China's Dagong downgrades US sovereign credit rating
DrBuster
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China's Dagong downgrades US sovereign credit rating
Nov 9 (Reuters) - The United States of America's local and foreign currency long-term sovereign credit rating was downgraded by the Dagong Global Credit Rating Co, Ltd on Tuesday to "A+" from "AA" to reflect what it called the country's deteriorating debt repayment capability and drastic decline of the government's intention of debt repayment.
There's more obviously but that's the jist. Get on the Banana Republic boat ride.
Nov 9 (Reuters) - The United States of America's local and foreign currency long-term sovereign credit rating was downgraded by the Dagong Global Credit Rating Co, Ltd on Tuesday to "A+" from "AA" to reflect what it called the country's deteriorating debt repayment capability and drastic decline of the government's intention of debt repayment.
There's more obviously but that's the jist. Get on the Banana Republic boat ride.
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Comments
Box of 20
<< <i>Which is the lesser of the two evils. QE2 or a falling back into recession where banks most certainly will fail this time. I can understand why Bernake is doing it, but I still do not see a way out of this no matter which direction the fed is going. >>
I don't think we needed QE2. We need business to be more certain with the environment they're facing before they can turn the hiring switch back on. There's sooo many other things that could be done.
Some bank failures wouldn't necessarily be a bad thing either.
Edited to add, not that ours have been much better lately, but still...
I agree but Congress is unable to pass anything because of bipartisan bickering. What are our choices. I don't think we have the luxury to wait 6 months to resolve this through Congress-whether its repealing health care, drastically reducing taxes on small businesses....extending the Bush Tax Cuts. Our government has failed the people.
As far a bank failures I am not talking small banks but Bank of America, Chase, Citi.........It is now certain that the government will not allow these banks to fail no matter how big they have become.
Box of 20
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
However, should the US really be rated AAA? If I read Bernanke's comments correctly, he seems to be targeting about 4 % inflation. If someone bought the debt assuming an inflation target of 0 - 2 %, this might be considered a default rate of 3 %. What would that be - perhaps BBB?
we can still print them all the money they want.
They make all our coins now.... what's the problem?