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November 28, 2011
The negative outlook indicates a slightly greater than 50 percent chance of a downgrade over a two-year horizon.
Credit ratings agency Fitch • Explaining the negative outlook they gave the U.S.’ AAA credit rating. Why the lower outlook? Well, they say there’s “considerable uncertainty surrounding the economy’s potential output.” Well, there won’t be as long as we can figure out a way to turn riots over $2 waffle irons into a sustainable moneymaking endeavor for the U.S. economy at large. We’re sure we can make it happen. Fitch’s downgraded outlook follows S&P’s straight-up downgrade a few months back. source (viafollow)
23:59 // 2 years ago
August 16, 2011
Fitch isn’t like S&P: Unlike the brouhaha about S&P downgrading the U.S. credit rating, our friends at Fitch aren’t going to rock the boat … well, unless Fitch decides to get in bed with Abercrombie again. Then we’re in trouble.

Fitch isn’t like S&P: Unlike the brouhaha about S&P downgrading the U.S. credit rating, our friends at Fitch aren’t going to rock the boat … well, unless Fitch decides to get in bed with Abercrombie again. Then we’re in trouble.

9:45 // 2 years ago
August 5, 2011
In short, S&P is just making stuff up — and after the mortgage debacle, they really don’t have that right. So this is an outrage — not because America is A-OK, but because these people are in no position to pass judgment.
Paul Krugman’s take on the credit-rating downgrade. Simply put, he thinks they’re douchenozzles who downgraded the credit rating despite some crappy math.
21:47 // 2 years ago
This was actually something that was stewing before S&P turned on the burners today, but it’s worth noting that the Treasury reiterated this point afterwards.

This was actually something that was stewing before S&P turned on the burners today, but it’s worth noting that the Treasury reiterated this point afterwards.

21:21 // 2 years ago

S&P downgrades US debt to AA+, the first debt downgrade in US history

kateoplis:

So, who are the last countries remaining in the Triple-A Club?

  • 1. Australia
  • 2. Canada
  • 3. Denmark
  • 4. Germany
  • 5. Holland
  • 6. Norway
  • 7. Singapore
  • 8. Sweden
  • 9. Switzerland

At risk of losing AAA Rating:

  • 1. Austria
  • 2. Finland
  • 3. France
  • 4. United Kingdom

“Keep in mind that Japan lost its AAA rating in the late 1990s. It was further downgraded earlier this year. It was as recently as 2009 that S&P cut Ireland’s AAA rating. Italy and Spain were both AAA rated in the 1990s, but Spain was actually raised back to AAA before losing it again in 2009.”

Read on.

20:55 // 2 years ago
Nate Silver, droppin’ some knowledge on the plebs.

Nate Silver, droppin’ some knowledge on the plebs.

20:51 // 2 years ago
July 19, 2011

Mitch McConnell’s “Plan B” may not be enough to secure U.S. credit rating

McConnell plan may not be enough for Moody’s: Some cautionary news on the United States’ triple-A credit rating today — Moody’s has been pretty open in saying the U.S. is risking a downgrade over the expanding debt and deficit. Senator Mitch McConnell’s fail-safe debt limit plan, which amounts to a transfer of power from congress to the President, would only occur if the “grand deal” President Obama yearns for (which would deeply cut spending and increase revenues at about a 3:1 ratio respectively) fails to catch on. Moody’s analyst Steven Hess estimates a whopping $4 trillion in deficit reduction might be needed to secure the triple-A rating. “I’d rather not opine on numbers in between,” he said. source

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14:42 // 2 years ago
April 18, 2011
Looking at the gulf between the parties, it has never been wider than now. It takes a lot of political will to bridge this gulf.
Standard & Poor’s global head of sovereign ratings David Beers • Suggesting that both parties aren’t going far enough to fix their deficit problem which could lead to a decreased credit rating down the line. Essentially, they think that the two parties are so divided that they won’t solve the problem. Standard & Poor has downgraded the credit rating of many countries of late, most recently Britain. source (viafollow)
12:59 // 3 years ago
Because the U.S. has, relative to its ‘AAA’ peers, what we consider to be very large budget deficits and rising government indebtedness and the path to addressing these is not clear to us, we have revised our outlook on the long-term rating to negative from stable.
A statement from the Standard & Poor’s • Revealing that, while they affirmed the United States’ spectacular “AAA” credit rating, they were suggesting the the outlook of said credit rating could go negative in the future. They want the country to figure out its budget mess by 2013. “If an agreement is not reached and meaningful implementation is not begun by then,” they write. “this would in our view render the U.S. fiscal profile meaningfully weaker than that of peer ‘AAA’ sovereigns.” Feel that? That’s the grumble of the money beast, wanting to be fed. source (viafollow)
9:52 // 3 years ago