Saturday, August 6, 2011

downgrading of the US credit rating

It seems that some credit rating agency has downgraded the credit rating of the US from AAA to AA+.
all the arguments over raising the debt ceiling the last week might very well be connected to this.
all the old tax cuts that should have expired soon seem set to continue and that might very well be another reason.
Also the us federal budget is running with a deficit of around 1.4 trillion.

What might be the future implications of this?

For one thing most of the stock markets around the world seem to in a sell off mood.

Will interest rates go up ?

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