Friday, 14 January 2011

Chinese Rating Agency Says U.S. Debt Has SAME Credit Rating As Costco Stores, Calculates U.S. ACTUAL GDP At $5 Tillion, Not The Official $14 Trillion

The Chinese rating agency, which hit headlines earlier this year for its AA-view on the United States, is back, with another US downgrade.

From the 10-Page Downgrade Report:

The serious defects in the United States economic development and management model will lead to the long-term recession of its national economy, fundamentally lowering the national solvency. The new round of quantitative easing monetary policy adopted by the Federal Reserve has brought about an obvious trend of depreciation of the U.S. dollar, and the continuation and deepening of credit crisis in the U.S.

Such a move entirely encroaches on the interests of the creditors, indicating the decline of the U.S. government’s intention of debt repayment. 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.

http://dailybail.com/home/chinese-rating-agency-says-us-as-creditworthy-as-costco-pegs.html

The USA definitely a HUGE risk to creditors. This becomes more obvious when you accept that America is in an economic depression and the only thing keeping it "afloat" is fraud and money printing.

[Posted at the SpookyWeather blog, January 14th, 2011.]

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