Some headlines grab your attention while most make you yawn. I know when I saw this headline, my jaw dropped and was shocked that it did not move the markets. I think soon enough it will, but investors are still in bullish mode due to the Fed providing nice swimming water with their ocean of money. Soon enough, I think more traders will move this news with more caution and selling. The headline is “China’s Dagong Downgrades US Sovereign Credit Rating.”
Sign of the TimesThe U.S. has always been the envy of the world when it comes to financial power and status. Clearly that has been changing as the dollar has been destroyed and our debt has grown to ridiculous levels. Now Dagong Global Credit Co. Ltd. might not be a household name, but something like this happening in the past would border on blasphemy. Soon this could be par for the course.
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