Here’s what we have for you today:
• Based verdict
• US’ credit line
• Going for gold
Public & Private sector veteran on remote work
Public discourse: Cofounder of Bloomberg LP and former NYC mayor Michael Bloomberg noted “Some people argue that remote work for federal employees isn’t a problem. Tell that to the taxpayers who are footing the bill for empty floor space and the costs of maintenance.”
The obvious: While citing a report that was released at July, 2023 from the Government Accountability Office that showed the average occupancy rate across 24 US federal agencies measuring around 20%, he noted “This has gone on too long. The pandemic is over. Excuses for allowing offices to sit empty should end, too.”
Basically: On another fundamental statement he stated “In the private sector, if remote workers do a poor job, business suffers and customers take their spending elsewhere. In the public sector, people just have to put up with poor service.”
Top credit rater lowered US’ long-term ratings
Downgrade: On August 1, 2023 Fitch Ratings lowered the US’ AAA credit rating to AA+.
Measurement: The downgrade was based on 9 key drivers ranging from facets such as debt, deficit and governance.
Currently: Foreign investors will continue to fund the US’ deficit spending with Treasury purchases until an alternative is found.
International central banks buy and sell gold
Precious commodity: Central banks across the world buy gold because it retains its value against volatile currencies or falling bond prices. In 2022, they have bought $70 billion of gold (the most since 1950).
Freely: As for investors, there is no need to rely on any particular issuer or government to trade it.
Another choice: In 2023, emerging market banks have been buying gold to diversify away from a weakening dollar as it can be swapped into another currency.
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