Friday Night Lights up the News Dump
Sometimes interesting news is released on Friday evening after the bell or Saturday morning when the kids are asleep…
Global news outlets reported that Moody’s downgraded US debt. The latest of the big three agencies, after issuing a warning in 2023.
Fitch downgraded in 2023, and S&P in 2011.
The rationale is based on concerns about managing $36 Trillion in debt. According to the US Treasury:
https://fiscaldata.treasury.gov/americas-finance-guide/national-debt/
Here’s a novel “US Debt Clock” comparing multiple countries. Japan and Greece don’t look good. Switzerland, Sweden, and Taiwan do.
Bloomberg 4:48pm EDT: “US Loses Last Top Credit Rating With Downgrade From Moody’s”