How the mighty have fallen-Chinese agency cuts US credit rating


By lostand confused   Follow   Wed, 26 Dec 2012, 5:28am   447 views   8 comments
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http://www.businessinsider.com/merry-christmas-chinese-credit-ratings-agency-dagong-puts-the-us-on-negative-watch-2012-12

Dagong Global Credit Rating Co., Ltd. (hereinafter referred to as “Dagong”) releases a credit rating report on December 25th, 2012, putting the United States of America (hereinafter referred to as “U.S.”) on Negative Watch List. Dagong downgraded the local and foreign currency sovereign credit ratings of the U.S. from A+ to A, and each with a negative outlook on August 2, 2011. According to the changes in the situation during the surveillance period, Dagong has decided to put the sovereign credit ratings of the U.S. on Negative Watch List. The main reasons are as follows: 1. The political conflict and...

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  1. APOCALYPSEFUCKisShostikovitch


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    1   5:51am Wed 26 Dec 2012   Share   Quote   Permalink   Like (6)   Dislike (1)  

    Is there a rating agency for fucking slavery? Buying or trading with China is a crime against humanity.

  2. errc


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    2   7:00am Wed 26 Dec 2012   Share   Quote   Permalink   Like (1)   Dislike (1)  

    APOCALYPSEFUCK is Shostakovich says

    Is there a rating agency for fucking slavery? Buying or trading with China is a crime against humanity.

    Yes, china is rated A+

    And I for one, as an american,, want to take a moments break from driving around in my foriegn car using middle eastern oil, to fingerwave at the boogeyman for all our problems. Sure as shit ain't my fault, dog!

  3. lostand confused


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    3   8:17am Wed 26 Dec 2012   Share   Quote   Permalink   Like   Dislike  

    I just find it funny that China which rose, because of outsourcing from the US and Europe is now marking down its biggest customer.

    I think the old Chinese curse,"May you live in interesting times," may hold water here.

  4. uomo_senza_nome


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    4   9:37am Wed 26 Dec 2012   Share   Quote   Permalink   Like (1)   Dislike  

    I think "do not watch what they say, but watch what they do" will be very applicable here.

    The Chinese have accumulated more than $3 trillion in US treasuries. So their accumulation is directly related to the fiscal profligacy of the United States. Without a saver saving the debt, how can the debtor keep issuing the debt? They can't sell too quickly as that will destroy their portfolio.

    I also think most of the Chinese wealthy save in foreign currencies such as the dollar and the euro, as the renminbi is a weak currency and inflation in china is rampant.

    So sure Dagong can downgrade US debt, but that's basically noise.

  5. CaptainShuddup


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    5   10:52am Wed 26 Dec 2012   Share   Quote   Permalink   Like   Dislike (1)  

    Well it's a start.

  6. APOCALYPSEFUCKisShostikovitch


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    6   10:56am Wed 26 Dec 2012   Share   Quote   Permalink   Like (1)   Dislike  

    It's likely prelude to the invasion, conquest and rape of California.

    The PLA will announce that white dog Americans are unreliable devils destroying their currency to avoid paying the Han their due, leaving them only one choice: seizure of in-kind assets to repay the debt.

    We'll wake up one morning with mushroom clouds over SF and LA and the hammer and sickle flying over Sacramento.

  7. 121212


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    7   11:23am Wed 26 Dec 2012   Share   Quote   Permalink   Like (2)   Dislike  

    The Chinese will be shown to have manipulated it's own currency and stock markets in the future.

    Major accounting flaws, lies and bribery have corrupted the entire capital system in China.

    Invest in China at your peril, they lie about the real values of their quoted businesses.

  8. APOCALYPSEFUCKisShostikovitch


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    8   1:54pm Wed 26 Dec 2012   Share   Quote   Permalink   Like (2)   Dislike  

    A friend barely got out with his investment back after 2 years. Everyone was lying to him. Subcontractors, people he hired, his customers, to an extent he knew it would be impossible to scale the business to any degree.

    Veracity in commerce, t'ain't an option, McGee!

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