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Fitch Ratings put the US government's "AAA" credit rating on 'rating watch negative' Tuesday, saying that the standstill on the U.S. debt ceiling negotiations risks undermining the effectiveness of the country's government and political institutions.

U.S. stock index futures fell.

"Although Fitch continues to believe that the debt ceiling will be raised soon, the political brinkmanship and reduced financing flexibility could increase the risk of a U.S. default," the rating agency wrote in a statement.

So, we may be downgraded if we pay interest on debt owed, while refusing to add yet more credit to blow... ...but WOULDN'T be downgraded if we psychotically INCREASE the magnitude of our ongoing insolvency? What individual American citizen receives this same treatment when they're broke and must borrow even more to pay current obligations? We are moving beyond the insane to the criminally insane rapidly.

GannonFan wrote:I honestly didn't know there was "Fitch" credit rating. Of course, after Moody's and S&P I really don't know what else is out there.

And yes, it does seem odd that the credit agency would be fine with taking out more credit that would be even more at risk to be repaid.

danefan wrote:

GannonFan wrote:I honestly didn't know there was "Fitch" credit rating. Of course, after Moody's and S&P I really don't know what else is out there.

And yes, it does seem odd that the credit agency would be fine with taking out more credit that would be even more at risk to be repaid.

Your own credit score can be improved by increasing your credit line as well as decreasing your debt.

Ultimately credit rating models are extremely complex. Mostly bullshit, but complex bullshit nonetheless.

remember those R/CMBS ratings? They worked out well.

Skjellyfetti wrote:Which is why it doesn't make sense to compare the credit rating of an individual to the credit rating of the most powerful country in the world.

SDHornet wrote:

Skjellyfetti wrote:Which is why it doesn't make sense to compare the credit rating of an individual to the credit rating of the most powerful country in the world.

Good point. I almost forgot, you are on board with a different set of rules for different sets of people.

Skjellyfetti wrote:

SDHornet wrote: Good point. I almost forgot, you are on board with a different set of rules for different sets of people.

Good point. I almost forgot, there is essentially no difference between an individual's finances and the finances of an entire country.

You can think they should be looked at similarly if you wish... but, don't be confused when credit rating agencies don't treat them the same. Most rational people are able to see there are slight differences.

danefan wrote:

GannonFan wrote:I honestly didn't know there was "Fitch" credit rating. Of course, after Moody's and S&P I really don't know what else is out there.

And yes, it does seem odd that the credit agency would be fine with taking out more credit that would be even more at risk to be repaid.

Your own credit score can be improved by increasing your credit line as well as decreasing your debt.

Ultimately credit rating models are extremely complex. Mostly bullshit, but complex bullshit nonetheless.

remember those R/CMBS ratings? They worked out well.

DSUrocks07 wrote:

danefan wrote:
Your own credit score can be improved by increasing your credit line as well as decreasing your debt.

Ultimately credit rating models are extremely complex. Mostly bullshit, but complex bullshit nonetheless.

remember those R/CMBS ratings? They worked out well.

Cluck U wrote:Anytime the big banks and the Chinese are upset that something will wreck their plans, I'm OK with it.

Default...and we will begin to see where our real priorities are and we also get to expose the wizard behind the curtain. That is a good thing.

DSUrocks07 wrote:

Cluck U wrote:Anytime the big banks and the Chinese are upset that something will wreck their plans, I'm OK with it.

Default...and we will begin to see where our real priorities are and we also get to expose the wizard behind the curtain. That is a good thing.

The irony in this is that the "evil corporations" and the Donks are on the same side on this. Very telling.

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DSUrocks07 wrote:

Cluck U wrote:Anytime the big banks and the Chinese are upset that something will wreck their plans, I'm OK with it.

Default...and we will begin to see where our real priorities are and we also get to expose the wizard behind the curtain. That is a good thing.

The irony in this is that the "evil corporations" and the Donks are on the same side on this. Very telling.

Sent from my HTC One V using Tapatalk now Free