Monday, April 18, 2011

If You Want To Know the Economic Truth About America, You Must Read Things That Are Not American

Right after Standard and Poor's issued the debt downgrade on the U.S. today...spin and damage control went on high alert. Moody's immediately was contacted and they gave a status quo- all is well report. Of course.

I note that PIMCO's Bill Gross just coincidentally, liquidated all of the US Treasury Debt  in his bond fund just one month ago. 

Shortly after the debt downgrade- I was watching the non tax paying GE subsidiary CNBC. On Fast Money they had some troll stating all is well...and then he said, "Who died and made Standard and Poor's- God?" Apparently- the troll's opinion is the only one that matters.

I've known about United States' debt quality for months. How? I follow Dagong. They are a Chinese debt rating agency that is not co-opted by American greed and politics. If you want to know how bad our credit quality is...read this link. http://dailyreckoning.com/dagong-us-solvency-on-the-brink-of-collapse/

More here from ZeroHedge http://www.zerohedge.com/article/guest-post-worst-advice-i%E2%80%99ve-seen-years

1 comment:

conservativesonfire said...

"Who died and made Standard and Poor's- God?"

That troll is a fool. Nobody died. Doesn't he know that Goldmdn Sachs bought that position for S&P several years ago.