Rising Hegemon
Standard & Poor’s said Japanese Prime Minister Yoshihiko Noda’s administration hasn’t made progress in tackling the public debt burden, an indication it may be preparing to lower the nation’s sovereign grade.
And another:
Portugal suffered a double blow Thursday after Fitch Ratings downgraded its debt to junk
And yet another:
Moody's Investors Services warns it could downgrade the U.S. government's top credit rating if Congress backs off $1.2 trillion US in automatic deficit cuts scheduled over the next decade.
I do believe the world's credit agencies are readying their escape pods and are preparing to escape the gravity of the Earth they've helped create.
[cross-posted at Firedoglake]
5 comments:
They've declared war on the entire world. Once they win, they won't be welcome here.
A great investment opportnity -- get in on the ground floor of real estate futures on Europa.
Lessee, Fitch, Moody's and S&P.
Umm, weren't they the very same ratings shops that created the crash in the first place by giving AAA ratings to trash for cash?
Trash-->Cash-->Crash.
Some things are simpler than they appear. Time for government to cut them out of the bond process entirely.
I have a relative that works for Fidelity. He personally has no idea where your money would be safe, or what to invest in. Too much uncertainty.
So how long do the governments of the world keep bowing to these extortion threats? And when exactly do they start prosecuting these same companies for extortion?
Because at this point that's exactly what they are doing... extortion...
so, they want to take gambling out of the monetary trade system casino?
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