Chinese credit agency downgrades America from AAA rating.

[Vessol]

Goodbye Federal Reserve Notes, it was nice knowing you.

http://www.telegraph.co.uk/finance/china-business/7886077/Chinese-rating-agency-strips-Western-nations-of-AAA-status.html

[charrob]

interesting...


Dagong rates Norway, Denmark, Switzerland, and Singapore at AAA, along with the commodity twins Australia and New Zealand.

[james1906]

We'll have to go to Check Into Cash for now on.

[specsaregood]

This is not dollar positive.

[Bman]

You know, all of this is going to get very very ugly.

I know people like Schiff for one speaks highly of the East, but I wonder what have any Austrian economists said about the accusations that China has been manipulating markets?

I have a feeling this is going to turn into a huge he said she said battle, lets hope everyone keeps their cool.

[lynnf]

You know, all of this is going to get very very ugly.

I know people like Schiff for one speaks highly of the East, but I wonder what have any Austrian economists said about the accusations that China has been manipulating markets?

I have a feeling this is going to turn into a huge he said she said battle, lets hope everyone keeps their cool.

well, this is a poke in the eye to Geithner (and indirectly to the Great O), who said we'd never lose our AAA rating!


lynn

[Live_Free_Or_Die]

We knew this was coming. China has a nice hand to play on the stage of global politics.

[YumYum]

Dagong rates Norway, Denmark, Switzerland, and Singapore at AAA, along with the commodity twins Australia and New Zealand.

How in the world could these two socialist countries be rated higher than the U.S.?

[awake]

What? Just one measly credit agency? They are not even peer reviewed... opps, wrong scam.

[nobody's_hero]

Dagong rates Norway, Denmark, Switzerland, and Singapore at AAA, along with the commodity twins Australia and New Zealand.

How in the world could these two socialist countries be rated higher than the U.S.?

Maybe they haven't borrowed as much? I'm just guessing. I suppose it is possible that a socialist government could survive financially as long as the people were willing to be taxed as much as necessary to fund it.

In America, we have a really compounded problem: Many democrats want a socialist country but don't want to pay for it. So we mostly just borrow. And borrow. . . and borrow.

That's my guess, anyways.

[Vessol]

bump

[Stary Hickory]

Maybe they haven't borrowed as much? I'm just guessing. I suppose it is possible that a socialist government could survive financially as long as the people were willing to be taxed as much as necessary to fund it.

In America, we have a really compounded problem: Many democrats want a socialist country but don't want to pay for it. So we mostly just borrow. And borrow. . . and borrow.

That's my guess, anyways.

Exactly it's politically impossible to tax people that much in the US....which is why there are HUGE problems coming.

[lester1/2jr]

I'll say what howard stern said on 9/11 "we knew something like this was gonna happen"

[Danke]

Dagong rates Norway, Denmark, Switzerland, and Singapore at AAA, along with the commodity twins Australia and New Zealand.

How in the world could these two socialist countries be rated higher than the U.S.?

Norway's government generates a lot of revenue off of offshore drilling.

[hugolp]

The europeans (germans) are talking a lot about setting some european rating companies too.

If they finally do the declarations and ratings war that is going to happen between the different factions is going to be interesting.

[Stary Hickory]

Who hell do these Chinamen think they are? ....Oh yeah they own like 10 kajillion dollars.....it's so horrible it's funny.