You don’t say!

You mean pumping a bunch of worthless paper into the economy, diluting the value of the currency and artificially depressing interest rates makes a nation less credit-worthy?

Ratings firm Egan-Jones cut its credit rating on the U.S. government to “AA-” from “AA,” citing its opinion that quantitative easing from the Federal Reserve would hurt the U.S. economy and the country’s credit quality.

[…]

In its downgrade, the firm said that issuing more currency and depressing interest rates through purchasing mortgage-backed securities does little to raise the U.S.’s real gross domestic product, but reduces the value of the dollar.

In turn, this increases the cost of commodities, which will pressure the profitability of businesses and increase the costs of consumers thereby reducing consumer purchasing power, the firm said.

No shit! Really?

Thanks, TheBenBernanke!

Perhaps you should go back to Princeton… or Goldman Sachs… or hell.

If I want economic expertise, I’ll ask the guy who mows my lawn. At least he understands the value of a dollar.

One response

  1. When does the season open?

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