$$$ China: Dagong is likely to downgrade US rating (regardless of debt limit) $$$ | |
Anonymous Coward User ID: 1001653 United States 07/13/2011 11:44 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward (OP) User ID: 546759 United States 07/13/2011 11:45 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1464187 United States 07/13/2011 11:45 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 26159 United States 07/13/2011 11:48 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward (OP) User ID: 546759 United States 07/13/2011 11:49 PM Report Abusive Post Report Copyright Violation | QE3 is something the Chinese...and others...do not like much. And a legitimate reason for such a downgrade also. Quoting: Anonymous Coward 1464187WORLD FOREX: Euro Gains As Bernanke Says QE3 May Yet Happen [link to online.wsj.com] Happy days are here again! |
Anonymous Coward User ID: 1162395 United States 07/13/2011 11:49 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward (OP) User ID: 546759 United States 07/13/2011 11:49 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1328412 United States 07/13/2011 11:50 PM Report Abusive Post Report Copyright Violation | "borrowing to pay off loans won't work" Quoting: Anonymous Coward 1001653Isn't that the rob Peter, pay Paul policy? Probably the best thing that could happen to this country is to have China cut us off and quit shipping junk over here. I mean, heaven forbid we have to manufacture our own junk. |
Anonymous Coward (OP) User ID: 546759 United States 07/13/2011 11:51 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1423286 United States 07/13/2011 11:51 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward (OP) User ID: 546759 United States 07/13/2011 11:58 PM Report Abusive Post Report Copyright Violation | How about we tell the Chinese to STFU or we'll slap a 50 percent tariff on all the cheap shit their slaves sell to us? Quoting: Anonymous Coward 1162395I agree, but the time to do that was 15 years ago. The American consumer has already been bled dry by the financial crisis and the fed's inflation, further increasing the cost of their everyday good's would mean that on top of being homeless, they'd also be clothless too. |
Anonymous Coward User ID: 1353514 United States 07/14/2011 12:03 AM Report Abusive Post Report Copyright Violation | China Dagong Rating Agency Chairman: US Debt On Negative Watch [link to online.wsj.com] |
Anonymous Coward (OP) User ID: 546759 United States 07/14/2011 12:04 AM Report Abusive Post Report Copyright Violation | Quoting: Anonymous Coward 1353514 |
General Troll, US Shillitary
User ID: 1288670 United States 07/14/2011 12:06 AM Report Abusive Post Report Copyright Violation | "What you have just said, is the most insanely idiotic thing I have ever heard. At no point, in your rambling incoherent response were you even close to anything that could be considered a rational thought. Everyone in this room is now dumber for having listened to it. I award you no points and may God have mercy on your soul." |
Anonymous Coward User ID: 1464187 United States 07/14/2011 12:12 AM Report Abusive Post Report Copyright Violation | How about we tell the Chinese to STFU or we'll slap a 50 percent tariff on all the cheap shit their slaves sell to us? Quoting: Anonymous Coward 1162395Well, since we are the ones who pay the tariff get ready for more expensive stuff from China....or in other words....about everything. |
Anonymous Coward (OP) User ID: 546759 United States 07/14/2011 12:16 AM Report Abusive Post Report Copyright Violation | How about we tell the Chinese to STFU or we'll slap a 50 percent tariff on all the cheap shit their slaves sell to us? Quoting: Anonymous Coward 1162395Well, since we are the ones who pay the tariff get ready for more expensive stuff from China....or in other words....about everything. Exactly. |
Bio-hazard
User ID: 878454 United States 07/14/2011 12:23 AM Report Abusive Post Report Copyright Violation | Da Gong? Oh no not Da Gong anything but Da Gong Quoting: Anonymous Coward 26159Laugh if you'd like, but i'm pretty sure that we've become the joke. Lol, "pretty sure"? We are a joke.........the sad thing is, the jokes on us. Let them all down grade us......something needs to be done to stop the stupidity that's going on. I really think they are trying to destroy this nation. COUNTRY FIRST These are possibly the 5 best sentences you'll ever read: 1. You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity. 2. What one person receives without working for, another person must work for without receiving. 3. The government cannot give to anybody anything that the government does not first take from somebody else. 4. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is the beginning of the end of any nation. 5. You cannot multiply wealth by dividing it. |
Anonymous Coward (OP) User ID: 546759 United States 07/14/2011 12:26 AM Report Abusive Post Report Copyright Violation | Da Gong? Oh no not Da Gong anything but Da Gong Quoting: Anonymous Coward 26159Laugh if you'd like, but i'm pretty sure that we've become the joke. Lol, "pretty sure"? We are a joke.........the sad thing is, the jokes on us. Let them all down grade us......something needs to be done to stop the stupidity that's going on. I really think they are trying to destroy this nation. "Think"? ;-) |
Anonymous Coward User ID: 1360216 United States 07/14/2011 12:29 AM Report Abusive Post Report Copyright Violation | Weren't the Chinese just saying a couple weeks back, that the U.S. should raise the debt ceiling? BTW, don't give me the B.S. that Dagong is privately owned...Everything there is operated by the government, one way or another. FWIW, they're right. You can't pay off loans with loans. |
Bio-hazard
User ID: 878454 United States 07/14/2011 12:30 AM Report Abusive Post Report Copyright Violation | Da Gong? Oh no not Da Gong anything but Da Gong Quoting: Anonymous Coward 26159Laugh if you'd like, but i'm pretty sure that we've become the joke. Lol, "pretty sure"? We are a joke.........the sad thing is, the jokes on us. Let them all down grade us......something needs to be done to stop the stupidity that's going on. I really think they are trying to destroy this nation. "Think"? ;-) Yeah, they know exactly what they are doing.......... COUNTRY FIRST These are possibly the 5 best sentences you'll ever read: 1. You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity. 2. What one person receives without working for, another person must work for without receiving. 3. The government cannot give to anybody anything that the government does not first take from somebody else. 4. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is the beginning of the end of any nation. 5. You cannot multiply wealth by dividing it. |
Anonymous Coward User ID: 1286880 Australia 07/14/2011 12:30 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1353514 United States 07/14/2011 12:31 AM Report Abusive Post Report Copyright Violation | Weren't the Chinese just saying a couple weeks back, that the U.S. should raise the debt ceiling? Quoting: Anonymous Coward 1360216BTW, don't give me the B.S. that Dagong is privately owned...Everything there is operated by the government, one way or another. FWIW, they're right. You can't pay off loans with loans. Stop thinking and buy a friggin GM car already, Citizen! |
Anonymous Coward User ID: 1462663 New Zealand 07/14/2011 12:33 AM Report Abusive Post Report Copyright Violation | Debt limit aside, borrowing to pay off loans won't work, agency says Quoting: Anonymous Coward 546759The US' sovereign credit rating is likely to be downgraded regardless of whether the US Congress reaches an agreement on raising its statutory debt limit, Chinese rating agency, Dagong Global Rating Co Ltd, said on Monday. "If the debt limit is raised and the public debt continues to grow, it will further damage the US' debt-paying ability, which is a key factor in Dagong's evaluation, and we will consider lowering its ratings accordingly," said Guan Jianzhong, chairman and CEO of Dagong. "If the raised limit fails to pass and the US faces default, the rating will be immediately and substantially downgraded," he said. According to Guan, the downgrading is really just "a matter of time and extent". Guan spoke after the US Treasury Department warned that the nation will exhaust its borrowing authority under the $14.29 trillion debt limit on Aug 2 and urged Congress to raise the statutory debt limit "to avoid the catastrophic economic and market consequences of a default crisis". The three major international rating agencies, Moody's Investors Service Inc, Fitch Inc and Standard & Poor's Financial Services LLC (S&P) each warned in June that they would downgrade the US sovereign credit rating in the event of a default. The country's rating now stands at A+ in domestic and foreign currency on Dagong's list, with negative outlooks to its future, much lower than the result of the US rating agencies. Dagong's rating was downgraded from AA on Nov 9 after the US government announced a second round of quantitative easing (QE2). Dagong published its first sovereign credit ratings in July 2010 and now offers surveillance ratings of 67 countries. The US Securities and Exchange Commission denied Dagong's application for Nationally Recognized Statistical Rating Organization (NRSRO) status because it is not able to implement cross-border supervision to the agency. Although Guan considers the US Congress still very likely to reach an agreement on raising the debt limit, he remains concerned about the fundamental issue the US faces. "Raising the limit is just a legislative measure to allow the government to borrow more money, but it does not change the fact that the US lacks momentum for economic growth," Guan said, adding that if the inflation and unemployment rates remain unchanged, the US government might turn to QE3. The fundamental problem is that the US' ability to generate wealth is far from compensating its increasing debt, and "paying debts by borrowing more is not a solution," he said. "Neither the $2 trillion QE nor raising the debt limit is an effective measure. And the sovereign debt crisis will continue," Guan said, explaining that the US government spent huge amounts on consumption and social security, and had limited resources left for economic development. Yuan Gangming, a researcher at the Center for China in the World Economy (CCWE) at Tsinghua University, said the US government is currently in an abnormal post-crisis period, so increasing the scale of debt will be a long-term and regular measure before the country's economy is back on track. So raising the debt limit would be good news for investors, but bad for China, the largest holder of US Treasury securities, he said. "Although reducing US Treasury holdings seems like a choice, China will have to continue its investment, because, after all, we have very limited choices of investment," Yuan said. David Dollar, the US Treasury Department's Economic and Financial Emissary to China, believed the market of the US treasury securities is still optimistic. But the social security and military spending have to be taken into account if the government is to reduce the deficit. The top 15 debtor nations, all of which are developed countries, account for more that 90 percent of the credit resources globally, yet only contributed 3 percent to global economic growth the year before the 2008 crisis. [link to www.chinadaily.com.cn] ----- China gets it. What did Ding Dong do in the days when China was rated for rice and Mao suits? |
Anonymous Coward User ID: 1353514 United States 07/14/2011 12:35 AM Report Abusive Post Report Copyright Violation | Ratings agencies, comin' atcha! Moody’s Will Cut 7,000 Municipal Ratings If U.S. Debt Downgraded [link to www.bloomberg.com] |
Anonymous Coward User ID: 1462663 New Zealand 07/14/2011 12:36 AM Report Abusive Post Report Copyright Violation | How about we tell the Chinese to STFU or we'll slap a 50 percent tariff on all the cheap shit their slaves sell to us? Quoting: Anonymous Coward 1162395Fuck off. They do a sensational line in cut priced garden gnomes. |
Kirk
User ID: 1363969 United States 07/14/2011 12:36 AM Report Abusive Post Report Copyright Violation | Da Gong? Oh no not Da Gong anything but Da Gong Quoting: Anonymous Coward 26159Laugh if you'd like, but i'm pretty sure that we've become the joke. Lol, "pretty sure"? We are a joke.........the sad thing is, the jokes on us. Let them all down grade us......something needs to be done to stop the stupidity that's going on. I really think they are trying to destroy this nation. club of Rome said we have to go because we are enabling global overpopulation. Read their stuff. Government is a body largely ungoverned. |
Anonymous Coward User ID: 1467028 China 07/14/2011 12:43 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1302156 United States 07/14/2011 12:45 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1353514 United States 07/14/2011 12:47 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1400883 United States 07/14/2011 12:52 AM Report Abusive Post Report Copyright Violation | |