So Standard and Poors cut the US credit rating to AA+. It's not really going to do anything at all. People still gonna invest money.
Couple of reasons -
The credit rating denotes how willing a country is to pay back their debts and how likely they are to default. AAA means they make every effort to pay and there is zero chance of default. AA+ means a hair less likely to pay back their debts and a 0.something % chance of default.
Also, Standard and Poors are a fucking joke.
Well, I hope everything turns out for the best. I don't want to find myself in a huge (bigger) crisis.
ReplyDeletei hope this gets better with time
ReplyDeleteNot worried about the credit rating.
ReplyDeleteAm worried about the stock market on the downturn again and unemployment going up again.