07-29-2011, 03:33 PM
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Join Date: Mar 2006
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AAA - And then there were 16?
For those of us who do care about the U.S. AAA bond rating, here's an article on the 17 countries in the world with that rating:
Meet the countries with AAA ratings - Jul. 29, 2011
It's notable that a great number of those nations are in Europe, of course -- even though they're on the hook for the PIIGS, especially the G in PIIGS.
Safest debt out of all of em?
Wait for it...
Wait for it...
Norway.
Quote:
By looking at the prices of 5-year credit default swaps, Norway's debt ranks the safest, followed by Sweden, Switzerland, Finland, the Netherlands and Australia.
Canada, Singapore and Germany also have safer bonds than the United States.
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Also notable: since the idea of the dollar being the reserve currency of the world is that the US is the original brick, in terms of credit and stability of government, it's no wonder that the world financial community thinks a basket of stable currencies is a better idea than sticking with the dollar only.
I remember all the righties were up in arms that the dollar wouldn't be THE reserve currency about a year or 2 ago... now those same savants say "who cares what our bond rating is?"
I'm too tired to write out the primer. Take my word for it, it matters.
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