USA just got downgraded. (Patreon)

I recall this happened back in 1999.  It is not good for the Dollar. It is not good for already exploding deficits.  Cost of debt financing will increase as risk is increased.  The US interest on debt is already nearing $1 Trillion and about to go a lot higher.  

Quick Summary

• There is little confidence in US Govt, no confidence in US fiscal management
• The downgrade is not a reflection of the United States' economic strength
• The downgrade will lead to higher borrowing costs for the United States government, as investors demand a higher risk premium to compensate for the increased risk of default.
• The downgrade will also lead to a weaker dollar, as investors lose confidence in the U.S. economy.
• The downgrade will have a negative impact on the U.S. stock market, as investors become more risk-averse.

The only solution is more money printing. Fiscal austerity is beyond the point of no return.