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Fitch tells CNN why it downgraded America now. Wed. August 2, 2023.

Within minutes of Fitch’s downgrade on Tuesday evening, the White House, Treasury Department and some leading economists slammed the move. Treasury Secretary Janet Yellen described the downgrade as “arbitrary and based on outdated data,” noting progress in many of the indicators Fitch relies on.

Former Obama economic adviser Jason Furman called the downgrade “completely absurd,” and famed economist Larry Summers [zit hoog in de boom bij Blackrock] described it as “bizarre and inept,” noting the move comes just as the US economy looks stronger than anticipated.


Revenge of the “Deplorables,” the Economist Intelligence Unit in 2016.

A trust deficit causes the US to become a “flawed democracy.” Trust in political institutions is an essential component of well-functioning democracies. Yet surveys by Pew, Gallup and other polling agencies have confirmed that public confidence in government has slumped to historic lows in the US.
This has had a corrosive effect on the quality of democracy in the US, as reflected in the decline in the US score in the Democracy Index. The US president, Donald Trump, is not to blame for this decline in trust, which predated his election, but he was the beneficiary of it. Popular confidence in political institutions and parties continues to decline in many other developed countries, too.  (vet toegevoegd)














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