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
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1 comment:
"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.
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