Stock futures and the dollar fell late Wednesday after Moody’s Investors Service warned the United States may lose its prized AAA credit rating, reversing a rally on Wall Street.
The credit ratings agency cited the growing risk that Washington could fail to raise its $14.3 trillion government debt limit “on a timely basis.
Government debt prices also fell. Benchmark 10-year Treasury notes slid 8/32 in price to yield 2.91 percent, while the dollar tumbled against most major currencies and set another record low against the Swiss franc as Thursday’s Asian trading session opened.
Wait till the teahadist run GOP crashes our credit rating and our borrowing costs go through the roof, and they make our correctable debt problem an absolute uncontrolled disaster while crashing the global economy. They honestly do not realize what they are playing with here. It’s worse than fire.
How did we get to the point that the world economy is held hostage by people who think Jesus rode a dinosaur but paid cash up front for it (because he refused to carry any debt, doncha know)?