Wall Street Silver@WallStreetSilv
This is not Apple, Nvidia, or Tesla. It is the US national debt which has grown by $1.3 trillion in the past 8 weeks since the debt ceiling was suspended.
https://www.cnn.com/business/live-news/stock-market-news-today-credit-downgrade/index.html
The Biden campaign pointed to Trump-era problems, calling Fitch's decision a “Trump downgrade."
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Every time Biden is in the White House, America’s credit rating gets downgraded
August 1, 2023
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WHAT'S UP WITH BIDEN??????!!!!! SCARY!!!
The number/chart to look at is not US debt, but rather, US debt as a percentage of GDP. It's been trending higher for decades.
It also matters where interest rates are. At near zero, it matters much less. Now, the interest on the debt becomes unmanageable going forward. That's a big problem and neither party cares. Why don't they care? Because the evidence of decades of elections proves that voters don't care.
As for the downgrade. We have the most prosperous country on earth. Historically low unemployment. The most innovative economy on earth. Declining inflation (lower than our main competitors). Where are you going with your money? Europe? They are worse off than us. China? They can nationalize your investments whenever the dictator says. Russia? Are you kidding me?
As Jamie Dimon, CEO of JP Morgan said of the downgrade: "It's ridiculous".
Those are all solid points that I agree with, joj!
Especially for the much higher interest on the debt.
Let's dial this in too:
How likely are you to live to 100? Get the full data
More than a quarter of children aged 16 will see their 100th birthdays
https://www.theguardian.com/news/datablog/2011/aug/04/live-to-100-likely
So the question is, how does the U.S. afford taking care of this massively growing elderly population?
Answer: It can't. The math doesn't even come close to adding up. The longer we delay fixing the broken system, the more devastating it will be when it's so broken that it fails to function properly.
We must take extreme, intentional but very painful measures ASAP(that we have some control over) to avoid causing a period when those choices are no longer options and potentially catastrophic consequences happen all at once and we are left just trying to pick up the pieces of whats left.
Everything is still there now but not for long with these dysfunctional economic dynamics.
I know that we've heard this for decades by some of the same people and this is exactly why America is so complacent.
It's the "Boy that cried Wolf syndrome" and Americans/politicians are the village people.
However, to ignore that there really is a figurative wolf out there is to ignore some pretty obvious math that projects impossible scenarios.
It's tough but the cuts MUST be made to the most wasteful expenses. Tops on my list would be 700 billion for the fake climate crisis and over 100 billion to kill people in Ukraine.
https://apnews.com/article/credit-rating-downgrade-deficit-68fb6c578190d8361b6639e603714e5a
I completely respect your views, joj but we are literally watching the U.S. fall apart in real time, in an historic sense. Living history that children not born yet will read about in their history books.
The credit ratings drop is only the beginning. Focus on the positive things in your life the next 2 years and don't let the propaganda, false narratives, political garbage, DISinformation and junk science wreck your appreciation for life.
The amount of political turmoil and chaos coming up will exceed anything that most of us have ever experienced and despite us being told all these great things about the US, much of the world is seeing things differently.
https://www.heritage.org/monetary-policy/commentary/the-decline-and-fall-the-us-dollar
This article is obviously written by a person from the other party but thats the way it is today. If you want the truth about most things, you have to get it from a person that isn't part of the party lying to you about that topic )-:
Previous discussion:
AN INTERESTING TAKE ON THE U.S. DOLLAR
Started by 12345 - May 7, 2023, 8:13 p.m.
https://www.marketforum.com/forum/topic/95012/
Killing the US dollar in global markets
12 responses |
Started by metmike - April 4, 2023, 11:22 p.m.
https://www.marketforum.com/forum/topic/94351/
Dollar Index
Started by metmike - April 26, 2023, 12:25 p.m.
https://www.marketforum.com/forum/topic/94783/
https://apnews.com/article/credit-rating-downgrade-deficit-68fb6c578190d8361b6639e603714e5a
https://www.washingtonexaminer.com/news/white-house/biden-attacks-gop-fitch-downgrade
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Many Ds will compare Biden's divisiveness with Trump's REALLY REALLY extreme divisiveness to justify it.
Face it. Joe Biden is divisive as heck. His response to the credit downgrade..............shows exactly why they did the credit downgrade under his watch. He keeps dumping more and more fuel on the political divisiveness fire which is starting to burn down the future of our country instead of trying to put it out!
Get ready for the most political turmoil and chaos we've experienced since the Civil War. There's an extraordinarily high risk of it profoundly impacting the economy and future of our country.
When it happens, the window of opportunity to fix it will be long gone.
Our current false sense of security and complacency is woefully naive.
THE ONLY TIME I KNOW THE USA GOT IT'S CREDIT RATING LOWERED, IS WHEN BIDEN WAS VICE PRESIDENT! BEING HE'S THE CHOSEN PRESIDENT... IT WAS A GIVEN, IT'D HAPPEN, AGAIN! SKUNKS DON'T CHANGE THEIR STRIPE.
