August 8, Michael Davis, economics professor at the Cox School of Business, SMU Dallas, for a piece examining the impact of the debt downgrade and how that may indicate U.S. economic troubles ahead. Published in Fox News Business under the heading U.S. debt downgrade could mean trouble ahead. We should heed the warnings: https://tinyurl.com/3te6jmku
Recently Fitch’s, a service that rates the quality of bonds, downgraded U.S. Treasuries from AAA to AA+.
Bad news, right? I mean if your credit score went down wouldn’t you be at least a bit worried – especially if you were about to shop for a new car? Of course.
And so shouldn’t you worry that your government – which every day borrows enough money to buy about 82,000 new cars – is seeing their credit score go down? Yeah, you should.
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