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Sounds about right. At least one credit rating firm is being accurate.
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Yeah, and it’s just a coincidence that a Chinese rating agency ranks China as number one.
Worthless rating.
Well, what other country, aside from China, has several trillion dollars of surplus, looking for a place to put it all.
Get real.
They didn’t place China in the first rank, but in the second - with Canada and Germany.
Sounds about right on present indications, frankly.
Worthless rating.
Others could just as easily say the same thing about Moody's, S&P, and Fitch, which are American ratings agencies, and apparently that's exactly what's starting to happen now.
The problem is that we're borrowing massive amounts of money from China, not the other way around, and they're making it abundantly clear that they don't really care what our ratings agencies say, and that they're starting to have doubts about our ability to repay our debt.
This means we're going to have to start looking elsewhere to borrow our money, and if others start to decide that they agree with China, there will be no way for us to avoid paying higher interest rates on our debt.