[The Comedian]

Tipping point?

Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

[My Favorite Headache]

But I thought Glenn Beck was “depressing and nuts and a fear monger”? He only keeps beating this into our heads on every single show.

Just great.

[Retired Greyhound]

Here we go...

[Logic n' Reason]

Is the US itself now considered “too big to fail”? And if so, to whom (or what) does the US look for “assistance”?

[se_ohio_young_conservative]

I don’t blame China one bit. They are trying to send us a strict message. I don’t know if this is a tipping point, but it sure is a warning.

[The Comedian]

Economic Holocaust ping.

Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

[OB1kNOb]

Our government / Fed is trying to play financial poker and bluff a player holding four aces.

[maddog55]

And so it begins...

[GeronL]

US debt should get to junk status soon

[The Comedian]

This does NOT belong in "Bloggers", geez.

Here's another link to the information through a different source:

http://www.businessinsider.com/dagong-downgrades-us-credit-rating-2010-11

Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

[mojito]

Dagong is a tool of the ChiComs, and isn't a credible or objective rater. Not that S&P and Moody's are so great - needless to say they're not - but Dagong is little more than a branch of party propaganda. On September 27, the SEC denied Dagong’s request to be recognized as an independent credit rating agency, so this move is likely the ChiCom idea of payback.

From the WSJ:

“Needless to say, the markets don’t find this credible. Bond yields haven’t done anything. As the Journal’s Joy Shaw reported, Dagong was little-known before it surprised the credit-rating world in July by publishing sovereign ratings for China that were higher than those for the U.S., the U.K., Japan and other major economies. The results differed from those issued by major credit-rating firms.”

http://blogs.wsj.com/marketbeat/2010/11/09/chinese-credit-rater-downgrades-us/

The other laughable part of this is that since the FED is buying up US Treasuries it doesn't matter what the risk is, the FED will be buying even if US bonds are rated junk. And we're headed there.

[AngelesCrestHighway]

[ameribbean expat]

Weaker dollar will hurt US ability to attract dollar capital reflow... yeah, right. It means the US is on sale and you can pick up assets below market value because the curency is temporarily distoriting prices downward. These bastards are talking their own book and hoping other buyers get scared away.

[NeoCaveman]

Does this start Glenn’s 15 day scenario?

[Joya]

TC, thanks for everything.