Before these last few years, I never thought I’d see the day when something like this could happen. I honestly and truly didn’t.
I don’t claim to be an expert on subject, of course. But it seems to me, even if we get the rating back in the future, the unshakeable certainty and “invincibility” of the U.S.’s fiscal reputation is gone forever.
I would worry less about the “reputation.”
IF we are able to reclaim the AAA rating, it will be because we have gone back to the free-market principles, limited government, and balanced budget that conservatives are demanding in order to fix this mess.
IF we get to that point, the AAA status will come back and it will be deserved and we’ll re-attain the benefits that go along with that.
But we are not going to do what is needed in order to reclaim the AAA status.
Long before that happens, the European economy will implode, we will implode, China will implode.
Our choices will either be another manufactured war to reset all debts and obligations or a global currency controlled by a global, central bank, which has been the goal of the central bankers and socialists for well over a hundred years.