Despite its AA+ credit rating
People do not make fun of the US for having their credit rating downgraded nearly enough. Imagine being the wealthiest country in history with control over the most ubiquitous reserve currency on the planet and the credit rating agencies are like “it’s not that we don’t trust you, but we have standards to maintain.”
This really does need to be talked about more than it is. Norway, Sweden, Canada, and the Netherlands all have a better credit rating than the US.
The fact that Ted Cruz hasn’t been hounded out of the country for that shit baffles me to this day.
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The US credit rating has fluctuated since 2011. At one point I think it was as low as A-. Regardless, the idea that it would ever be anything other than AAA is hilarious.
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Vietnam and Mexico could take advantage of the arbitrage opportunity (sell domestic bonds, buy US bonds), but clearly aren’t because they think there’s no edge?
That’s… Pretty crazy. Doesn’t bode well for US inflation.
