Moody's downgraded the United Sates' credit rating for the first time in history citing unsustainable path for US federal debt and its resulting interest burden.

reuters.com

18 comments

It's okay, Trump doesn't need credit. He gets all the money he needs from Russia
- Money is what the plebs use to buy toilet paper. Data (and the control of it) is the new money.
lol
Causing problems so they can offer the solution - Central Bank Cypto Currency (CBDC).
The US can’t default on its debt. It’s unconstitutional, and the dollar is a fiat currency, so there’s no reason it would ever have to.
- That's a distinction without a difference. Issuing more fiat currency to inflate away burdensome debt service would also inflate away investors' gains from holding bonds.
  
  It’s absolutely a difference. Countries not sovereign in their currency (eg Greece) are slaves to the whims of the bond market. The US isn’t. The US doesn’t even have to issue bonds. It’s a relic of the gold standard.
  You say inflation like it negates what I said, but it doesn’t.
- Pretty sure it was unconstitutional for Zimbabwe's fiat currency to do the same. But it did.
  How high is Dollar inflation going to get now before people realize market forces don't care about their political feelings?
  
  How high is inflation now?

18 comments