Moody’s reaffirmed America’s credit rating at the highest AAA level but expressed concern about the nation’s fiscal trajectory amid congressional dysfunction.
Clearly defending the agencies (as the title suggests). Other articles point out racial or geographical bias (or their shortcomings before the financial crisis/great recession), but I’m not seeing anything that says they are outright “shitty and wrong” most of the time (or even often).
Lower ratings make debt more expensive. More expensive debt drives up the cost of the US borrowing and doing things.
So, I guess anyone who wants the government to spend money on things?
The cunts get it wrong 100% of the time.
While there is limited reliability, it still matters what they say. I wouldn’t say they get it wrong most of the time though
FFS, The Economist did a whole fucking piece on how shitty and wrong the agencies are.
When I search through their articles, I find a mixed bag. This is the most recent: https://www.economist.com/finance-and-economics/2023/08/10/in-defence-of-credit-rating-agencies
Clearly defending the agencies (as the title suggests). Other articles point out racial or geographical bias (or their shortcomings before the financial crisis/great recession), but I’m not seeing anything that says they are outright “shitty and wrong” most of the time (or even often).