S&P Downgrade Fears Reflect Stalemated Politics says Duluth Analyst FOX 21 Online
DULUTH-Standard and Poor's downgrade of the U.S. credit rating puts pundits in a frenzy Monday. But, many northland analysts predict, aside from the anxiety, you won't be feeling any negative effects.
With a federal default narrowly avoided S & P's decision to move the U.S. credit rating from AAA to AA+ may not sit well with the Northland populous.
"There's more and more people that I talk to now that will not vote for an incumbent,” Duluth political analyst Neil Atkins said.
He suggests two main reasons: the highly publicized inability for Democrats and Republicans to work together and the fear of what a severe rating downgrade would mean.
"Then, interest rates go up and you can't get the loan for the car, you can't refinance your house at the low rates that they currently are,” Atkins said.
But, at market close, your rates for your home and credit cards seem safe after rallies in gold and U.S. Treasury bonds.
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