US credit rating downgraded again thanks obama and bernanke
CNBC Sept 14 2012 - US credit rating cut by Egan-Jones again.
Obama administration "pumping" or overprinting money is blamed
for the credit downgrade to AA- from AA.
S&P also rates US credit at AA-, and Moodys Investor Service also downgraded
US credit last year and will do again if the Democrat majority
Senate does not pass a budget. (The republican House has passed
several budgets only to be blocked by Democrats in the Senate)
The US has long enjoyed a AAA credit rating until two years after
Obama was in the White House.
Any money assets you have will lose value even stocks as the stock cap gains must exceed inflation and taxes just to break even. Devaluing money is a way for government to spend the money stuffed in your pillow because it will keep losing value from the inflation they caused. This is the behavior similar to a 3rd world country, a banana republic. Maybe I should buy Harleys with my lifelong savings!