US Government Bonds Downgraded
According to an AP story, a Chinese credit rating agency has basically downgraded U.S. debt, as they put the United States 13th on a list of 'creditworthy' nations. This rating isn't even remotely close to where the U.S. credit rating agencies puts U.S. debt. A debt rating war is obviously off to the races here. The headline to the story states... "Chinese credit firm says US worse risk than China"... and the link to the article, posted over at Jesse's Café Américain, is here.

In a similar story, China's leading credit rating agency has stripped America, Britain, Germany and France of their AAA ratings, accusing Anglo-Saxon competitors of ideological bias in favour of the West.... and the link to the story is here.

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