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Portugal's Rating Cut To 'Junk' By China's Dagong
Arguably the least biased (or perhaps least cognitively dissonant) of the major ratings agencies, China's Dagong has just moved Portugal's rating to junk (BB+) from comfortably investment grade (BBB+) - a 3 notch drop. The rating agency also left the peripheral nation on negative watch. This action follows Monday's Greek downgrade from C to CCC. Is this a ploy for better entry levels when they save the world with their EFSF-buying bazooka? Or more likely a more honest reflection of a debt-laden, slow-growing, austerity-facing nation burdened with inadequate leadership and an inability to control its own fate?
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Fuckin AAA!!
PIIGS.... Notice how the two bookends, P and S are just starting to show up.
In the newsfeed means it's time to hear some NOISE from them.
IIG are of course nicely sewed up. But P and S, riot ready neighbours.
Going to get Verrrrry interesting int he peri-phery now. Remember the axis of Evildoing?
Once you've got the whole place soaked in gas, a match here, a spark there and pretty soon the whole place is in flames and ready for a rebuild.
ORI
aadividya-second-trailer/
'The rating agency also left the peripheral nation on negative watch.'
what, worse than junk then? That's pretty bad...
Dagong is not a fucking major ratings agency
I cut China to junk with its 65 million new empty vacant pieces of real estate property.
You can't make this shit up folks.
You mean piece of shit real estate China owns in US soil?
UST = Fannie Freddie toxic assets
China loves to copy....da'gong are copying US credit agencies by making shit up.
Da gong to da gone!
China is a follower, not a leader. They do what lemmings do.
In other news;
Former Reagan Official calls GOP Candidates "An Amazing Collection of Stupidity", except Ron Paulhttp://www.dailypaul.com/188900/former-reagan-official-says-only-ron-paul-fit-to-be-president
http://www.youtube.com/watch?feature=player_embedded&v=O3Y73ZRIlXA#!
Ah, well, that makes all the difference then...
Indeed it is ORI, but the weakest link does start with G and it's not Greece.
Bond vigilantes already aiming:
http://www.irishtimes.com/newspaper/finance/2011/1124/1224308055838.html
Ahhhah! That justice woudl be far too poetic for it to happen.
Das Kollapse? Not likely.
ORI
Would you say re-capitalizing banks is sort of like the opposite of mergers and acquisitions?
FWIW, I believe that Germany is the banksters' target, not their base. They want Germany's gold and they'll use bailouts of the compliant catholics (FIIPS) and patsy Greeks to get it.
Uhhhhh-huh! Interesting twist i-dog.
Hard to tell, when a bankster has you in his grip, whether it's a love grip or a death grip.
Same end result anyways.
Knife in your back or wallet gone forever from your backpocket.
ORI
possession is nine tenths of the law. where is the gold?
Portugal. GMAFB. Da-dong cuts rating to Junk from Shitty and before that it was Crappy. BFD.
Isn't Germanys Gold already in American posession?
If I was Merkal i'd 'Do a Venezuala' and ask for it to be shipped to me and out of the mitts of the NY area code (a well known global Gangster financial criminals black spot)
my guess is this will not happen. a country like germany is now, totally zog, totally controlled.... doing such a thing would be unheard of in this day and age. if merkel was to push this, she would suddenly have more helicopter troubles (while in flight)....last time was a warning..........next time........there'll be no next time.
http://www.youtube.com/watch?v=97DGOhiFq5Q.
da "gong" has been rung!
Kung POW!
I've seen all this happen before. It usually ended badly.
get it on...bang da gong...bitchez!
At the end of the day, China will own the world. And they will win the game of Monopoly. But what is the prize?
septic planet. winning!!
The ability to exploit Mars.
And all the Skittles in the bowl.
Dagong? Dawhocares?
Portugar, Itary, Irerand - who'rr be downgraded next?
Dagong pleeaaase rate me, too! I like it the hard way... the others are just sissies...
What's Dagong's rating on USTs?
I know right? This seems to be the game. Everyone gets downgraded but the fleeting US economic power. Problem is, any downgrade directed towards Washington will probably be met with force.
agreed...why else the rapid response from s&p after the "super committee" debacle? the ratings agencies are under intense political pressure i think...phone calls were made
Da-dong can rate this right here.
DOWNGRADEZ BITCHEZ!
Dagong on US - Nov 11, 2010
The total output value of the U.S. financial services industry is composed of two major parts: one is the transferred production value, most of which comes from value distribution of participating in international production. Another part is the inflated value originated from credit innovation, which belongs to bubble value. In addition, due to the high economic financialization, more than half of the profits in the real economy come from the returns of financial activities. If we exclude the factor of virtual economy, the U.S. actual GDP is about 5 trillion U.S. dollars in 2009, per capita GDP about $ 15,000. Meanwhile, the total domestic consumption was 10.0 trillion U.S. dollars and government expenditure was 4.5 trillion U.S. dollars.
Read more: http://articles.businessinsider.com/2010-11-11/markets/30096474_1_lower-credit-rating-aaa-ratings-ratings-agency#ixzz1eb58G5e6
Aug 4 2011
Dagong cuts US sovereign rating one level to A, on par with Russia and South AfricaNov 12, 2011
China’s Dagong May Cut U.S. Credit Rating Again If It Adopts QE3 ProgramNot to worry, ben is out to save the world.
Too late, the UN already owns most of US land, including the Grand Canyon. Thanks to Bill "hickboy" Clinton.
http://www.prisonplanet.com/un-sign-at-the-grand-canyon.html
Why no Occupy Grand Canyon?
http://joyannaadams.wordpress.com/2011/11/20/american-parks-used-as-coll...
portugal just got the bill from NATO for their fair share of protecting innocent civilians in libya and the whole nation fainted!
Greece gets a C rating??? WTF - I can not see how they are getting this gift. Greece deserves the same grade they give to meat derived mostly from circus animals, for those that do not watch The Simpsons, that grade is F. Now that other gift to Portugal is just an attempt to tie a pork chop around Portugal's neck to try to get a friendly dog to play with it.
sic transit mundus
USD selling pressure continues and the prospect of an equity xmas rally and EURUSD bullish spike returns.
http://stockmarket618.wordpress.com
Slight revision: Greek downgrade to C from CCC.
See http://en.wikipedia.org/wiki/Bond_credit_rating
When do they downgrade America again?
when Tiny Tim stops ranting and gets off the phone
Rating services are Bogus. Who are you to rate the cred. Our fiat money is GOOD on redemption for any WORLDWIDE transaction.
Fitch now too
Fitch cuts Portugal credit rating to junk status
Fitch lowers Asturias region in Spain
Yeah Fitch too. But who gives a shit about Portugal? France baby France.
I don´t think ratings mean anything anymore...who would be buying EU debt right now...EXCEPT..the Central Bankers to save themselves....an individual will not..and investment firm will not...a hedge fund will not...they all know its in a death spiral...so A-F..big deal...its all ECB and their buddy bankers trying to save thier face....
Thousands of unemployed fill the downtown areas my cousin said. he just got back from Europe....too-many-to count immigrants...all unemployed....he said it was scary and the hoteliers told him NOT to go out at night since crime has skyrocketed....
Is this our future?
Arguably the least biased (or perhaps least cognitively dissonant) of the major ratings agencies,
Hah!
Holy fuck, Tyler. When you go stupid, you really go stupid.
Chinese grading agencies, eh? That's cool. S&P, Fitch and Moody's can go fuck themselves now.