Skip to comments.Moody's May Rate Treasuries AAA, But Central Planning Scores An F
Posted on 09/19/2012 3:59:35 AM PDT by billflax
Federal indebtedness recently surpassed $16 trillion. Moodys quickly reiterated that Americas debt rating could be cut if Washington fails to navigate the approaching fiscal rapids. Can Congress keep the state ship afloat? They cant even pass a budget. Meanwhile, with QE3, Ben Bernankes Fed cast credibility overboard by nakedly politicizing monetary policy.
Unfortunately, deficits and rate manipulation have muddled recovery. With currency no longer anchored to the certainty of gold and the Constitution no longer Americas political compass, Washington has led the economy adrift. Whatever Moodys ultimately scores Treasuries the central planners are lost at sea.
Washington gets an F.
(Excerpt) Read more at forbes.com ...