Frens, I've been on a bit of a sabbatical for various reasons, but I'm turning to the only group I trust here. I'm a very mild investor and also have a 401K. Markets nose-dived today with the news of the U.S. downgrade. Trump Truthed about it https://truthsocial.com/@realDonaldTrump/posts/110821789412944769 but he's got more going on w/ this faux indictment version 7,854.
The MSM spin is of course nonchalant "no big deal" and it's Trump and J6 fault B.S.
Some links:
https://www.cbsnews.com/news/fitch-downgrade-us-debt-what-it-means-cbs-news-explains/
https://www.politico.com/news/2023/08/01/fitch-downgrades-u-s-debt-00109288
Can anyone with a bigger brain than mine tell me what this REALLY means and if it's serious cause for concern or just a political ploy? I'm trying to figure out how worried I should be.
I don't presume to time the market. Nor do I have a plan to take advantage of it. But a downgrade is one of the necessary steps before it happens. That's about it. It's just one signal among many. Soon. But how soon? Don't know ... but sooner now that the first downgrade has happened than before. I'm market-aware but not a market-watcher, just a Q follower.