What happens when you “Fitch” your wagon to Bidenomics? The American government gets its credit rating downgraded, and a big barrel of cold water gets dumped over the heads of the Wall Street bulls.
That Fitch downgrade of US Treasuries on Tuesday was pretty much the big news this week – along with a rather mixed jobs report. But let’s stay with Fitch or a minute because it was the first big crack in the façade of Bidenomics.
No one really should have been shocked when top global ratings agency Fitch downgraded the US government’s top credit rating from AAA to AA+ given the fiscal cliff that the Biden regime and a coalition of Democrats and RINO Republicans on Capitol Hill have sent us hurtling down with a series of irresponsible multitrillion dollar spending bills. Yet, Treasury Secretary Janet Yellen bitched and the White House moaned and, of course, they incredulously blamed the Republicans. But the reality is this never should have happened.
Here, the globalist elites who run this country in Washington and from Wall Street ritually portray America as a fortress of democracy and as a bastion of financial security for the world. It is our birthright, they say, for credit agencies around the world to treat investments in US government bonds as the safest investments in the most stable country of the world.
Yet, in the space of less than three years, Joe Biden has shaken the very foundation of our democratic system with his partisan assaults on President Trump and his advisors and election interference. Indeed, Biden’s weaponization of the FBI and Department of Justice has reached such new lows that America now shares in common with Third World countries like Brazil and Pakistan this infamy:
The judiciaries in all three countries have, or are trying to prevent, Trump-like figures – Bolsonaro in Brazil, Khan in Pakistan, Trump himself in the USA — from ever running for president again. To say that this threatens the stability of our country is to state the obvious.
Read Full Article on PeterNavarro.substack.com
