Monday, September 17, 2012

Did You Know...Give Me Some Credit

U.S. Credit Rating Quietly Downgraded Again
In a little publicized statement, credit rating agency Egan-Jones responded to last week's announcement of additional QE by immediately downgrading the U.S. from "AA" to "AA-". The firm noted that QE does very little to boost real GDP and merely devalues the dollar.


It looks like the Treasury and currency markets agree with Egan-Jones. The dollar index fell sharply following the Fed announcement and interest rates on Treasuries surged. Investors weighed the inflationary risks of holding dollars and decided to dump them.

And more at...

http://www.foxbusiness.com/government/2012/09/14/fearing-qe3-egan-jones-downgrades-us-again/