U.S. No Longer AAA

[Darts]

according to one rating agency. ( I remember when Sun Life got downgraded when Canada lost its AAA rating.)

Fitch downgrades U.S credit ratings to ‘AA+’ from ‘AAA’ - Businessday NG

 

[stinkynuts]

Nasdaq drops more than 2% in worst day since February as Fitch downgrade ignites selloff: Live updates

Stocks hit selloff mode Wednesday after Fitch downgraded the long-term rating for the U.S. and risk-off sentiment resurfaced on Wall Street.

www.cnbc.com

I lost a ton of money yesterday and today because of the stock market jitters. Norwegian Cruise crashed 15% in two days, despite good earnings. Seems like the stock market is ready for a major correction. It was a good run though.

 

[sprite09]

according to one rating agency. ( I remember when Sun Life got downgraded when Canada lost its AAA rating.)

Fitch downgrades U.S credit ratings to ‘AA+’ from ‘AAA’ - Businessday NG

Yeah, happened back in 2011, as well [1].

[1]https://www.reuters.com/article/us-...a-credit-rating-from-sp-idUSTRE7746VF20110806

Agree with Dimon and Buffet, this is a nothing burger:

JPMorgan CEO Jamie Dimon calls Fitch Ratings U.S. downgrade 'ridiculous' but says it 'doesn't really matter'

In the wide-ranging interview, Dimon touched on topics including geopolitics, bank regulation, artificial intelligence and the direction of the economy.

www.cnbc.com

Warren Buffett explains the simple reason why the U.S. will never default on its debt

At the Berkshire Hathaway annual meeting, legendary investor Warren Buffett explained why even though the U.S. is borrowing record sums, there is zero chance of a government default on its obligations.

ca.finance.yahoo.com

 

[Valcazar]

In an attempt to help shield Biden from criticism, Fitch is trying to blame January 6th for the downgrade. "You have the debt ceiling, you have Jan. 6. Clearly, if you look at polarization with both parties ... the Democrats have gone further left and Republicans further right, so the middle is kind of falling apart basically," said senior director at Fitch Ratings Richard Francis.

The GOP threatened a debt ceiling default, so credit companies are downrating the US until the GOP is away from the bomb switch.

 

[jalimon]

IMHO, what caused the fitch downgrade, is Biden sending Billions and Billions of dollars to Ukraine!!

Or maybe the trillions given to the rich by Trumper ?

 

[Valcazar]

IMHO, what caused the fitch downgrade, is Biden sending Billions and Billions of dollars to Ukraine!!

Since you won't believe what the company actually says, you can make up whatever story you want.

 

[Anbarandy]

Nasdaq drops more than 2% in worst day since February as Fitch downgrade ignites selloff: Live updates

Stocks hit selloff mode Wednesday after Fitch downgraded the long-term rating for the U.S. and risk-off sentiment resurfaced on Wall Street.

www.cnbc.com

I lost a ton of money yesterday and today because of the stock market jitters. Norwegian Cruise crashed 15% in two days, despite good earnings. Seems like the stock market is ready for a major correction. It was a good run though.

So, you sold a bunch of shares from a bunch of different assets and equities on those days?

 

[stinkynuts]

So, you sold a bunch of shares from a bunch of different assets and equities on those days?

No, they were unrealized losses. Still down $50,000 or so.

 

[Anbarandy]

No, they were unrealized losses. Still down $50,000 or so.

So, you didn't "lost a ton of money".

 

[silentkisser]

IMHO, what caused the fitch downgrade, is Biden sending Billions and Billions of dollars to Ukraine!!

LOL. Fitch says its the constant brinksmanship played by the GOP behind the ratings cut. It's why S&P did it. It really has nothing to do with Ukraine. An argument could be made that Trump's addition of Trillions to the debt might have played a major role here...

Also, when I heard this, I KNEW the right would blame Biden for this, when Fitch basically says its the GOP playing games that is behind the decision...

 

[bengraysl]

Don’t trust any of the politicians and the people that have been hired by them.

 

[carsjunk]

USA has dropped in status around the world. No respect.

 

[dqsunday]

How is that possible?? Trump is no longer, the President!!

Buy Kodak if Trump
Wins .

 

[waiterelevator]

Buy Kodak if Trump
Wins .

Why buy a camera company if Trump wins?

 

[morgantownwv]

Why buy a camera company if Trump wins?

They now produce pharmaceuticals. Trump taking on the big pharmaceuticals and wants generic and that is what Kodak does.

 

[wakeforestnc]

They now produce pharmaceuticals. Trump taking on the big pharmaceuticals and wants generic and that is what Kodak does.

Thank you for the great advice.

 

[rattlesnakepoint]

They now produce pharmaceuticals. Trump taking on the big pharmaceuticals and wants generic and that is what Kodak does.

That is some smart thinking. I will take a look at Kodak and she how it was when Trump was in power. He will win again for sure.

 

[surestaybw]

A lot has changed in the US the last 8 years. The country is divided and it seems they are at two different spectrums. Too much division leads to chaos and the chaos stops innovation. Also other countries have lost trust in them as well.

 

[bondibeach]

Perceptions of global respect for the USA have shifted due to factors like divisive domestic politics and inconsistent foreign policy decisions, which have led to a perception of instability. Additionally, issues such as economic disparities and social unrest have raised questions about the country's ability to uphold its traditional role as a global leader.