Moody’s just downgraded U.S. debt, stripping it of its last AAA credit rating – the gold standard, an untouchable badge of fiscal honor. And if you’ve been tuned in to financial media the past few days, you’d think the sky was falling.
CNBC ran “Breaking News” banners like we were back in 2008. Bloomberg pushed out special alerts. Armchair economists on X were posting at full tilt.
And yet, the stock market barely blinked… because this downgrade is all bark and no bite: a headline-fueled nothing burger.
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