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Israeli economy takes another hit after credit rating tanks
(thecradle.co)
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this post was submitted on 13 Aug 2024
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isn't israel debt backed by amerikkka?
my out of the ass guess is that, generally yes, but credit downgrading is about "feelings" and that on the eve on an election, the big piles of money might think a candidate might soften it's pro-iaraeli rhetoric and that could signal others to anticipate reduced investment/returns if the US doesn't promise to back every dogshit loan the colonial administrating grifters can broker.
also, all it materially means is that investors can squeeze for more juice to continue extending loans, so it's also a cash grab type of move. like a "hey, this bank in Cyprus is paying out 11% on savings accounts! get in on it!" to the people who like lending to those with shaky credit.