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So the jobs market slipping and now our credit ratings -- as wells ratings agency Egan Jones just downgrading the US again.
Sean Egan on -- his company made this moos on very good that -- latitude.
Do it thank you.
We did because the debt to GDP.
Has been deteriorating.
Over the last couple years.
As of 2008 the debt to GDP which is probably the best to measure -- for a country's credit quality.
Deteriorated from 75%.
Debt to GDP.
To -- this year about a 100% and we project is going to go into about a 115%.
If current trends continue.
And so -- your credit you did warn it's sort of like.
My my dad -- when he was alive he would warn me if he was gonna launch into the moon.
If -- so much is thought well taken that car out doing something nefarious.
You warm and you said government you keep doing that what you're doing here.
We're going to be back campus here we are so what's the next stage if if it doesn't -- his debt continues to -- at the rated as.
What does a ratings from like viewers do.
Probably take additional action unfortunately.
Other investors have followed our call.
And right now the primary purchase errors -- treasuries has banned the Federal Reserve Bank.
That is typically not a good sign when your own Central Bank is buying a lot of the country's debt.
And that's been the cause for the depressed interest rates.
It's a major buyers saying that they aren't going to buy significant number of additional treasuries and that's a concern.
Right it's a concern to me Sean is that news front from the firms such as yours unless they are and will we have these downgrades.
It isn't the big front page headline news today should in but it isn't and that worries me.
That we're almost sanguine -- the prospects and we don't care.
You know that say luxury that we really don't have the US has the benefit of being a reserve currency.
There's this notion that we can continue to print dollars to pay off our debt.
That doesn't work very long when investors are getting burned by -- depreciation and Dow are.
Or by deflation as result of the access dollar printing.
They start looking elsewhere though the US is not had -- as bad as the EU.
But when you have a debt -- in excess debt to GDP that's in excess of 100% and was the last time where at this level as World War II we have some problems.
Yeah and then we had a reason.
-- thank you very very much good having.
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