On the Downgrade

It finally happened (again). U.S. Government long term debt has been downgraded from AAA to AA+, meaning the ratings agency are at least suggesting some sort of default risk for U.S. Treasuries. In case you're thinking that it's a byproduct of aggressive interest rate hikes, Fitch cited poor governance, political polarization, and a spine chilling (my word choice) government deficit. On the bright side, AA+ bonds *historically* have a low chance of defaulting on coupon & principal payments; and our Q2 GDP growth did surpass expectations. I guess we'll just have to see how this plays out.... Find us on Twitter, Instagram, Threads, & Facebook @DRUNKENOMICAL Merch: drunkenomics.myspreadshop.com Patreon: patreon.com/drunkenomics Stay Drunkenomical y’all!