NEW YORK (Reuters) - The United States will likely suffer the loss of its triple-A credit rating from another major rating agency by the end of this year due to concerns over the deficit, Bank of America Merrill Lynch forecasts.
The trigger would be a likely failure by Congress to agree on a credible long-term plan to cut the U.S. deficit, the bank said in a research note published on Friday.
A second downgrade -- either from Moody's or Fitch -- would follow Standard & Poor's downgrade in August on concerns about the government's budget deficit and rising debt burden. A second loss of the country's top credit rating would be an additional blow to the sluggish U.S. economy, Merrill said.
"The credit rating agencies have strongly suggested that further rating cuts are likely if Congress does not come up with a credible long-run plan" to cut the deficit, Merrill's North American economist, Ethan Harris, wrote in the report.
http://news.yahoo.com/u-rating-likely-d … 46478.html
From that source this is just a visible part of the war the bankers are engaged in with the government. Having left the economy wide open to collapse to extract money from your government they are now moving on to getting their masters back into power by further pressure on the US economy. Voters are known to be pretty stupid, the mass of them will vote for anyone who promises them more money in some form or another, even though those promises have never yet materialised. Maybe the current protests will provide some movement in the masses.
This isn't a surprise to anyone paying attention. Sooner or later, the Economy is going to die completely and the U.S. Reserve Currency is going to be completely useless.
I'm just waiting patiently.
Does this mean the US will not be allowed to donate billions of taxpayer’s dollars to other countries with higher ratings?
We need to consider the source. Bank of Amerikka-Merrill Lynched. Are these these same ones that want to transfer those worthless derivatives from the Merrill Lynch trading division to the retail banking division of of B of A,which is FDIC insured by the way. The FDIC is against this move but Bernanke is for it. It's amazing,these criminals destroyed the world economy and now they seem to think they have the clout to tell the world that we are a risky investment.Is this financial extortion? Makes one wonder,,,,,,,,,,,
http://dailybail.com/home/holy-bailout- … on-of.html
http://dailybail.com/home/william-black … ricas.html
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