https://sg.finance.yahoo.com/news/p-global-slashes-oil-price-124113479.html
The S&P credit rating firm is warning about massive credit rating downgrades for oil and gas companies.
We had warned about the impending credit rating downgrades recently.
http://sg-stock.blogspot.com/2020/03/weve-correctly-predicted-end-of-good-us.html
We highlighted 3 things recently.
1. FED is short of USD.
The New York Fed expanded its repo funding by injecting cash into the US FED (after our posting). The New York Fed is both the boss of the US FED and is also a subordinate.
2. The US treasury department is flushed with cash.
3. Massive credit rating downgrades are coming.
The first to fire the salvo is the S&P global credit rating firm by targeting the oil and gas companies (after our posting).
https://sg.finance.yahoo.com/news/p-global-slashes-oil-price-124113479.html
Yeah! We're right again!
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https://www.cnbc.com/2020/03/10/trump-pitched-0percent-payroll-tax-rate-for-the-rest-of-this-year-white-house-officials-say.html
Since the US Treasury dept is flushed with USD, Trump can use the cash for his stimulative policies.
However, when the investors start to sell the US treasuries, he has to prepare the USD supply for the cashout.
https://www.reuters.com/article/australia-ratings-sp/australias-aaa-rating-not-under-immediate-threat-from-coronavirus-sp-idUSS9N2A600U
S&P will not cut Australia's rating because Australia follows the US in cutting its rate.
https://www.marketwatch.com/story/australias-central-bank-cuts-rates-over-outbreak-2020-03-02
https://finance.yahoo.com/news/stocks-tumble-trump-bans-travel-020623500.html
The US excludes UK from the travel ban because the UK follows the US in the rate cut.
https://clicklancashire.com/2020/03/12/new-york-fed-boosts-daily-cash-injections-us-175b-daily.html
New York FED injects money again!
https://finance.yahoo.com/news/nyu-professor-ed-altman-on-corporate-credit-120019162.html
NYU professor also said massive credit rating downgrades would be coming.....Hahaha!
https://www.nasdaq.com/articles/loan-losses-to-double-at-australian-banks-from-covid-19-rating-agencies-2020-03-17
S&P is targeting Australian banks now. Hahaha!
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