treasuries?

You lose money on it every year. Another investment in just about ANYTHING else is better.

richwicks says

Rubicon says

Would anyone in their right mind buy bonds from Mexico, Canada, Germany etc over US treasuries?

Who in their right mind would buy US treasuries?

You lose money on it every year. Another investment in just about ANYTHING else is better.

Right, it's the wrong question. Why would anyone buy treasuries that are paid back with inflated fiat. Mostly foreign nations/players who are betting that the currency they are paying with devalues faster than the dollar. The Euro has actually outperformed the dollar lately again since the big dip in fall 2022, although it's in the middle of its all time channel, roughly between $0.50 and $1.50

Buffet says the rating downgrade litterally doesn't matter. It is not even worth thinking about.

mell says

Right, it's the wrong question. Why would anyone buy treasuries that are paid back with inflated fiat. Mostly foreign nations/players who are betting that the currency they are paying with devalues faster than the dollar. The Euro has actually outperformed the dollar lately again since the big dip in fall 2022, although it's in the middle of its all time channel, roughly between $0.50 and $1.50

It's because political leaders are bribed to do a bad investment. The leaders don't pay for it, the population does.

That's the scam.

That's the real reason. 40 years ago, "you had to support the United States, there's that SCARY USSR AFTER ALL!", but that ended in 1991. That's why the US is desperate to restart the Cold War in my opinion.

A logical thing to do is to collect resources. Qaddafi did this, he was killed, Hussein did this, he was killed, Assad is doing this, they are trying to kill him, Putin is doing this, they're trying to kill him, Xi is trying to do this, and we're threatening war.

The Federal reserve is our government.

Rubicon says

No other country comes even close to dethroning us. Don’t waste your time with the downgrade. It doesn’t matter.

England said the same thing at one point.

The end will be quick.

Hyperinflation isn't an economic event, it's political. What will happen is foreign nations will simply stop accepting the dollar, and will instead demand that the US purchase in THEIR currency.

The SWIFT system was state of the art, 70 years ago. It's trivial to replace now. Every transaction in US currency is basically a taxation on the transaction. The US only remains the world reserves currency as long as the majority of actual stakeholders in the modern economy believe it to be in their interest.

We have the worlds largest debt, we don't have a productive economy anymore, our financial system is filled with fraud, our military lies us into endless wars, and we're threatening Russia and China both. I won't be surprised if the State Department is controlled by a 5th column, because they can't be this fucking stupid.

“military lies us into endless wars,”

The military has no say in who they fight. ALL wars are started by politicians.

Fitch is actually the last ratings company to do this, not the first. As RWSGFY mentioned, they are about 10 years behind.

HeadSet says

“military lies us into endless wars,”

The military has no say in who they fight. ALL wars are started by politicians.

"Military analysts" are just "ex" military representing the Offense Contractors getting on television endlessly explaining on the propaganda box why we need to go to war.

Don't say the military has nothing to do with this. Colin Powell lied us into Iraq.

The military has completely betrayed the nation, every institution we STUPIDLY allow to continue to exist, has.

#Bidenomics

richwicks says

t "ex" military representing the Offense Contractors

Look at the Hunter Biden laptop memo sent to social media and mainstream media. A lot of the signatures were not Democrat ideologues and socialist kool aid drinkers like John Brennan. Some of the signatures are from Republicans, at least RINO's or "moderates" who have ties to the military establishment and contractors.

And the same RINO's are making sure Birdbrain Biden returns favors to them for signing that Hunter Biden laptop memo.

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Debt to GDP ratio continues to trend downward, it peaked at 135% and now is 118%. It was 105% when Obama left office.

Notice the steady increase in the work participate rate for those 18 to 60. That may help to lower the Debt to GDP ratio.
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ad says

richwicks says

t "ex" military representing the Offense Contractors

Look at the Hunter Biden laptop memo sent to social media and mainstream media. A lot of the signatures were not Democrat ideologues and socialist kool aid drinkers like John Brennan. Some of the signatures are from Republicans, at least RINO's or "moderates" who have ties to the military establishment and contractors.

And the same RINO's are making sure Birdbrain Biden returns favors to them for signing that Hunter Biden laptop memo.

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We're under the rule of sociopaths. They have no political ideology. They realize that war is profitable, so they make war. It's as simple as that.

There's no mission to win any war, no plan to win any war, it's just to make war and like it or not, this seems to be dominated by Zionists. I am understanding history better. These people, if you can call them that, are fucking insane. If I could kill you for 100 million dollars and get away with it without any chance of being held accountable, I wouldn't do it - of course. These assholes would, for $10.

We are honestly ruled by sociopaths and people either don't recognize it, can't believe it, or don't care. I'm tired of the cattle.

The sociopaths don’t just kill for money, they kill for power, the blood lust, and to placate their master, Satan.

I keep seeing images of that lady in The Big Short.

The bond rating funky with the medical glasses.

PeopleUnited says

The sociopaths don’t just kill for money, they kill for power, the blood lust, and to placate their master, Satan.

They seem to like kill, they certainly seem sadistic.

Discover Card profits are crashing due to credit card writeoffs: https://www.bloomberg.com/news/articles/2023-10-18/discover-profit-tumbles-33-as-credit-card-write-offs-mount

This is a harbinger as far as economy. Biden and Dems are in a squeeze if there is at least no recovery by August 2024.

Financial Select Sector SPDR Fund is down about 23% from its all time high in January 2022.

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