U.S. Credit Rating Downgraded Again!

News Flash:

Well, it did not take long for the other shoe to drop.    Ratings firm Egan-Jones cut its credit rating on the U.S. government from “AA” to “AA-,” citing QE3(Infinity) from the Federal Reserve would hurt the U.S. economy and the country’s credit quality.    Yes, QE3 will hurt the US; however, central bankers will do just fine with all this new digitally produced fiat trash.

In its downgrade, the firm’s report stated that issuing more currency and depressing interest rates does little to raise the U.S.’s real gross domestic product.

Source: http://www.cnbc.com

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One thought on “U.S. Credit Rating Downgraded Again!

  1. Everyone with the slightest knowledge of economics and politics on YouTube and elsewhere on the Internet has written with 100% certainty “the power driven idiots will print to infinity — QE to infinity”. They have no other choice other than a very painful but brief DEEP depression that would deeply wound the world but NOT destroy it. By driving this bus with bald tires called planet Earth ever faster they WILL destroy the world with a real life Mad Max movie script – total anarchy to the point of Armageddon. Why do idiots paid seven figures commit the world to suicide when millions of “average Joe” types can tell them what WILL work but are NOT listened to? Using tax proceeds to buy votes guarantees the worst possible “leaders”. A FACT OF LIFE! Read the Fall of Rome – Rome fell the same way! They stamped coins first from silver in 264 BC then down to worthless zinc by 60 AD – until no one would accept Roman “coins”. It was NOT the Barbarians! They just showed up after the collapse to loot what was left.

    The economic cliff deeper than the Grand Canyon is now in sight and straight ahead. Not “if” but “when”. As they say in the movies as they get ready to jump from the sinking ship; “every man for himself!”. We are now at that point. Will metals go up or down? Should we invest in huge amounts of barter items? Me? Metals plus BIG quantities of cheap MUST HAVE items by the gross from Alibaba dot com. Tools, knives – things people will NEED in a Mad Max world. I even have 1200 bottles of vodka! Vodka was the ONLY liquor to go up in the 30’s (300%). Can’t moonshine it and it was a status symbol. People would leave empty vodka bottles sitting around their homes! Read up on the 30’s. Lots of good info! I just bought 10 gross of Chinese knockoff Leatherman type pocket tools for 90 cents each. Obvious knock-off but will still barter for $25 to those who need a Leatherman type tool with real ones selling for $500 (in a SHTF world). I have a room stuffed with toilet paper. Another with everything from matches to tarps to hammers, screw drivers etc. Buy at 15 cents – will barter for for 10x to 50x cost when Max shows up with his army. Umm – better include PLENTY of guns and ammo too or you’ll barter your goods for a price of FREE!

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