Egan-Jones cuts US rating

[OmahaBlueDog]

Source: Financial Times via Financial Express

Egan-Jones has become the first US rating agency to downgrade the country’s sovereign credit rating from triple A to double A plus as it focuses on the rapid rise in outstanding debt over the past five years, writes Michael Mackenzie.



Read more: http://www.financialexpress.com/news/EganJones-cuts-US-rating/819637/

[valerief]

1. The dollar won't be worth a sou if the Rethuglicans have their way. nt

[FreakinDJ]

2. Why not - dollar was based on GDP of Working Class

now its at the whim of the Chinese Communist party

[checks-n-balances]

3. * Gulp *

I hope this isn't signaling an avalanche.
:scared:

[Journeyman]

4. So the downgrade is in response to the "rapid rise in debt" and not the debt ceiling argument. . .

an event that, if I understand it correctly, would probably bolster the Republicans argument against the debt itself -- irrespective of the ceiling.

Can someone tell me if I misunderstand this, or if my assessment is correct? And how does Egan-Smith's focus on investors and not issuers of debt influence their decision?