Chinese agency downgrades U.S. credit rating - New England Patriots Forums

mcgraw_wv · 08-03-2011, 08:06 AM

Chinese agency downgrades U.S. credit rating - CNN.com

Quote:

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.

Mrs.PatsFanInVa · 08-03-2011, 09:26 AM

Quote:

Originally Posted by mcgraw_wv

Chinese agency downgrades U.S. credit rating - CNN.com

Is anyone surprised?

DropKickFlutie · 08-03-2011, 10:22 AM

US treasuries and interest rates will continue to be priced based on the fraudulent AAA ratings by the Big Three agencies.

AAA ratings will never change until AFTER the US collapses, because many mutual and pension funds and other large institutional investors are required to only have money in AAA rated instruments.

A downgrade will never happen because it will cause a massive shift of money and decimate the US economy.

These agencies never changed their AAA ratings for Enron, Lehman, Merrill Lynch, the financial collapse, until AFTER they happened.

***patsfan13*** · 08-03-2011, 10:27 AM

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?

mcgraw_wv · 08-03-2011, 10:47 AM

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.

sdaniels7114 · 08-03-2011, 10:24 PM

Quote:

Originally Posted by mcgraw_wv

China is saying "The two parties acted in a very irresponsible way

This from a nation that built 86 gazillion coal-fired power plants last year and has trouble keeping lead paint off of new toys?

What's next? Lindsay Lohan tellin' us we drink too much?