Very misleading title! This isn't Reuters. It's an opinion of a technical analyst dude by the name of Prechter. Pls be careful with this...
How can a country whose banks literally blew out all of their consumers deposits by "stupid" leverage have or maintain a AAA rating....? Oh....you mean the same folks that rated the" CCC paper AAA" for commission payments....? These people just do not stop .... Do they ?
Sorry...I just love striking fear into the hearts of traders so i couldnt resist The actual article said "US LIKELY to lose AAA rating." But I thought its more eye catching if i took out the "likely" part.
Yup... same guy... The reason Prechter was so 'unGodly' wrong for so long was that the FED has never stopped bailing out the financial markets and the economy since the S&L crisis in the late 80's to early nineties... on to LCTM, Dot Com... etc... etc... they kept moving the ultimate disaster down the road and down the road... well here we are... and there is no more road... When you OWN the money printing press and you also have world's reserve currency status (the $) you can keep a losing game going a long time... Even now look at the extraordinary efforts going into keeping the American Ponzi scheme going... I mean the American Economy going... It is not going to work this time.. the world is finally going to call America as she goes 'ALL IN'... and loses... thank you and good nite...
This is ridiculous. Is it not suspicious why the US government hasn't made a real investigation of the credit rating agencies and their outright AAA fraud dealing with subprime morgatages? It is a symbiotic relationship, if one organism kills the other then they both will perish. Remember how much power the federal government has collected within the last few years.