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

[saveliberty]

Then there is the whole argument about what Congress can Constitutionally spend. Much of this grew out of the payment of wages and benefits to soldiers and their widows, a frequent subject of Congressional bills early on. You read much more into this than there truly is.

 

[Moonglow]

according to the Constitution, all debts must be paid.

Another Huffington genius I see.

another asshole that can't speak decently, even if I am wrong

 

[saveliberty]

according to the Constitution, all debts must be paid.

Another Huffington genius I see.

another asshole that can't speak decently, even if I am wrong

I'm not going to take someone with an avatoar like you seriously EVER.

 

[Moonglow]

Another Huffington genius I see.

another asshole that can't speak decently, even if I am wrong

I'm not going to take someone with an avatoar like you seriously EVER.

that should be refreshing

 

[BolshevikHunter]

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

I am sure that the international banking gangsters are already planning a pretext to War with China in order to default entirely in the name of human rights and the freedom of the Chinese people. ~BH

 

[Dot Com]

Yeah. This happened overnight. Not like jobs have been outsourced and blue-collar, real wages have been stagnant for decades

 

[Flopper]

At this point, the question may be no longer about IF we default, but WHEN we default.

If we don't raise the debt limit, default will be sooner rather latter. I prefer latter.

The only reason investors buy treasury bills is for safety of principal and interest yet looking at treasury bill yields, investors seem to be a lot less concerned about this than the politicians. I think that should tell us something.

I strongly disagree with this post. A debt default is very serious. Investors are not taking the possibility of it seriously because they believe the GOP are bluffing, and will approve a debt cieling deal eventually. Investors would take the possibility far more seriously if they believed the US Congress would willingly take such a reckless action.

I mean, there's all kinds of evidence that investors WOULD take an actual default scenario very seriously.

S&P would cut US to D on default, Moody's to Aa

“If any government doesn’t pay its debt on time, the rating of that government goes to D,” Chambers said today in an interview with Erik Schatzker on Bloomberg Television’s “Inside Track”. “Having said that, we think the government will raise the debt ceiling. They’ve raised it 78 times more or less since 1960, often at the last moment, and we think that will be the case this time.”

Oh, I agree default is serious. On CNBC there was a discussion about the markets and their reaction or lac of it. Most of the panel agreed that investors believed there would be a compromise reached because the alternative was unthinkable. One of the panel, I don't remember his name had some very interesting comments. He said, no one is really concerned about the Aug 2nd deadline because nothing will happen until Aug 15th. He predicated that starting about Aug 2nd, if no agreement has been reached both the bond and stock market will start moving down sharply.

The panel seem to agree that if the government would default, that interest rates on US debt would rise about 2 basis points possibly more which would increase the interest rates of all lending.

The US government now holds almost 600 billion dollars in debt, mostly mortgages and student loans. The government should be making plans to liquidate these holding if needed. They would be selling into a very weak market but it would be better than default

 

[BolshevikHunter]

If we don't raise the debt limit, default will be sooner rather latter. I prefer latter.

The only reason investors buy treasury bills is for safety of principal and interest yet looking at treasury bill yields, investors seem to be a lot less concerned about this than the politicians. I think that should tell us something.

I strongly disagree with this post. A debt default is very serious. Investors are not taking the possibility of it seriously because they believe the GOP are bluffing, and will approve a debt cieling deal eventually. Investors would take the possibility far more seriously if they believed the US Congress would willingly take such a reckless action.

I mean, there's all kinds of evidence that investors WOULD take an actual default scenario very seriously.

S&P would cut US to D on default, Moody's to Aa

“If any government doesn’t pay its debt on time, the rating of that government goes to D,” Chambers said today in an interview with Erik Schatzker on Bloomberg Television’s “Inside Track”. “Having said that, we think the government will raise the debt ceiling. They’ve raised it 78 times more or less since 1960, often at the last moment, and we think that will be the case this time.”

Oh, I agree default is serious. On CNBC there was a discussion about the markets and their reaction or lac of it. Most of the panel agreed that investors believed there would be a compromise reached because the alternative was unthinkable. One of the panel, I don't remember his name had some very interesting comments. He said, no one is really concerned about the Aug 2nd deadline because nothing will happen until Aug 15th. He predicated that starting about Aug 2nd, if no agreement has been reached both the bond and stock market will start moving down sharply.

The panel seem to agree that if the government would default, that interest rates on US debt would rise about 2 basis points possibly more which would increase the interest rates of all lending.

The US government now holds almost 600 billion dollars in debt, mostly mortgages and student loans. The government should be making plans to liquidate these holding if needed. They would be selling into a very weak market but it would be better than default

Flop, I respect and understand what you just layed out. However, We all know how these issues are worked out right? = WAR. Just look at all the historical evidence. Just saying bro. ~BH

 

[akreberK]

Hoping....