Skip to comments.US Credit Rating Cut by Egan-Jones ... Again
Posted on 09/14/2012 1:34:00 PM PDT by shove_it
Ratings firm Egan-Jones cut its credit rating on the U.S. government to "AA-" from "AA," citing its opinion that quantitative easing from the Federal Reserve would hurt the U.S. economy and the country's credit quality.
In its downgrade, the firm said that issuing more currency and depressing interest rates through purchasing mortgage-backed securities does little to raise the U.S.'s real gross domestic product, but reduces the value of the dollar.
In turn, this increases the cost of commodities, the firm said.
In April, Egan-Jones cuts the U.S. credit rating to "AA" from "AA+" with a negative watch, citing a lack of progress in cutting the mounting federal debt.
(Excerpt) Read more at cnbc.com ...
Their running the presses 24/7 now. The Currency in Circulation has exploded. That Means the existing dollars are worth less with each whirl of the Printing presses. It will take more and more of them just to pay our taxes.
Better start running negative o-hole ads about this. seriously.
Empty chair ads. Downgraded twice. Empty chair with Obama logo.
US embassy in Egypt - had 48 hours notice of problems, did nothing. US ambassador killed because Obama did nothing.
Empty chair with Obama logo.
Where is Obama when the US credit rating slips twice, never happened in history before, when the US middle east embassies are under attack and a US ambassador gets raped and killed?
Focus in on a damn golf course. 2012 - When someone does a terrible job, we fire them. No More Obama. End credit.