return2ozma@lemmy.world to News@lemmy.world · 2 days agoUS completely loses perfect credit rating for first time in over a centurywww.newsweek.comexternal-linkmessage-square28linkfedilinkarrow-up1318arrow-down14cross-posted to: usa@lemmy.mleconomics@lemmy.ml
arrow-up1314arrow-down1external-linkUS completely loses perfect credit rating for first time in over a centurywww.newsweek.comreturn2ozma@lemmy.world to News@lemmy.world · 2 days agomessage-square28linkfedilinkcross-posted to: usa@lemmy.mleconomics@lemmy.ml
minus-squaregravitas_deficiency@sh.itjust.workslinkfedilinkEnglisharrow-up3·1 day agoThat’s not an immutable fact. As soon as US bonds are no longer considered “the safest investment”, the USD standard is going to get shaky, and people will probably start looking a lot harder at the Euro. In point of fact, a coordinated sell (or threat to sell) US bonds across several large countries and the EU was what actually made orangeboi back off on the tariffs initially. That is 4D geoeconomic chess, not this whinging about tariffs and revival of idiotic protectionist policies.
minus-squareDon_alForno@feddit.orglinkfedilinkarrow-up1·1 day agoThat is correct. But it’s not happening because of debt, and that’s all I was saying.
That’s not an immutable fact.
As soon as US bonds are no longer considered “the safest investment”, the USD standard is going to get shaky, and people will probably start looking a lot harder at the Euro.
In point of fact, a coordinated sell (or threat to sell) US bonds across several large countries and the EU was what actually made orangeboi back off on the tariffs initially. That is 4D geoeconomic chess, not this whinging about tariffs and revival of idiotic protectionist policies.
That is correct. But it’s not happening because of debt, and that’s all I was saying.