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Ratings Agency Egan-Jones Downgrades US From AAA To AA+

 
Constitutional American
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07/18/2011 10:31 AM
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Ratings Agency Egan-Jones Downgrades US From AAA To AA+
While others huff and puff, and threaten to do what had to be done ages ago, the one truly independent and capable NRSRO, Egan-Jones, downgraded the US from AAA to AA+ over the weekend.

From the release:

Real GDP increased at an annualized rate of 4.0% in Q1 2011, following an increase of 3.5% rise in the prior quarter. Personal consumption expenditures, exports, and nonresidential fixed investment contributed positively to growth during the quarter. Meanwhile, imports rose sharply. In the March 2011 quarter, trade in goods and services resulted in a deficit of $562B, many because of the high price of petroleum. However, the major factor driving credit quality is the relatively high level of debt and the difficulty in significantly cutting spending. We are taking a negative action not based on the delay in raising the debt ceiling but rather our concern about the high level of debt to GDP in excess of 100% compared to Canada's 35%.Nonetheless, since the US's debt is denominated in dollars, a hard default is unlikely.

More: [link to www.domasjefferson.com]
Anonymous Coward
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07/18/2011 10:48 AM
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Re: Ratings Agency Egan-Jones Downgrades US From AAA To AA+
should be an F



what a joke
Anonymous Coward
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07/18/2011 11:07 AM
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Re: Ratings Agency Egan-Jones Downgrades US From AAA To AA+
bumpbump
humanitech
User ID: 1472353
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07/18/2011 09:32 PM
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Re: Ratings Agency Egan-Jones Downgrades US From AAA To AA+
While others huff and puff, and threaten to do what had to be done ages ago, the one truly independent and capable NRSRO, Egan-Jones, downgraded the US from AAA to AA+ over the weekend.

From the release:

Real GDP increased at an annualized rate of 4.0% in Q1 2011, following an increase of 3.5% rise in the prior quarter. Personal consumption expenditures, exports, and nonresidential fixed investment contributed positively to growth during the quarter. Meanwhile, imports rose sharply. In the March 2011 quarter, trade in goods and services resulted in a deficit of $562B, many because of the high price of petroleum. However, the major factor driving credit quality is the relatively high level of debt and the difficulty in significantly cutting spending. We are taking a negative action not based on the delay in raising the debt ceiling but rather our concern about the high level of debt to GDP in excess of 100% compared to Canada's 35%.Nonetheless, since the US's debt is denominated in dollars, a hard default is unlikely.

More: [link to www.domasjefferson.com]
 Quoting: Constitutional American


Ha ha ha ha ha ...there is no credibility in any of these illegal rating agencies ...as they all exist within the same system ...which they meed to keep lying to stay afloat.
Constitutional American (OP)

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07/18/2011 10:20 PM
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Re: Ratings Agency Egan-Jones Downgrades US From AAA To AA+
bump

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