Chinese rating agency strips Western nations AAA status

This is a shot across the bow of western nations and its allies. Germany being the only exception. Curiously, India isn't mentioned.

Telegraph UK

The US falls to AA, while Britain and France slither down to AA-. Belgium, Spain, Italy are ranked at A- along with Malaysia.
Meanwhile, China rises to AA+ with Germany, the Netherlands and Canada, reflecting its €2.4 trillion (£2 trillion) reserves and a blistering growth rate of 8pc to 10pc a year.

"The reason for the global financial crisis and debt crisis in Europe is that the current international credit rating system does not correctly reveal the debtor's repayment ability," said Guan Jianzhong, Dagong's chairman.

Just wow

I wonder how the Obama admin is going to respond to this. It's kind of funny however. The West likes to beat people over the head simply because we are a "industrialized" society and yet all these industries have made a small portion richer while the lower class folks still struggle, it's just like old times!

I think this quote says it the best from the article

Dominique Strauss-Kahn, chief of the International Monetary Fund, agreed on Monday that the rising East is a transforming global force. "Asia's time has come," he said.

Since China is holding billions of dollars in US debt i would say so. They have been going on a buying spree! Looks like the US will have to share the super power status soon. My question becomes how will the rest of the west react.

Fight the power China!

The problem is that imo that we have just begun to be down graded. TPTB will have a hard time concealing the fact that we can no longer afford the high interest rates that are to follow. It's all down hill from here!!

this pisses me off to no end.

pick up anything made today and it has a " made in china" label.

obama is to blame somewhat but so is:

liberals
taxes
unions
regulations

the outsourcing of america and thats why.

china owns trillions of us debt and we are working for china now-and hey guess what noone gives a crap.

well almost noone i do.

it is a clear and present danger to the national security to this country because of the china issue and the debt issue.

and this is the liberal agenda- break this country-destroy this country

because they think we have to much???????? do we? i think not.

all in the name of social and economic justice!


wake up america!
wake up to the amazing birthright you were given by our ancestors
- the birthright our corrupt politicans are pissing away.

Folks. Downgrading will matter nothing to the leadership. They have China surrounded militarily and while they have us economically on the grounds of our debt in fiat currency, it is like you beating up your little brother but one time he gets a lucky punch and claims a moral victory. China is like the little brother. The US is the sole Super Power in the world. That power isn't going to go quietly into the night. Those enjoying the luxuries of Superpower status will hang onto it until all avenues have been exploited.

Just human nature. A look at gang warfare in LA will show the same results. So long as there is benefit to the leaders there is a reason to war.

Not trying to be a warmonger or fear monger. Just a realist that has had a few bloody noses in the past.

Sweet, Canada got +AA!

Second line .