Chinese Credit Rating Company Downgrades U.S.
November 9th, 2010I wonder if Chinese television is carrying the one about the “mystery” missile launch…
Via: Bloomberg:
China’s Dagong Global Credit Rating Co. cut its credit rating for the U.S. to A+ from AA because of a Federal Reserve plan to purchase bonds to spur growth and inflation, according to Xinhua News Agency.
The credit outlook for the U.S. is negative amid deteriorating debt repayment capability and a “drastic” drop in the government’s intention to repay debt, Dagong said, as cited by the state-controlled news agency. The Fed’s quantitative easing policy will erode the value of the dollar and is against the interests of creditors, the company said.
“Serious defects in the U.S. economy will lead to long- term recession and fundamentally lower national solvency,” Dagong said, as cited by Xinhua.
ZeroHedge makes the correlation between the launch and the downgrade, and then has some commentary about the fact that, it could possibly not even be our missile! http://www.zerohedge.com/article/was-last-nights-launch-rogue-missle-warning-asia