The United States has lost its double-A credit rating with Dagong Global Credit Rating Co., Ltd., the first domestic rating agency in China, due to its new round of quantitative easing policy.
Dagong Global on Tuesday downgraded the local and foreign currency long-term sovereign credit rating of the U.S. by one level to A+ from previous AA with “negative” outlook.
The Chinese rating agency said the downgrade reflected the U.S.’s deteriorating debt repayment capability and drastic decline of the U.S. government’s intention of debt repayment.
“The serious defects in the U.S. economy will lead to long-term recession and fundamentally lower the national solvency,” Dagong said in a report.
Showing posts with label United States. Show all posts
Showing posts with label United States. Show all posts
Wednesday, November 10, 2010
Tuesday, March 2, 2010
5 Ugly Truths Americans Will Have to Face
John Hawkins writes over at TownHall that there are
5 Truths that Americans have to face.
1) Entitlements must be cut.
2) Our military is going to weaken.
3) Taxes are going up.
4) Economic growth is going to stagnate.
5) We will have a world where the United States isn't a super power.
Hawkins is pessimistic. He says,
Are these events that "will be" or "may be?" If we depart from the course our nation is on, will "the ends" change for our nation or are we too far gone down the road to serfdom? Sadly, we've run so aggressively towards a socialist oblivion that our country may be on the backside of the mountain and unable to climb back to the top. Time will tell, but after all the privileges we've had growing up as Americans in this great nation, we have a solemn duty to bear whatever we must as a country to pass on the promise, the potential, and the dream of America to future generations.
I am more confident. I have great confidence in the American People. I have seen great numbers turn out for events. More and more people are becoming active every day. The people will not let this stand.
5 Truths that Americans have to face.
1) Entitlements must be cut.
2) Our military is going to weaken.
3) Taxes are going up.
4) Economic growth is going to stagnate.
5) We will have a world where the United States isn't a super power.
Hawkins is pessimistic. He says,
Are these events that "will be" or "may be?" If we depart from the course our nation is on, will "the ends" change for our nation or are we too far gone down the road to serfdom? Sadly, we've run so aggressively towards a socialist oblivion that our country may be on the backside of the mountain and unable to climb back to the top. Time will tell, but after all the privileges we've had growing up as Americans in this great nation, we have a solemn duty to bear whatever we must as a country to pass on the promise, the potential, and the dream of America to future generations.
I am more confident. I have great confidence in the American People. I have seen great numbers turn out for events. More and more people are becoming active every day. The people will not let this stand.
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