MisterSams
New member
Buffet is a self serving faggot, of course he would say that. He has so much tied up in US BonRAB
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Dollar to Be 'Discarded' by World: China Rating Agency
- Thread starter MisterSams
- Start date
MacDaddy_101
New member
Democrats had two years of absolute control to pass a budget and couldn't
Yet, it is the Republcians fault
Yet, it is the Republcians fault
Children of Trojans
New member
http://www.cnbc.com/id/44050325
Dollar to Be 'Discarded' by World: China Rating Agency
| 07 Aug 2011 | 10:28 AM ET
The man who leaRAB one of China’s top rating agencies says the greenback’s status as the world’s reserve currency is set to wane as the world’s most powerful policy makers convene to examine the implication of S&P’s decision to strip the United States of its triple “A” rating.
In comments emailed to CNBC, Guan Jianzhong, chairman of Dagong Global Credit Rating, said the currency is “gradually discarded by the world,” and the “process will be irreversible.”
Dagong made headlines last week when it became the first rating agency to cut its U.S. credit rating from “A+” to “A” after policymakers in Washington failed to act in a timely manner to lift its debt celing.
However, the announcement failed to register in the markets as investors have yet to decide whether to take the Beijing-based company seriously.
“It has been around for quite a while, but I do not know of anyone assigning risk assessment to thir portfolio according to Dagong,” said Steen Jakobsen, chief economist at Saxo Bank. “However, clearly the rating industry could do with some competition and deviance from firm beliefs.”
But Guan’s observation—made just before S&P slashed its ratings on the world’s biggest economy—now seems strangely prescient.
“I think the most pressing issue facing the U.S. at the moment is to reflect on the crisis which happened in relation with the debt ceiling," Guan said. "They should get a clear understanding that the continuous decline of the debt service capability will inevitably result in the outbreak of a sovereign debt crisis.”
His sentiment is also reflected in a strongly worded editorial published by China’s official Xinhua news agency on Saturday that is widely seen as a thinly-veiled criticism of U.S. fiscal and economic policies from Beijing.
The editorial called for “international supervision over the issue of U.S. dollars” and the introduction of “a new, stable and secured global reserve currency.”
It also noted that as its largest creditor, Beijing has every right “to demand the United States to address its structural debt problems and ensure the safety of China's dollar assets.”
Dollar to Be 'Discarded' by World: China Rating Agency
| 07 Aug 2011 | 10:28 AM ET
The man who leaRAB one of China’s top rating agencies says the greenback’s status as the world’s reserve currency is set to wane as the world’s most powerful policy makers convene to examine the implication of S&P’s decision to strip the United States of its triple “A” rating.
In comments emailed to CNBC, Guan Jianzhong, chairman of Dagong Global Credit Rating, said the currency is “gradually discarded by the world,” and the “process will be irreversible.”
Dagong made headlines last week when it became the first rating agency to cut its U.S. credit rating from “A+” to “A” after policymakers in Washington failed to act in a timely manner to lift its debt celing.
However, the announcement failed to register in the markets as investors have yet to decide whether to take the Beijing-based company seriously.
“It has been around for quite a while, but I do not know of anyone assigning risk assessment to thir portfolio according to Dagong,” said Steen Jakobsen, chief economist at Saxo Bank. “However, clearly the rating industry could do with some competition and deviance from firm beliefs.”
But Guan’s observation—made just before S&P slashed its ratings on the world’s biggest economy—now seems strangely prescient.
“I think the most pressing issue facing the U.S. at the moment is to reflect on the crisis which happened in relation with the debt ceiling," Guan said. "They should get a clear understanding that the continuous decline of the debt service capability will inevitably result in the outbreak of a sovereign debt crisis.”
His sentiment is also reflected in a strongly worded editorial published by China’s official Xinhua news agency on Saturday that is widely seen as a thinly-veiled criticism of U.S. fiscal and economic policies from Beijing.
The editorial called for “international supervision over the issue of U.S. dollars” and the introduction of “a new, stable and secured global reserve currency.”
It also noted that as its largest creditor, Beijing has every right “to demand the United States to address its structural debt problems and ensure the safety of China's dollar assets.”
Percyboy:R.I.P MJ !
New member
let's analyze:
2009 - democrats control everything for 2 years. they accomplish nothing. the govt almost shut down due to their inaction. all they did was ram shit laws down everyone's throat (healthcare bill)
2011 - repubs control house. country still split 50/50. each party bitches and cries and together they accomplish nothing relevant. obama does nothing to even attempt to unify congress or the country
president neeRAB to go. most of congress neeRAB to be voted out in the upcoming election
2009 - democrats control everything for 2 years. they accomplish nothing. the govt almost shut down due to their inaction. all they did was ram shit laws down everyone's throat (healthcare bill)
2011 - repubs control house. country still split 50/50. each party bitches and cries and together they accomplish nothing relevant. obama does nothing to even attempt to unify congress or the country
president neeRAB to go. most of congress neeRAB to be voted out in the upcoming election
The USG could pay all interest easily with their income. It is a strawman to argue that they would have defaulted on their obligations. You know that.
They would have simply shut most of the govt down. They would have had to choose to not pay our interest payments.
To argue our credit would have been "fucked" is simply incorrect. Nothing would have happened to our income and paying our interest..
They would have simply shut most of the govt down. They would have had to choose to not pay our interest payments.
To argue our credit would have been "fucked" is simply incorrect. Nothing would have happened to our income and paying our interest..
volleyballxoxox
New member
obama is a failure. anyone with common sense can see that.
he is at rock bottom for approval rating in his career. he is pathetic.
but i'm sure he'll be voted back in. america is fucking stupid
he is at rock bottom for approval rating in his career. he is pathetic.
but i'm sure he'll be voted back in. america is fucking stupid