RSSFitch Kicks The Can Down The Road
J.J. Jackson | November 29, 2011
Fitch Ratings says the United States can keep it’s AAA rating despite basically an unfathomable 100% debt to GDP ratio. Fitch did hedge its bets saying that its outlook is being downgraded to negative saying that if a deal on real deficit reduction is not reached soon there is a better than 50-50 chance it will drop its rating.
With the decision, Fitch has officially abdicated its duty to give accurate information. Fitch’s job is to downgrade debt before crisis hits. But, like Moody’s they seem content to wait until after crisis strikes to actually make a move. Then they will move to cover their ass and quickly disgrace debt once that debt is more than worthless, but only a couple of notches.
Fitch is just kicking the can down the road hoping that they don’t have to actually do their job.
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J.J. Jackson is a libertarian conservative author from Pittsburgh, PA who has been writing and promoting individual liberty since 1993 and is President of Land of the Free Studios, Inc. He is the Pittsburgh Conservative Examiner for Examiner.com. He is also the owner of The Right Things - Conservative T-shirts & Gifts. His weekly commentary along with exclusives not available anywhere else can be found at LibertyReborn.com (Digital Fingerprint: libertyreborn123456789)
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