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German Rating Agency Feri Downgrades US Government Bonds: AAA to AA!
The first Western downgrade of US government bonds is a fact! The German credit rating agency Feri lowered its rating on US debt by a full notch, from AAA to AA.
Here is the German press release:
Feri Downgrades US Gov Debt AAA to AA
Here's the english translation:
Homburg, 8 June 2011 - The Bad Homburg Feri EuroRating & Research AG downgraded the first credit rating agency's credit rating for the United States from AAA to AA. Feri analysts justify the downgrade by the continuing deterioration of the creditworthiness of the country due to high public debt, inadequate fiscal measures, and weaker growth prospects.
"The U.S. government has fought the effects of the financial market crisis primarily by an increase in government debt. We do not see that there is sufficient attention being paid to other measures, "said Dr. Tobias Schmidt, CEO of Feri Rating & Research AG. "Our rating system shows a deterioration in economic health, so the downgrading of the credit ratings of U.S. is warranted."
For the third consecutive year the deficit of the United States is in double digit percentages relative to gross domestic product (GDP). "Deficits of such magnitude are not a sustainable fiscal policy. We would reconsider the rating when the U.S. government creates a long-term sustainable budget," said Schmidt.
Feri Rating is listed on the Federal Financial Supervisory Authority (BaFin) as an EU credit rating agency approved and created with more than 20 years experience in sovereign ratings. Every month, the Feri analysts evaluate sovereign credit ratings from the perspective of a foreign investor based on the ability and willingness of countries to repay their debts. The credit ratings have eleven possible gradations between "AAA" (best credit) and "Default".
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Have they done a piece on Big Merka or small Heidi Klum/Claudia Schiffer types?
#ucking germans
what next ? buy oil/gas from RUSSIA using euro-rubles
bommb them
axl
I have to ask, why get upset with the Germans or any credit rating agency for that matter? Why not get angry with U.S. politicians? It's the U.S. politicians (republicans and democrats) that caused the downgrade.
"The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;
To borrow money on the credit of the United States;"
Just wait until the nukes start going off in Amerikkka and then we'll see how eager they are for death.
"I wish I had me one of them Doomsday Machines..."
-- General Buck Turgidson
"Dr. Strangelove"
OK, if you really must, but not the UK please. We have a "special relationship" (and Trident). Please ensure that the wind is not blowing North when you nuke them. :D
WWIII is going to be such a hoot!
Not sure your Tridents will work; when was the last time you tested them? Oh wait, did you mean trident the gum?
bomb the fuckers..
alx
...with or without asking congress?
right back at ya! :)
European capital fighting American capital? Wait, lemme get my popcorn, that could be very entertaining.
The slow-motion train wreck continues---
When considered from the perspective of economic/political warfare, how now does the empire strike back? Ideas?
This is the first hopefully of many countries to tell the truth and say that the emperor has no clothes. Congress will keep doing irresponsible stuff as long as there are no real consequences...much like your unruly teenagers.
Everyone who buys gold and silver is doing a defacto downgrading of the credit rating of the USA...and maybe even your own country if not the USA.
Buying of physical metals goes back to the early 1930's when the United States went into depression and a few ounces bought quite a bit.
If the United States does go down, it will be Congress's fault starting with the 111th last year. They have 12 budgets to pass each fiscal year and failed. Failed I tell you.
When the US gets blown up and no one wants dollars. The silver and gold will be a future.
I love the USA but I will be damned if I sit around with the sheep going baaaa while the Nation burns.
The only effective weapon they have is one they can't or won't use.. The budget axe.