China Official: It's Too Late, U.S. Already 'Defaulting'

Discussion in 'Politics' started by WillowTree, Jun 11, 2011.

  1. WillowTree
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    WillowTree Diamond Member

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    As lawmakers scramble to cut a budget deal and avoid defaulting on U.S. debt, the head of a top Chinese rating agency claims it's too late.

    Guan Jianzhong, president of Dagong Global Credit Rating Co. Ltd., reportedly told state media that the United States has already defaulted by letting the U.S. dollar weaken.

    "In our opinion, the United States has already been defaulting," Guan was quoted as saying, according to AFP.

    China, likewise, has long come under criticism for allowing its currency to weaken. But while Dagong Global is known for being tough on the U.S., Guan's words carry extra sting as they follow warnings from three top rating agencies about U.S. finances.

    Fitch is the latest to warn the U.S. that its sterling credit rating could be at risk if it fails to raise its $14.3 trillion debt ceiling or fails to rein in its long-term deficits.

    Moody's and Standard & Poor's have already issued similar warnings.


    Read more: China Official: It's Too Late, U.S. Already 'Defaulting' - FoxNews.com
     
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  2. WillowTree
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    WillowTree Diamond Member

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    Maybe we need to take a close look at Romney and maybe he should invite Trump along to help.. I'd vote for them.
     
  3. B. Kidd
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    B. Kidd Gold Member

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    The Chinese are getting more pissed by the day.
    They are getting to the point when they tell us, "No tickee, no laundry."
     
  4. iamwhatiseem
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    iamwhatiseem Gold Member

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    I wouldn't put any weight whatsoever in what a single Chinese official says publicly or even privately.
    We can never forget that it is US that has put them in a great position.
    We can destroy the tremendous global threat China is - by simply stopping buying their cheap shit by the cart full.
     
  5. Google
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    Google Gold Member

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    "Guan Jianzhong, president of Dagong Global Credit Rating Co. Ltd., reportedly told state media that the United States has already defaulted by letting the U.S. dollar weaken. "

    This should be front page material. This is an affirmation of everything Ron Paul has been saying for over a decade.
     
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  6. B. Kidd
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    B. Kidd Gold Member

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    You do know that we are approx. 1 trillion in debt to them as we continue to go broke. And there are other emerging global markets they can sell to.
    But if you think we are still that 'exceptional', have at it.
     
  7. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Yeah no biggie nothing to see here.

    Hope

    Change

    Yes We Can pile up an annual deficit that is bigger than any Reagan budget and has to be in scientific notation.
     
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  8. CrusaderFrank
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    CrusaderFrank Diamond Member

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    "The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. ... It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our government's reckless fiscal policies." -- Barack Hussein Obama, Community Organizer and low-level socialist agitato
     
  9. B. Kidd
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    At this point, the question may be no longer about IF we default, but WHEN we default.
     
  10. Kevin_Kennedy
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    Kevin_Kennedy Defend Liberty

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    Neither of them would do anything about our weakening dollar. Romney already stated he won't be going after the Fed in his campaign.
     

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