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Monday, September 17, 2012

Bad Omen: Egan-Jones Slashes U.S. Credit Rating in Response to Fed’s QE

On Friday, the independent and nationally recognized statistical rating organization lowered “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,” CNBC reported.

In April, Egan-Jones ratcheted down the U.S. credit rating to “AA” from “AA+” with a negative watch. The negative watch meant there was a 50% chance of the government’s rating being lowered within three months.
Egan-Jones said cranking up the printing presses and artificially lowering interest rates by purchasing mortgage-backed securities will not raise the real GDP but will instead reduce the value of the dollar.


Anonymous said...

The house Obama built.

A house of cards.

Anonymous said...

Georges scheme is going exactly as planned.

Anonymous said...

Oh this just quickens the fall of the Obama empire. If he wins this election, our nation will never recover.

Anonymous said...

Wake up people bush, Obama , scrawny chosen pawns for the corporations and global banking conglomerates that are destroying our economy and lining their already gluttonous pockets. The federal reserve is as federal as fed ex. This is just the next part in the scheme set in motion after the repeal of glass stiegel.