Losing AAA rating

Fascinating that the US lost its AAA credit rating last night. I have no idea what that means but since it is the first time in history that it happened, it’s probably not that good.

Clearly the US government has borrowed too much. Do wonder what happens next time there is a global situation where the US has to go get in another countries business. Who is paying?

If no one will bail the US out, then why should the US bail anyone else out incurring more debt?

Regardless, the US government has overspent, overborrowed and overpromised. Sounds like the housing crisis. And the banking crisis. I sense a pattern here.

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