Chinese agency downgrades U.S. credit rating

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Beijing (CNN) -- Although the United States narrowly avoided an unprecedented default following congressional approval of a last-minute compromise plan to raise the debt ceiling, China's leading credit rating agency Wednesday downgraded U.S. sovereign debt after putting it on negative watch last month.

The Dagong Global Credit Rating Company, which lowered the United States to A+ last November after the U.S. Federal Reserve decided to continue loosening its monetary policy, announced a further downgrade to A, indicating heightened doubts over Washington's long-term ability to repay its debts.

Source: CNN

My friends, before it's too late, get out of those worthless CD's, money market, and savings accounts. They're worthless.
 
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seems like a ploy by the chinese to get the ball rolling to make sure their currency replaces ours as the currency of the financial world.
 

b smooth 202

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Originally Posted by runzombierun

seems like a ploy by the chinese to get the ball rolling to make sure their currency replaces ours as the currency of the financial world.
there is no Chinese ploy son....China's system is a real system...our system is a LIE. 
 
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Originally Posted by runzombierun

seems like a ploy by the chinese to get the ball rolling to make sure their currency replaces ours as the currency of the financial world.


They own almost 1.2 trillion dollars in U.S. debt, just maybe the system needs an overhaul.
 
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Originally Posted by B Smooth 202

Originally Posted by runzombierun

seems like a ploy by the chinese to get the ball rolling to make sure their currency replaces ours as the currency of the financial world.
there is no Chinese ploy son....China's system is a real system...our system is a LIE. 

China's system isn't a real system. There system is one big bubble.
 
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you mean the system with no EPA standards, pays next to nothing to its workers, rapes their resources and cares nothing about human rights. that system? I guess if we didnt care about that sort of thing we could still be raking in the money too.

And one would assume that china would like to get paid back at some point so what would be the reasoning to lower our credit rating. Oh i dont know

 

b smooth 202

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Originally Posted by rashi

Originally Posted by B Smooth 202

Originally Posted by runzombierun

seems like a ploy by the chinese to get the ball rolling to make sure their currency replaces ours as the currency of the financial world.
there is no Chinese ploy son....China's system is a real system...our system is a LIE. 

China's system isn't a real system. There system is one big bubble.
but is that because of their relationship to the US?


you mean the system with no EPA standards, pays next to nothing to its workers, rapes their resources and cares nothing about human rights. that system? I guess if we didnt care about that sort of thing we could still be raking in the money too.

America...home of the freely held contradiction. What kind of exclamations can you make on the human rights issues of another country as an American?
 
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Originally Posted by B Smooth 202

Originally Posted by rashi

Originally Posted by B Smooth 202

there is no Chinese ploy son....China's system is a real system...our system is a LIE. 

China's system isn't a real system. There system is one big bubble.
but is that because of their relationship to the US?
No, it's because of Fractional Reserve Banking.
 
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Originally Posted by runzombierun

you mean the system with no EPA standards, pays next to nothing to its workers, rapes their resources and cares nothing about human rights. that system? I guess if we didnt care about that sort of thing we could still be raking in the money too.

And one would assume that china would like to get paid back at some point so what would be the reasoning to lower our credit rating. Oh i dont know

They Do all of that and its has gained them from a second world nation to a world super power in a matter of 2 decades. Their country is economically  powerful so morals or not it seems to be working for them.
 
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by exploiting their people and resources their government have become a world super power. But their country and the standard of living is closer to a third world country.
 
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Originally Posted by runzombierun

by exploiting their people and resources their government have become a world super power. But their country and the standard of living is closer to a third world country.
For most of the population YES but for those who can avoid working in factories of miminal labor they live just like they would in america. 
 
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Originally Posted by milestailsprowe

Originally Posted by runzombierun

by exploiting their people and resources their government have become a world super power. But their country and the standard of living is closer to a third world country.
For most of the population YES but for those who can avoid working in factories of miminal labor they live just like they would in america. 
Yep, they are very high on the list of global millionaires.

Why is everyone talking about China as if they have no right to dog the U.S. credit rating? Since when should we defend a Moody's or Standard & Poor AAA rating?
 
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Moody's and S&P.



They are paid schills for the IMF and World Bank. Don't believe a word of theirs.
 
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Originally Posted by rashi

Moody's and S&P.



They are paid schills for the IMF and World Bank. Don't believe a word of theirs.


It's sad that so many people don't even realize they were giving golden ratings before the mortgage bubble burst. Hmm...
 
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Originally Posted by finnns2003



Source: CNN

My friends, before it's too late, get out of those worthless CD's, money market, and savings accounts. They're worthless.
More info on the CD's?  I have an investment CD, idk what it is or if I can even take money from it.  Any help?
...
 
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^ CD rates are basically lighting your money on fire. Not keeping up with inflation. Would rather hold gold or another alternative.


Sad that no one is paying attention to what's going on.
 
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Originally Posted by finnns2003

^ CD rates are basically lighting your money on fire. Not keeping up with inflation. Would rather hold gold or another alternative.


Sad that no one is paying attention to what's going on.
What do you mean, bro? They raised the debt ceiling, crisis is over. We're saved.




























































 
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People pay attention. But a lot don't have the financial stability to make major moves at the moment.

I'm definitely one of those folks, but I'm doing what I can one day at a time.
 
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Originally Posted by finnns2003



Beijing (CNN) -- Although the United States narrowly avoided an unprecedented default following congressional approval of a last-minute compromise plan to raise the debt ceiling, China's leading credit rating agency Wednesday downgraded U.S. sovereign debt after putting it on negative watch last month.

The Dagong Global Credit Rating Company, which lowered the United States to A+ last November after the U.S. Federal Reserve decided to continue loosening its monetary policy, announced a further downgrade to A, indicating heightened doubts over Washington's long-term ability to repay its debts.
Source: CNN

My friends, before it's too late, get out of those worthless CD's, money market, and savings accounts. They're worthless.


Ok so where do you suggest someone should place their money?

Serious question. I am ready to be schooled.
 
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Originally Posted by MaxElite

Originally Posted by finnns2003



Beijing (CNN) -- Although the United States narrowly avoided an unprecedented default following congressional approval of a last-minute compromise plan to raise the debt ceiling, China's leading credit rating agency Wednesday downgraded U.S. sovereign debt after putting it on negative watch last month.

The Dagong Global Credit Rating Company, which lowered the United States to A+ last November after the U.S. Federal Reserve decided to continue loosening its monetary policy, announced a further downgrade to A, indicating heightened doubts over Washington's long-term ability to repay its debts.
Source: CNN

My friends, before it's too late, get out of those worthless CD's, money market, and savings accounts. They're worthless.
Ok so where do you suggest someone should place their money?

Serious question. I am ready to be schooled.



Metals: Gold and Silver.
Investments (depending on the company: IRA and Roth IRA

There are a couple of threads on NT Archived with that stuff just search it.
 
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Originally Posted by VeryAnalytical85

Originally Posted by MaxElite

Originally Posted by finnns2003



Source: CNN

My friends, before it's too late, get out of those worthless CD's, money market, and savings accounts. They're worthless.
Ok so where do you suggest someone should place their money?

Serious question. I am ready to be schooled.
Metals: Gold and Silver.
Investments (depending on the company: IRA and Roth IRA

There are a couple of threads on NT Archived with that stuff just search it.
stupid question:

are you talking physical stockpiling of metals?  the purpose of my savings is to be liquid in the event of an emergency.  not that metals arent liquid, but there are some steps required to turn that metal into currency i can use to pay my cable bill.  im pretty sure time warner wont take a bar of silver as payment.  also, i dont know if i would be comfortable storing that much precious metals in my house.  advice?

  
 
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Originally Posted by Mojodmonky1

Originally Posted by VeryAnalytical85

Originally Posted by MaxElite


Ok so where do you suggest someone should place their money?

Serious question. I am ready to be schooled.
Metals: Gold and Silver.
Investments (depending on the company: IRA and Roth IRA

There are a couple of threads on NT Archived with that stuff just search it.
stupid question:

are you talking physical stockpiling of metals?  the purpose of my savings is to be liquid in the event of an emergency.  not that metals arent liquid, but there are some steps required to turn that metal into currency i can use to pay my cable bill.  im pretty sure time warner wont take a bar of silver as payment.  also, i dont know if i would be comfortable storing that much precious metals in my house.  advice?

  
Physical stockpiling is always nice, but you can also invest in metals by funds. That's all I'll say...
 
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