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Saturday, September 15, 2012

Fed Pumps Ratings Slump

Ratings firm Egan-Jones cuts its credit rating on the U.S. government...

{A prominent ratings firm downgraded the U.S. Government's credit rating from "AA" to "AA-" one day after the Federal Reserve announced it would pump more money into the economy by buying more than $40 billion of mortgage-backed securities per month until the economy improves.}

  More great news from the nonexistent Obama recovery. The ratings firm said the Fed's action would increase the cost of commodities and reduce consumer purchasing power. The only person happy with this news is moron-in-chief at the New York Times, Paul Krugman. Of course, for the Keynesian economics Professor who never met a stimulus he didn`t love, it`s never enough...