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US Credit Downgrade Signals 'Great Global Shift to Multipolar World Order'

US markets posted major losses Wednesday on news of Fitch’s decision to downgrade the US’s credit rating from AAA to AA+ on expectations of a “fiscal deterioration” in the nation’s finances and a growing debt burden. Sputnik reached out to economists and finance experts for insights into what’s really going on behind the scenes.
United States Jim Wyckoff Janet Yellen Donald Trump Rodney Shakespeare Tom Luongo

Gas prices are rising (again). The heat and supply cuts impact what you pay at the pump, experts say

U.S. gas prices are continuing to rise — giving drivers across the country another headache at the pump. The national average for gas prices stood at about $3.82 a gallon on Thursday — about 29 cents higher than that seen one month ago, according to motor club AAA. The rising prices are especially interesting as “fewer people are fueling up” their cars this summer compared to years past, AAA spokesperson Andrew Gross explained in an interview this week.
United States Gulf Of Mexico Saudi Arabia Andrew Gross Tom Kloza Associated Press
Source: yahoo.com

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Fannie Mae, Freddie Mac Lose Fitch AAA Ratings After U.S. Downgrade

Fitch Ratings downgraded the long-term debt of Fannie Mae and Freddie Mac late Wednesday, underscoring the contagion effect from the U.S government’s first credit downgrade in 12 years. The two government sponsored entities (GSEs) saw their long-term debt ratings lowered to AA-plus from AAA by Fitch, which cited its Tuesday downgrade of the U.S. as the primary factor. Fitch also stressed that the action “is not being driven by fundamental credit, capital or liquidity deterioratio...
District Of Columbia United States Freddie Mac Fannie Mae Kevin Mccarthy Joe Biden
Source: yahoo.com

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