{"id":5019,"date":"2023-08-13T21:40:55","date_gmt":"2023-08-14T01:40:55","guid":{"rendered":"https:\/\/envisionco.net\/?p=5019"},"modified":"2023-08-13T21:40:55","modified_gmt":"2023-08-14T01:40:55","slug":"week-ending-8-11-2023","status":"publish","type":"post","link":"https:\/\/envisionco.net\/?p=5019","title":{"rendered":"Week Ending 8\/11\/2023"},"content":{"rendered":"<p>MARKET RECAP<\/p>\n<p>Fitch downgraded US debt to AA+ from AAA a couple of weeks back. Fitch said the downgrade was due to an &#8220;erosion of governance&#8221; in the US compared to other top-tier economies over the last two decades. The Biden administration and many &#8220;experts&#8221; said the downgrade was undeserved and nonsense. Treasury Secretary Yellen said, &#8220;The change by Fitch Ratings announced today is arbitrary and based on outdated data.&#8221; But in all seriousness, who can argue with the downgrade?<\/p>\n<p>Look what is going on in this country:<\/p>\n<ul>\n<li>For the first time in our history, we did not have a peaceful transfer of power after the 2020 election.<\/li>\n<li>The last President has been indicted multiple times and still insists the last election was stolen, and many people actually believe him.<\/li>\n<li>We have gone to the brink several times when renewing the debt limit.<\/li>\n<li>Trump added $6.7 trillion in debt from fiscal year 2017 to fiscal year 2020, an increase in the national debt of 33% in four years. At the end of fiscal year 2020, the national debt was $26.9 trillion.<\/li>\n<li>Under Biden, in January of 2023, the national debt hit $31.4 trillion.<\/li>\n<li>The cost of refinancing the debt at higher interest rates is going to compound the problem.<\/li>\n<li>Spending is just out of control, and hardly anyone cares.<\/li>\n<\/ul>\n<p>So the downgrade was well deserved and should probably have been deeper.<\/p>\n<p>SCOREBOARD<\/p>\n<p><a href=\"https:\/\/envisionco.net\/?attachment_id=5024\" rel=\"attachment wp-att-5024\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-5024\" src=\"https:\/\/envisionco.net\/wp-content\/uploads\/2023\/08\/Scoreboard-8-11-2023-80x300.png\" alt=\"\" width=\"80\" height=\"300\" srcset=\"https:\/\/envisionco.net\/wp-content\/uploads\/2023\/08\/Scoreboard-8-11-2023-80x300.png 80w, https:\/\/envisionco.net\/wp-content\/uploads\/2023\/08\/Scoreboard-8-11-2023-274x1024.png 274w, https:\/\/envisionco.net\/wp-content\/uploads\/2023\/08\/Scoreboard-8-11-2023-411x1536.png 411w, https:\/\/envisionco.net\/wp-content\/uploads\/2023\/08\/Scoreboard-8-11-2023-548x2048.png 548w, https:\/\/envisionco.net\/wp-content\/uploads\/2023\/08\/Scoreboard-8-11-2023.png 573w\" sizes=\"auto, (max-width: 80px) 100vw, 80px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MARKET RECAP Fitch downgraded US debt to AA+ from AAA a couple of weeks back. Fitch said the downgrade was due to an &#8220;erosion of governance&#8221; in the US compared to other top-tier economies over the last two decades. The &hellip; <a href=\"https:\/\/envisionco.net\/?p=5019\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1893,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5019","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts\/5019","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/users\/1893"}],"replies":[{"embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5019"}],"version-history":[{"count":4,"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts\/5019\/revisions"}],"predecessor-version":[{"id":5025,"href":"https:\/\/envisionco.net\/index.php?rest_route=\/wp\/v2\/posts\/5019\/revisions\/5025"}],"wp:attachment":[{"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/envisionco.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}