Fitch strips US of top credit rating after debt row - BBC News
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- Опубліковано 15 вер 2024
- The US government's credit rating has been downgraded following concerns over the state of the country's finances and its debt burden.
Fitch, one of three major independent agencies that assess creditworthiness, cut the rating from the top level of AAA to a notch lower at AA+.
Fitch said it had noted a "steady deterioration" in governance over the last 20 years.
US Treasury Secretary Janet Yellen called the downgrade "arbitrary".
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#US #BBCNews
0:12 She really salted the wound on that one.
This is long overdue! USA's level of debt is completely insane.
Yup, time to slash military spending.
still they are going to spent $900bn on the military next year...
Oh Really? And who the fuck are you? You haven't even made it to Econ 101, and YOU know all about it. ROTFLMFAO
The exclamation point really hammers home how stupid you are as a person. Like actually basement level IQ
No really, they can print more dallars, nobody controls them, thus more dallars more debt
This is what happens when you have people in Congress biquering with each other and placing interests in personal views ahead of national interests.
or bc Joe Biden wants everything is free, and sends billions of blood money to Ukraine
The USA will have to learn to live within its means. This will be forced on it by the bonds market.
Is Fitch strips contral by the US? so down grade can reduce the world using US dollars . Using gold bitcoin platinum etc. instead
Nope. He even gave it a name: bidenomics (I don't capitalize names of stupid people). He devalued the dollar with nonstop gov't spending, increased the deficit 170%, gave loan forgiveness to a limited percentage population unconstitutionally, opened the borders and didn't care about the current American population that's in-need, gave Ukraine a blank check, I mean it's quite a list. But it's what you get when you elect a senior citizen into office with 40+ years of having no professional skillset, can't walk without falling over, and can't even read off a teleprompter.
well..time to buy Crypto..
Thanks Kevin McCarthy
Agree!
Who is Kevin?
It should tell America just how the rest of the world views this. Instead of being pissed, America should FIX the problems that the rest of the World sees. It wont…Stuck on Stupid
We are. We voted Trump out. We stopped the "red wave" from taking a super majority that was predicted.
Lol...how will fix the problem??? With a military that only sucks endless $$ without producing any beneficiary result directly for the society???
Every country has debt including the UK. 7 trillion of US debt is international investors. The rest is domestic
We would fix our problems but we're too busy paying everyone else's way in the world with open borders soaking up resources and little zelensky's always got his hand out.
Can anybody really care anymore?
I live in Hud housing and it just came to my attention that fraud and extortion might be present with people who own the building. This is how it works… They hold your rent checks not cashing them then come back later to tell you that you are late on your rent and they are charging you five dollars a day late fee. Depending on how far back they claim they weren't able to find your check it could add up to a tidy sum. One of the tenants said he got a letter stating he owed over $1000 in late fees. Some of the tenants in my building are claiming they are being held hostage because the manager has already told them that she would leave a bad report if they caused any problems threatening them with life on the streets never to live in Hud housing again. If any of this has to do with the past rent I believe this is clear case of extortion against the old and disabled not to mention the mentally disabled. It is sad as can be if the old and disabled are being exploited this way by evil and greedy corporations living above the letter of law doing business with the US government.
In most countries there are clearly articulated tenancy laws that outline rights and responsibilities of owners and renters. Disagreements are arbitrated by impartial boards or tribunals. In my city they just passed by-laws stimulating that property owners are to be fined and forced to pay renters for any improper threats or attempts at eviction. In other words, it is the role of government to protect you, because theoretically, in democracies, we self-govern.
in addition to the first reply: it shows how the outdated US banking system with the still present check culture is being criminally exploited. in other countries the rent is sent electronically every month. 'rent checks not being cashed': what an absurd way to defraud your tenants.
Usually here we have our monthly regularly repeating electronic cash transfer. As that is therefor registrated within your account, the is no funny buisness even possible with keeping checks and such. Aslong you still have residance, maybe open up a bankaccount for that purpose as i would assume you do not have such. Just make sure you have a bank where you can goto in person to clear things up as i suppose bank clerks are acctually a dying species.
@@Rnankn..."laws" are managed + controled by those who print the Dallars...thus the hammer having have the nuts as well
Public and private debt in the USA adds up to hundreds of thousands of dollars per capita. They can never pay back their debt or even the interest on the bonds. So inevitably the US dollar will have to be devalued and the American standard of living will have to be drastically cut.
And don't forget the champagne socialists that spend spend spend and have no employable skills. Can't wait for the next election, but regardless time will clear the field of the geriatrics.
She almost said the 2nd biggest economy. Truth really comes out.
Yellen is a mouth breather. She shouldn't be representing the US. Her multiple gaffes in China really showcased it.
£38 Trillion in debt and direction is even more debt surpassing 100 of GDP. Should be downgraded long ago.
America doesnt pay their Bill's, why should I
Make sense!! How would any economy service 30 trillion debt
...lol...simple cut couple zeroes + print new currency
7 trillion of the U.S. debt is international , the rest is domestic
The thing is, not all of that debt is actually bad. By having so many other countries as creditors, it means they will actively back the US to ensure they can still pay. To completely kneecap the National debt would actually hurt the US’ image abroad as it would look like the country look like it is not trustworthy enough to invest in.
However the timing of this new rating is particularly arbitrary and seems more like a free ticket for ancap lunatics to argue that any and all government spending is evil or whatever.
Question, if you have no debt is better or is better having debt?
The BBC weather maps are losing credibility around the world 😂😂. Great memes online
Remember what Nancy said the more we borrow the less we owe. Until of course you have to pay it back and you can't.
Lol not saying they are wrong.. just saying its pretty messed up that these rating agencies like Fitch, S&P, Moodys still have the audacity to dictate who gets what rating after the chaos they helped create in the 2008 crisis.... crasy how they are still around, calling the shots... they shouldve been dissolved 15 years ago
I don't know about their impact on other creditors, but for American sovereign debt they are showing their irrelevancy. The financial/investment world is awash with primary sources of macro-economic data like never before. You can read all about government policy in the news. Ratings agencies are second-hand, recycled sources of information. This will not put a dent in the American or global economy. This information has already been assimilated and baked into the market.
0:11 a Freudian slip 😂
0:12 nah you were right the first time
At least this has gotten more people in the public space to talk about fiscal management.
More people talking about Socialism.
Fiscal management and Government are never in-the same sentence!
It's more than "talk" you fool, this is fiscally irresponsible & you're acting like there was a point to it; beyond posturing.
Biden has put money to pay down the debt or deficit. I can't get these straight. And movements to save millions due to Medicare able to negotiate drug prices will save a lot.
Even with the downgrade, the US still has a better credit rating than China.
The U.S. was downgraded in 2011. This ain’t new, it will go back up in a year
We need an alternative to USD for the global reserve currency!
China? Keep dreaming. US economy and the Dollar still strong compared to your ass as you think
Time to finally ditch the false promise of supply side economics. Cutting taxes over and over has not increased revenue the way fiscal conservatives constantly say it would.
You get credit downgraded for too much spending!!! I'm American and we have MILLIONS upon MILLIONS on welfare. That includes millions of illegals getting $$$ clearly Europeans are as clueless about finding their mouth from the as$H(>s
Joe Biden is responsible
The debt ceiling has gone up drastically during Biden's term. He keeps wasting globs of money on government spending when we are supposed to be cutting it. This isn't the fault of republicans.
Symbolic only. It happens every recession.
Wait, the US credit rating *right now* in 2023, is being crashed due to how the US economy was doing *five years ago?!* Why??
Delayed reaction
The U.S. was downgraded in 2011. This is isn’t something new. It will go back to AAA by next year
What do you mean? US is only 32 Trillion dollars in debt. That's not much when you price in inflation!! /s
Zelensky needs other $50 billion now😅
He needs more Cocaine.
Everything has a cost
I agree with them, we are slipping with the political divides. This was long in coming.
Thank you trump and the republican party 2019 to 2020. Please actually watch video as it details which years of unrest politically accounted for the change. Trump years.
Thanks for letting everyone know you’re an economic and civics illiterate.
😂😂😂😂😂😂😂😂😂
2018 - 2020
I’m sure the 100 billion to Ukraine didn’t help. Biden, Congress and Trump did this.
TDS is real.
Seek help.
In the face of challenges, let's strive to find solutions that promote financial stability and responsible governance. Addressing concerns about the country's finances and debt burden is vital for long-term prosperity. Constructive dialogue and collaboration between stakeholders can lead to positive outcomes. As we navigate these economic complexities, may transparency and accountability guide our actions. Let's focus on working together to rebuild and strengthen the economy, ensuring a brighter future for all citizens.
Dumbest bot thing I've read this week.
Ok, who didn't pay their bill!.
The bbc needs to talk about Ecosia they are a search engine that plants trees
bbc has no limit using credit cards
Pretty interesting timing indeed to hit it after the highs on all US indexes.
What's the alternative?
....diversity + inclusion
Unexpected?
The presenter made a lot of mistakes.
Care to articulate said mistakes ?
It's the BBC they always make mistakes & most of them are deliberate. Most normal people just call them lies 👍🏿
@@regu6582 "By the fitch agency ... er ...the ratings agency." [00:05] "unespected" [00:10] "to the world's seco ... er ... the world's biggest economy" [00:11] "that reached ... that was reached" [00:28] "Biden aministration" [00:41] "in Japan, down 2.3%" (what is down?) [00:59] "who is an independent ... sorry ... an investment director" [01:10]. The slips continue during the interview.
MSM abroad:" Yellow Trucking Company has filed for bankruptcy laying off over 30,000 Americans. Now without healthcare and income.
MSM in America: *chirp *chirp.😅
@@Arnold_Slater1223 , countries fail also. Good luck!
Cutting off trades and spending more on military. Even a child know this can't last long.
Unbridled spending by current administration will have that affect.
USA has to change...
The U.S will never pay off all it's debt.
America is finished - wish I could escape to Chillingbourne.
Y’all say this every decade, and it never happens
OT:Benny Hill considered funnier than Monty Python by two TV stations--WOR and WLVI.
Thank God it is real the USA's economic is in trouble.
The US economy is fine. Thanks to Trump, the political system is a mess.
...which god of them all...Jehova, Odin, Zeus, Thor, ironman, black panther, alah, Ramakrishna, mint, ping, zing, Zang, zung, dubg....?
1. With the help of the Second World War, the United States was able to get out of the Great Depression thanks to the fact that they made the dollar the world currency. 2. after the crisis of the 70s, the United States raised the rate to 20% and, by lowering it, began regonomics distributing loans 3. The collapse of the USSR and the opening of the markets of the socialist camp allowed the United States to delay the inevitable collapse of the economy As a result, there are no new markets, it is no longer possible to lower the rate - capitalism is dead. 1930
this is dangerously short, cuts a few corners and stops at the wrong turn. it is misleading and basically useless to work with
...so what do you suggest? Communism?
@@1newme425up + down is perspective, is fubuzy fugazy
Every decade y’all say the US will fall and it never happens. Please save it
The U.S. was downgraded in 2011. This isn’t something new. It will go back to AAA by next year
Well, the truth has finally arrived what a great day, enjoy the rest of your week everyone. 😉
Governance seems to be improving, imho.
But it isn’t retroactive.
How?
Why now when economy is recovering? why not last year when everything was getting worse and worse? The timing of it makes me question the credibility of this private firm aka Fitch.
Credit agencies should not be allowed to rate during corporate earnings season, it unfairly influences the stock markets. They might be bribed or manipulated by the Wall Street hedge funds.
We have one party arguing with each other and they are the party of the wealthiest. They fight every move made, creating more issues. We need Katie Porter in a top job.
The "gifts" of Trump just keep on coming.
Biden Bolsheviks are deliberately bringing the country down to 3rd world status and perpetual war.
Never worship and pray in the way of any religion.
You are part of a Satanic religion and worship government.
Every incoming american president whether republican or democrat bring a rare skill set to the presidency
That of overspending to the tune of $31,400,000,000,000
My idea of spending is neither a borrower or lender be
Watch Alex Jones for real news.
2nd time in u.s. history (2011) oh yeah btw Biden was involved then too
Remember, every single republican/conservative government in USA has always made the debt WORSE... democrats are not perfect, but most of them have made it better...
So there you have it. Fiscal responsibility.
Whenever a Republican president comes to power, the Republican message is about cutting taxes. Tax cuts for the rich are the greatest sources of debt in our modern history. When a Democratic president comes to power, the Republican message is to worry about the debt. In fact, I think you can predict election results about a month in advance or so based on whether the Republicans in Congress are messaging about tax cuts or the massive debt.
lol, Welcome to Biden's America everyone!
Bideneconomics in action. Bring back Trump.
O my god
...which of them all, Jehova, Ramakrishna, Zeus, alah, ming, bing, Thor, Odin, ironman, black panther...?
Baiden warorlder 🇺🇸🔨🤮Former militarist Kishida Naka long-range missile development🇯🇵🔨🤮
Ha ha ha.
Great Depression 2 is about upon us. WW3 has already started. Good luck! 😂
Bidenomics.
Whatever you want to call the corruption of capitalism.
I take it you're a fox viewer.
@@singularspace2782 I’m literally commenting on a BBC video I watched 😘😘😘
@@jamesgilheany9624 I recall hearing about 2019-20 period.
Pretty sure that was tRump NOT Biden.
Also it is tied to the global economy and tRumps huge spending, and the MAGGAT's holding the economy hostage to their bizarre demands.
So in reality that would make it tRump/MAGGAT-nomics.
Do you not concur ?
@@singularspace2782 “everyone that disagrees with me is a conservative “ liberal proverb.
Unellected dementia plan isn't working.
Who'd a thought ?😂😂
Brilliant 😂
No worries! Jokin Joey Biden has everything under control. Right after he builds a railroad across the Indian Ocean!😂😂😂😂😂😂😂
Happens invest in police freedom family all brother and sister and Family All India government family all history Family All India first Family All police free family all freedom and Family All companies and airport in family all export OK Family all PEACE and Happiness and Democracy in police free family all history Family All freedom family all investment in police free family all freedom and Family All PEACE OK THANKS
What rating does Abercrombie give The US!? 🤷♂🤷♀🤷
Biden’s America.
Rainbow looney land.
So very bad news for the world dictator!
It can’t even think about another illegal war as Russia will not allow 😅