US Credit Rating Cut by Egan-Jones ... Again

[Valin]

CNBC:

9/14/12

 

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.

 

The Fed on Thursday said it would pump $40 billion into the U.S. economy each month until it saw a sustained upturn in the weak jobs market. (Read more: Fed's 'QE Infinity' — Four Things That Could Go Wrong)

 

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.

 

(Snip)

[Draggingtree]

Barack Obama: The Anti-Midas

 

Barack Obama Presides Over Second US Credit Downgrade

 

By: streiff (Diary) | September 15th, 2012 at 09:49 AM | 2

We’re all familiar with the story of Midas, the fabled king with the golden touch. We, it seems, are doomed to live while Barack Obmaa, the anti-Midas, bumbles through history.

Passing under the radar last week, while the media was engaged in an orgy of congratulating Barack Obama on his masterful foreign policy that led to two embassies being sacked and an ambassador and other staff being killed

[Valin]

@Draggingtree

 

I've been reading that Moodys might very well be next