Rating Agency Wars 2: The New Evil Empire Strikes Back - Dagong Says Likely To Downgrade US Even If Debt Limit Raised - By Tyler Durden (14/7/11) PDF Print E-mail
Tyler Durden   
Thursday, 14 July 2011 09:51

Zero Hedge

When on July 4 we reported the patriotic decision by Moody's to suddenly discover that up to 10% of China's GDP is concentrated in previously undisclosed bad debt, we suggest that "Dagong downgrades the US to junk status in 5, 4, 3..." Well, it's one and a half. China Daily has just reported that according to the notorious abovementioned Dagong rating agency, "The US' sovereign credit rating is likely to be downgraded regardless of whether the US Congress reaches an agreement on raising its statutory debt limit.“ If the debt limit is raised and the public debt continues to grow, it will further damage the US' debt-paying ability, which is a key factor in Dagong's evaluation, and we will consider lowering its ratings accordingly," said Guan Jianzhong, chairman and CEO of Dagong. "If the raised limit fails to pass and the US faces default, the rating will be immediately and substantially downgraded," he said. According to Guan, the downgrading is really just "a matter of time and extent". And if Europe is suffering now, after Moody's has discovered religion and is slapping ratings downgrades at each and every PIIG, just wait until the global Nash equilibrium collapse in the rating agency Ponzi preservation prerogative goes trans-Pacific. Because following the imminent Dagong downgrade, Moody's and S&P will retaliate yet again, this time likely throwing Japan into the fray yet again, until such time as virtually the entire overleveraged world declares any and all rating agency employees persona non-grata.



Add this page to your favorite Social Bookmarking websites
Reddit! Del.icio.us! JoomlaVote! Google! Live! Facebook! StumbleUpon! Yahoo! Free social bookmarking plugins and extensions for Joomla! websites!
Read more...
 
Europe’s Debt Problems Is Nothing Compared To Toilet Paper USA - The Chart Below Says It All. All The European Bubbles Combined Is Miniscule When Compared To The US Giant Bubble. Which Will Pop First? - By 5 Minutes Forecast (14/7/11) PDF Print E-mail
5 Minutes Forecast   
Thursday, 14 July 2011 09:48

Download PDF



Add this page to your favorite Social Bookmarking websites
Reddit! Del.icio.us! JoomlaVote! Google! Live! Facebook! StumbleUpon! Yahoo! Free social bookmarking plugins and extensions for Joomla! websites!
 
Hawk Nation: A Guide To The Catastrophic Debt Ceiling Debate - By James K. Galbraith (14/7/11) PDF Print E-mail
James K. Galbraith   
Thursday, 14 July 2011 09:46

Download PDF



Add this page to your favorite Social Bookmarking websites
Reddit! Del.icio.us! JoomlaVote! Google! Live! Facebook! StumbleUpon! Yahoo! Free social bookmarking plugins and extensions for Joomla! websites!
 
Geithner On TV – Keynesian Economics Has Failed - By Bruce Krasting (13/7/11) PDF Print E-mail
Bruce Krasting   
Wednesday, 13 July 2011 09:20

Download PDF



Add this page to your favorite Social Bookmarking websites
Reddit! Del.icio.us! JoomlaVote! Google! Live! Facebook! StumbleUpon! Yahoo! Free social bookmarking plugins and extensions for Joomla! websites!
 
Defaulting On The Fed's Bonds - By Robert Murphy (13/7/11) PDF Print E-mail
Robert Murphy   
Wednesday, 13 July 2011 09:19

Download PDF



Add this page to your favorite Social Bookmarking websites
Reddit! Del.icio.us! JoomlaVote! Google! Live! Facebook! StumbleUpon! Yahoo! Free social bookmarking plugins and extensions for Joomla! websites!
 
<< Start < Prev 371 372 373 374 375 376 377 378 379 380 Next > End >>

Page 374 of 663