US will eventually lose AAA credit rating, top investor says
OPS_admin | May 22, 2009 | Comments 0
US will eventually lose AAA credit rating, top investor says
The co-chief investment officer of the world’s largest bond fund said the US will eventually lose its top AAA credit rating the same day that Standard and Poor’s rating service downgraded Britain’s national debt from stable to negative.
The US will likely be downgraded in “at least three to four years, if that, but the market will recognize the problems before the rating services – just like it did today,” said Bill Gross of Pacific Investment Management Co.
Thursday’s market declines, Gross said, reflect the fact that investors fear the United States is “going the way of the UK – losing AAA rating which affects all financial assets and the dollar.”
Britain’s debt is approaching 100 percent of its gross domestic product. Standard and Poor’s says it “faces a one in three chance of a ratings cut.”
via Raw Story » US will eventually lose AAA credit rating, top investor says.
Filed Under: Economy - Labor
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The oligarchs openly talking about a coup d'état in America?
Multi-millionaire lobbyist Grover Norquist is calling for the impeachment of President Obama. In an interview with the right-wing National Journal - Norquist warned that if President Obama wins re-election and decides to let the Bush tax cuts for the top 2% expire at the end of the year - then Republicans will "have enough votes in the Senate in 2014 to impeach [him]."What does that mean? It means that the super rich in America - and their political operatives like Norquist in Washington, DC - have now compared a tiny tax increase on the wealthy to high crimes and treason - the only Constitutional basis Congress can use to impeach a President. It sounds like the oligarchs are now openly talking about a coup d'état in America.-Thom(Do you think will try it? Tell us here.) -
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