(CH) Chinese rating agency Dagong Global Credit downgrades US sovereign credit rating to "A+" from "AA" citing QE2 program (update) - Chinese press - Cut long term US sovereign rating one notch to A+ from AA, with a negative outlook. Downgrade reflects its deteriorating debt repayment capability and drastic decline of the governments intention of debt repayment. - "The serious defects in the U.S. economy will lead to long-term recession and fundamentally lower the national solvency. The credit crisis is far from over in the United States and the U.S. economy will be in a long-term recession....Analysis shows that the crisis confronting the U.S. cannot be ultimately resolved through currency depreciation. On the contrary, it is likely that an overall crisis might be triggered by the U.S. government's policy to continuously depreciate the U.S. dollar against the will of creditors...In essence, the U.S. government's move to devalue the dollar indicates its solvency is on the brink of collapse."
I downgraded India today from Holy Cow+ to Holy Cow-. So what? Learn how to spell sovereign before you spew crap facts.
+1 and the title of the thread is completely misleading, as it indicates the US was downgraded by an accredited rating agency.
not now, loss of reserve currency takes place over an extended period of time, just like the British pound, but it is already beginning. What is the new financial world order? It remains to be seen
+1 Only being able to see the world with US (and other OECD economies) at centre is like still believing universe revolves around Earth, and that Earth is flat ...
Sure the universe revolves around Earth. If the Earth revolves around something then according to the principle of Relativity, that something revolves around Earth. what distinguishes motion in the absence of absolute space? get your facts straight...
Hmmm... I thought so ... Here are some others who share your views, goodgoing ... http://www.examiner.com/science-policy-in-austin/geocentrism-is-back