China downgrades us credit rating from a- to bbb+

[darkbeaver]

Jan 16 11:19

CHINA DOWNGRADES US CREDIT RATING FROM A- TO BBB+, WARNS US INSOLVENCY WOULD “DETONATE NEXT CRISIS”



In its latest reminder that China is a (for now) happy holder of some $1.2 trillion in US Treasurys, Chinese credit rating agency Dagong downgraded US sovereign ratings from A- to BBB+ overnight, citing “deficiencies in US political ecology” and tax cuts that “directly reduce the federal government’s sources of debt repayment” weakening the base of the government’s debt repayment.
Oh, and just to make sure the message is heard loud and clear, the ratings, which are now level with those of Peru, Colombia and Turkmenistan on the Beijing-based agency’s scale of creditworthiness, have also been put on a negative outlook.

​

 

[Cannuck]

Well there's a surprise.

 

[coldstream]

The U.S. needs to renationalize its currency.. monetarize its debt.. and end monetarism (commodification and free trade in currency and credit). The entire Monetarist era which is inextricably linked with free trade and globalism is unsustainable. It's not just the U.S that is danger of default.. it the entire world's financial system, which in now built of chimera orchestrated to the benefit of investment banks and global financial oligarchs.

 

[darkbeaver]

Well there's a surprise.

Yes and no.

 

[petros]

The USD is deliberately being devalued.

 

[darkbeaver]

It,s global reserve currency status is the (at risk target), I believe.

 

[petros]

Nope. Everybody sitting on it loses out.

That's the target.

 

[Hoid]

What? Someone noticed the US just gave a trillion bucks to rich people? Who notices tiny details like that?

I am guessing that will replace that revenue with maga hat profits

 

[Danbones]

LOL, after obama's doubling the debt left by every other president before him...

was there any doubt?

No, Everyone knew this was coming long before Trump.

LOL.

Knowing what the market has to do isn't valuable information, just forget you know it.

 

[petros]

If you have too much currency floating around you devalue it, buy it back for cheap and destroy it leaving less in circulation giving it far more buying power.

 

[Cannuck]

Yes and no.

No...

 

[darkbeaver]

Nope. Everybody sitting on it loses out.

That's the target.

Yes but how or what will the US maintain global #1ness with?

 

[Curious Cdn]

Yes but how or what will the US maintain global #1ness with?

Hollywood makes America unbeatable. When the aliens finally invade, an American ... the very last manly-man American ... will save the planet!

 

[petros]

Yes but how or what will the US maintain global #1ness with?

Shale Oil. Billions and Billions of barrels.

Energy independence is an economic Holy Grail.

It's also a prime time to go into a massive war.

The more USD that comes home, the harder it is to be manipulated in a time of conflict.

Spend the time to watch this:

https://www.bloomberg.com/news/videos/2017-11-10/the-next-shale-revolution-video

 

[darkbeaver]

Shale Oil. Billions and Billions of barrels.

Energy independence is an economic Holy Grail.

It's also a prime time to go into a massive war.

The more USD that comes home, the harder it is to be manipulated in a time of conflict.

Spend the time to watch this:

https://www.bloomberg.com/news/videos/2017-11-10/the-next-shale-revolution-video

OK suppose they do have the sustainable oil wells and the continental domestic market in lockdown and two oceans to cross with tankers to secure the rest. I,ll conceed that for the time being. How will they compete with supplys much closer to the global markets, less continental North America, without military/economic superiority? In my opinion the fracking is good enough to maintain Fortress North America only for an undetermined limited time and it is still necessary that they secure the markets outside of this continent.

The more USD that comes home, the harder it is to be manipulated in a time of conflict.

Are you fogetting that the manipulation of the American dollar is a policy of elements non American already long entrenched internally
in American politics. The USA is not really a domestic US dominated project but rather an internationalist economic programe of long standing of pump hard and then dump. The answers are in the past projects. Hey, good music in that Bloomberg commercial.

 

[Hoid]

in this century the Chinese will develop the leading global economy. They will become the New Boss.

 

[petros]

RMB is the new currency to manipulate. The Chinese are going to be slammed with crazy infration.

The induced devaluation of the RMB by Beijing is going bye bye and exports along with it.

This is gonna be fuuuuuun!

 

[darkbeaver]

That,s probably the thinking of the project as well. Aren,t the internationalist clever? The climate will determine how much fun we have going forward. I see a lot of cancelled school days ahead. And a great deal more hunger.

 

[petros]

The next 7 years are going to be interesting.

 

[darkbeaver]

Looks like they,ll be cold as well.