US May Lose Its 'AAA' Rating

Discussion in 'Economics' started by Trendytrader, Nov 10, 2008.


    The United States may be on course to lose its 'AAA' rating due to the large amount of debt it has accumulated, according to Martin Hennecke, senior manager of private clients at Tyche.

    "The U.S. might really have to look at a default on the bankruptcy reorganization of the present financial system" and the bankruptcy of the government is not out of the realm of possibility, Hennecke said.

    "In the United States there is already a funding crisis, and they will have to sell a lot more bonds next year to fund the bailout packages that have already been signed off," Hennecke told CNBC.

    In order to solve or stem the economic slowdown, Hennecke suggested the US would have to radically reduce spending across all sectors and recall all its troops from around the world.

    As for a stimulus package, there is not much of an industry left to stimulate back into life, Hennecke said.
  2. TGregg


    I'm sure the new administration and congress will get right on that. First thing. Right after monkeys fly out of their #@&.

    EDIT: Not that Bush or the current congress would do it either. Or McCain. Pretty much everybody on both sides of the aisle are very much in favor of shoveling out as much of the treasury as they can. There are a few who aren't just like there's 4 or 5% of voters who would vote to kill most government programs. But the overwhelming majority of americans are dead on for more government.