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It said the gloomy assessment -- much lower than the AAA ratings given by the so-called "big three" Western agencies Moody's, Fitch, and Standard and Poor's -- was inevitable given the level of market concern generated by the stalemate between Democrats and Republicans over the debt ceiling.
"The squabbling between the two political parties on raising the U.S. debt ceiling reflected an irreversible trend on the United States' declining ability to repay its debts," Dagong Chairman Guan Jianzhong told CNN.
"The two parties acted in a very irresponsible way and their actions greatly exposed the negative impact of the U.S. political system on its economic fundamentals," he said.
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The Chicoms are sitting on a big Real Estate bubble who is going to buy our debt when they hit the rocks? The Euro's? No they are busy bailing out the P(I^2)G's, the Japanese are hosed currently and the Chicom may be out of the market shortly..... the debt ceiling debate may be a mute point if no one can/wants to buy the debt. QE3 anyone?
"Some guys play in all-star games, some guys don't. I don't know who picks all those all-star teams. In all honesty, I don't know who picks the combine, for that matter," Belichick said. "How does (Miami-Ohio offensive lineman Brandon) Brooks not get invited to the combine? How did Vollmer not get invited to the combine? I don't know. We can't really worry about that. We just have to try to evaluate them the best we can."
The worst part is that China is saying "The two parties acted in a very irresponsible way and their actions greatly exposed the negative impact of the U.S. political system on its economic fundamentals"
They will lead other smaller countries to follow their central planning over freedom...
However, were all about central planning as well, so I guess the Chinese is just more honest about their form of government.