https://www.bloomberg.com/news/articles/2023-05-26/china-s-top-rating-firm-downgrades-us-in-echo-of-global-rivalry?leadSource=uverify%20wall#xj4y7vzkgIt's over, the debt ceiling theater went on too long
>>55100390nobody will give a shit until moody's does nothing
>>551003901) Nobody cares about Chinese rating agencies.2) China is butthurt over Taiwan because they know if they try to take it US Navy will decimate them. Ignore China they are irrelevant with imploding economy.Only agencies that matter are US ones.
How is the debt ceiling still an issue for the US? It seems like something that both parties would recognise is a structural risk that is easily fixed by making it automatic like the rest of the world.
The US government isnt entirely retarded, they just know it's over and are trying to perform a controlled demolition of the US rather than an open collapse that they cannot influence.I for one find it hilarious and will be buying popcorn in bulk for the comfy burgerland chimpout streams once McDonalds and Walmart stop having product to sell :)
>>55100390Too bad we aren't going to default. We are going to print our way out of this.
>>55100420Ballooning deficits and debts are also a structural risk. Especially during times like the last year where central banks have to raise interest rates to combat inflation. It has gotten way more expensive for the US government to borrow money than it has been for the prior couple decades.
>>55100494defaulting is way more damaging
>>55100390Question is who cares about a Chinese credit rating firm?
>>55100390They aren't wrong.
>>55100390The Russians said this would happen
>>55101072Defaulting is giga-based as long as you never plan to borrow money again.
>>55101072a) Prove it.b) Getting nuked is way more damaging than surrendering to Soviets. Ideally you do neither.
>>55100439>print our way out of a situation when they've already printed so much that inflation is making it so that people won't be able to afford food within ten years at this pace
>>55100390thought they were already lower than that
>>55102152Default= loss of World Hegemony. Defaults are only beneficial in the case of being downtrodden, and rising to power like Hitler's Germany and the Versailles Racket Default.Nukes are not going to be launched and detonated. We have outer-crater beings (just the Breakaway Germans) that actively disable nuke and missile launches.
The free market can only be efficient if it allows businesses, no matter how big or small, to go bankrupt. Sadly, American politicians cannot understand this very basic fundamental principle and will bail out everyone and anyone over and over despite their shitty business practices.
Anyone else feels like we went back to 2008?
>>55102193>Default= loss of World HegemonyOh damn. That would end all the kickbacks I'm getting for being the citizen of a world hegemon. And as a non-world hegemon we might not be able to maintain our 13th place GDP/capita. Or our 5th place median income. And just forget about my dream to continue using one sixth of all government spending blowing up foreigners.
>>55102193>Default= loss of World HegemonyAmerica gained hegemony instead of losing it after it defaulted on gold contracts in 1933
>>55102331It's 1/8 on blowing up foreigners. SS is the largest expense. Most of it goes to keeping old farts and cripples alive.
>>55100417Ok pvt. Davido-kun
>>55100439>We printed our way into this mess>and we'll print our way out of itthe US one-trick pony showyeah, we are fucked
reminds me of when groups of hedge funds do reviews for other hedge funds
>>55100420The GOP has Biden by the balls, dumb faggot actually decided to negotiate lmao