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Josh Sigurdson talks with Tim Picciott, The Liberty Advisor about the historic downgrading of the US economy by Fitch. Simultaneously, Moody's has downgraded 10 midsize and small banks which has caused a free fall.
Following the Silicon Valley Bank debacle earlier this year, 42000 banks worldwide face similar conclusions. Even if only 1% collapsed, that would still be 42 which would be catastrophic.
With a debt crisis being forced onto the shoulders of Americans, Canadians and most western countries alongside a cost of living crisis, this can only sustain itself so long.
In this video, we compare past credit downgrades (it's only happened to the US economy twice in history including this month) and the present downgrades and explain the differences.
If ever there was a time to prepare, it's now.
Stay tuned for more from WAM!
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