Chinese agency Dagong cuts U.S. sovereign ratings to BBB+ from A-

[demmiblue]

Source: Reuters

BEIJING (Reuters) - China’s Dagong Global Credit Rating Co, one of the country’s most prominent ratings firms, on Tuesday cut the local and foreign currency sovereign ratings of the United States, citing an increasing reliance on debt in the world’s largest economy.

Dagong said in a statement that it cut the sovereign ratings to BBB+ from A- and also placed them on a negative outlook.

The growing reliance on the debt-driven mode of economic development will continue to erode the solvency of the U.S. federal government, the Beijing-based ratings agency said.

In December, U.S. President Donald Trump signed into law a package of tax cuts that will add $1.4 trillion over a decade to the $20 trillion national debt.

Read more: https://www.reuters.com/article/us-usa-ratings-dagong/chinese-agency-dagong-cuts-u-s-sovereign-ratings-to-bbb-from-a-idUSKBN1F50OU?il=0

[Sanity Claws]

1. Shithole country credit rating

[bronxiteforever]

2. Kick and recommend for visibility

[UpInArms]

3. One cannot borrow themselves out of debt

Any fool knows that ... and when you gut your income on top of that .... well

[mahatmakanejeeves]

4. With which other countries do we share that rating? NT

[melm00se]

7. ask and ye shall receive

http://en.dagongcredit.com/index.php?m=content&c=index&a=lists&catid=88

interesting that they differentiate between "America" and "the US".

[Fred Sanders]

5. Trillion dollar annual deficits as far as the eye can see? Why would they do that? Thanks, Trump!

Being the world's #1 reserve currency does not mean you can double shift the printing presses without consequence... Others are watching.

Next up...juiced money supply equal juiced inflation.

[SWBTATTReg]

6. You can thank our GOP senators for this ...

Thanks guys, way to go...