Why shouldn’t it be? China obviously rates itself AAA, so these ratings are totally bogus.
Why does anyone bother citing them? I’d believe them if they didn’t have China up there, but this is all propaganda.
Why does anyone bother citing them? I’d believe them if they didn’t have China up there, but this is all propaganda.
This is likely a reflection of the official Chinese government position. This means that the Chinese government is downgrading our debt and warning us that they will not finance our extravagance at the current interest rate. Someday soon the Federal Reserve with a warehouse of monopoly money will be the only bidder on our bonds.