Posted on 08/02/2011 10:51:36 PM PDT by george76
Chinese credit-rating agency Dagong Global Credit Rating Co. again downgraded U.S. sovereign debt Wednesday and warned of further downgrades, the state-run Xinhua news agency reported....
Dagong cut U.S. Treasurys to A from A+, with a negative outlook, saying growth in U.S. debt is still outpacing revenue growth. The latest move followed a Dongang downgrade of U.S. debt from AA to A+ in November, citing the launch of the Federal Reserve's second round of quantitative easing.
"The agency said the approval to raise the debt ceiling indicated that there will not be any positive changes in factors that will influence the country's debt-paying ability in the long run,"
...
The news came the same day as a Xinhua editorial said the U.S. had failed to defuse its “debt bomb.”
(Excerpt) Read more at marketwatch.com ...
If the Chinese stop buying our bonds, we are in deep do.
The US will have to print more money, which will devalue the dollar, and before u know it a dollar won’t buy squat.
Should have made the cuts.
Asia is tanking
It’s looking more and more like we will all go together.
I never thought I’d see the day when China would see the U.S. more clearly than our own leaders.
This is embarrassing.
Damn our pretending leaders.
Where is this money going to come from...the Fed? The same Fed who is talking QE3?
We are going down hard folks.
If the Chinese stop buying our bonds, we are in deep do.
wrongo
If the Chinese stop buying our bonds, they are in deep do.
If the yuan goes up,
they will get what I call ‘Japan disease’.
with deflation stagnation, and unemployment.
as it is,
the only thing keeping china going now,
is construction of useless ghost cities.
They are in over their heads,
But so are we.
Gold is going to 1700
The Chinese can’t stop buying our bonds unless they decide to stop selling things to us. It’s an empty threat from a country that doesn’t have its own bond market.
You know what bugs me?
The next step is war.
I dont think they can project military power to our hemisphere. but they aint Liking this ****
So - which makes a bigger impact - The Chinese, or Moody’s?
Who else, other than China even has the $ to buy our junk bonds? From recent reports - Europe is about to be totally bankrupt (Hey Europe - how’s that Muzzy-loving, one-currency, European Union join’ for you?).
Who does that leave? India? Russia? Venezuela? Brazil? This may sound naive - but who out there is willing to write a check to the USA for $2 Trillion? For that matter - who has that kind of solvent resources to even think about it? The Chinese?
It aint gonna be Moodys
LoL! I hate to laugh at that, but that’s what it looks like.
Bernake is gonna print a bunch of money, and inflation is going to kick in.
IMO
This is not going to end well
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