Collapse is never a sudden occurrence; it is an outcome of gradual erosion over time. A weakening that takes place almost invisible to those who pass through the construct, until eventually, at an uneventful time in the mechanics of history, the process gives way.
Fitch has joined with the prior position of Standard & Poors to downgrade the USA credit rating. The weight of debt, in combination with reverberations from the continued hammering deep inside the political fundamental change operation, has triggered another flare.
In the bigger picture, this is a self-fulfilling prophecy driven by the latest focus on unsustainable economic policy, aka The Green New Deal. The efforts of the fiscal, monetary and economic policy are all aligned to shrink the U.S. economy, thereby creating the era of “sustainable energy” a possibility. Unfortunately, this is akin to a household intentionally shrinking their income while at the same time taking on credit card debt. The process itself is not sustainable.
(Reuters) – Rating agency Fitch on Tuesday downgraded the U.S. government’s top credit rating, a move that drew an angry response from the White House and surprised investors, coming despite the resolution of the debt ceiling crisis two months ago.
Traders’ immediate response was to embark on a safe-haven push out of stocks and into government bonds and the dollar.
Fitch downgraded the United States to AA+ from AAA, citing fiscal deterioration over the next three years and repeated down-the-wire debt ceiling negotiations that threaten the government’s ability to pay its bills.





