China Downgrades United States Credit

[sunshine05]

China Downgrades United States Credit

Posted 2010-11-09 10:24
by Karl Denninger
in International


Tuesday, November 09, 2010 10:08:03 AM

(CH) Chinese rating agency Dagong Global Credit downgrades US credit rating due to QE program (update) - Chinese press

- Cut long term US sovereign rating one notch to A+ from AA, with a negative outlook.
- "The serious defects in the U.S. economy will lead to long-term recession and fundamentally lower the national solvency. The credit crisis is far from over in the United States and the U.S. economy will be in a long-term recession." Weaker dollar will hurt US ability to attract dollar capital reflow. "In essence, the U.S. government's move to devalue the dollar indicates its solvency is on the brink of collapse"

Yep.

Gee, you think someone has been paying attention to Greenspan and the admissions of our banks?

Keep buying stocks guys.......

Oh, does anyone remember how quickly the cascade got going when Lehman and Bear were downgraded? Yeah.....

There is no fix for this other than to take those institutions that are insolvent into receivership and clean them out - roto-rooter style. It should have been done in 2007 but our regulators and politicians were too well-bribed to do what had to be done.

The longer we wait to do it, the worse the damage will be and if we wait too long, the damage will be catastrophic.

WE MUST ACT NOW.

http://market-ticker.org/post=171703

[Ponce]

Obama better stop taking trips overseas, specially to China........I call it "The please give me trip".

[k-os]

This is HUGE news. Thanks for posting, sunshine05. Aren't you just a ray of sunshine today? ;)

[Gaillo]

This news is potentially more damaging and destructive than any "false flag" predicted for today. Looks like the webbots might be correct - that this weeks crisis leading up to the 14th is of an economic nature!

[k-os]

This news is potentially more damaging and destructive than any "false flag" predicted for today.


This is exactly how I feel.

[Spectrism]

OK... if China won't loan us anymore money then I won't be buying anymore cheap plastic poisonous crap from China. How dare them think we would buy their junk with our own money!

[Ares]

How dare them think we would buy their junk with our their own money!

Fixed it for ya, only reason we had the money was because the slave labor pool from China loaned it to us.

[Ponce]

This is the first step to the fifteen steps TEOTWAWKI.

[SHTF2010]

This is the first step to the fifteen steps TEOTWAWKI.


there's a list ?

[Ponce]

Yes, some kind of show by a famous host.......I never pay attentions to names but only to the message.

Step fifteed is riots and people fighting for food.

[V10Silver]

This is the first step to the fifteen steps TEOTWAWKI.


there's a list ?


What?? You didn't see Beck on Friday. He had an expert layout what happens when China say no more loans. Mind you I said when. This expert laid out that within fifteen days our lives as we knew them are completely changed.
This week he's going after Soros. Say what you want about him but he's been more right then wrong and speaks as if he was a member here.....

[SHTF2010]

i guess i'll have to find the friday Beck show for the 15 step TEOTWAEKI list

[mick silver]

ok who the hell do they think they are .... are rulers are something

[k-os]

This is the first step to the fifteen steps TEOTWAWKI.


there's a list ?


What?? You didn't see Beck on Friday. He had an expert layout what happens when China say no more loans. Mind you I said when. This expert laid out that within fifteen days our lives as we knew them are completely changed.
This week he's going after Soros. Say what you want about him but he's been more right then wrong and speaks as if he was a member here.....


Other than his undying love for Israel, of course. That, and he says buys from Goldline. ;D

[AOW]

I guess Bernanke will just have to offer them a higher yield - maybe much higher. :o

[cthulu]

They should downgrade it to junk status, but that would result in a bunch of people getting upset they can't shop at walmart and wanting to nuke everyone.

[Libertarian_Guard]

Question

Will the 600 billion, of the QE2 be added on top of the app. 13 trillion U.S. debt? Or is this a shell game?

[Fortyone]

This is the first step to the fifteen steps TEOTWAWKI.


there's a list ?


What?? You didn't see Beck on Friday. He had an expert layout what happens when China say no more loans. Mind you I said when. This expert laid out that within fifteen days our lives as we knew them are completely changed.
This week he's going after Soros. Say what you want about him but he's been more right then wrong and speaks as if he was a member here.....


Other than his undying love for Israel, of course. That, and he says buys from Goldline. ;D



He contradicts himself concerning Israel more often than not,He will blame the Jews individually,like Soros, but not damn the entire group, probably to avoid anti-semite backlash from the rest of the MSM,Dobbs used to do the same. as for Goldline,He likely gets a reduced rate for his AG as part of his advertising fee. I think he is less of a Shill than others and I a lot of truth in his reports.

[Libertarian_Guard]

This is the first step to the fifteen steps TEOTWAWKI.


there's a list ?


What?? You didn't see Beck on Friday. He had an expert layout what happens when China say no more loans. Mind you I said when. This expert laid out that within fifteen days our lives as we knew them are completely changed.
This week he's going after Soros. Say what you want about him but he's been more right then wrong and speaks as if he was a member here.....


Other than his undying love for Israel, of course. That, and he says buys from Goldline. ;D



He contradicts himself concerning Israel more often than not,He will blame the Jews individually,like Soros, but not damn the entire group, probably to avoid anti-semite backlash from the rest of the MSM,Dobbs used to do the same. as for Goldline,He likely gets a reduced rate for his AG as part of his advertising fee. I think he is less of a Shill than others and I a lot of truth in his reports.


Fortyone

This is bunk. In what other instance do you "damn the entire group" - - and I'm not defending Glen Beck.

[Fortyone]

I think you know my feelings concerning Zionists, He blames them on the individual level according to celebrity.He will not name them as a group to avoid anti semite accusations.Most sheep are too stupid to reason that every time he brings one to light 1000s more scurry under the molding and out of sight.