Now, as anticipated, a debt ceiling agreement has been reached and the wait is on to see whether the major rating agencies — Standard & Poor’s, Moody’s Investors Service, and Fitch Ratings — will reaffirm or downgrade the US’ triple-A status.
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Rating Agencies Capitalized on the Debt Ceiling Fiasco
Filed Under: Gold Fundamentals, Stock Market Commentary, U.S. Dollar Tagged With: AAA, CDO, CDS, china, credit, credit ratings agencies, Debt and Deficit, Dollar Decline, DR EXTRA!, Egan-Jones, enron, EU, Europe, Fitch, Fitch Ratings, Legislation, macroeconomics, Markets, Moody's, Moody’s Investors Service, NRSRO, Politics, Portugal, President Obama, Republicans, Rocky Vega, S&P, Standard & Poor’s, Standard & Poor’s Ratings Service, subprime, WorldCom
Dagong Strikes Again: Cuts UK Debt Rating Once More
Beijing-based Dagong Credit Rating Co. is China’s leading credit rating agency and, despite the limited international influence of its ratings, it keeps pumping out sovereign debt downgrades for the industrialized West.
The latest nation up… or down as the case may be… is the UK. It was already cut from its triple-A standing — as indicated by ratings from US agencies — to AA- in Dagong’s first headline-inducing ratings release. Recently, the UK has again been downgraded, this time to A+ with a negative outlook, due to its deteriorating solvency.
[Read more...]Filed Under: Gold Fundamentals, Stock Market Commentary, U.S. Dollar Tagged With: Beijing, Belgium, Chile, china, Dagong Credit Rating Co, Debt and Deficit, DR EXTRA!, emerging markets, European Union, government finances, Greece, Ireland, Markets, NRSRO, Portugal, Rocky Vega, sovereign debt, Spain, UK, US
‘Angst’ Shouldn’t Even Begin to Describe the US’ Current Economic Sentiment (Part 2 of 2)
This past week, an article written for The Economist, entitled Angst in the United States: What’s wrong with America’s economy?, suggested that Americans are being far too pessimistic, and that there’s reason to believe in a “rosier outlook for America’s economy.” On most of the points addressed in the article, I’d beg to differ. The following is part two of two-part explanation as to why.
[Read more...]Filed Under: Gold Fundamentals, Stock Market Commentary, U.S. Dollar Tagged With: Age of America, angst, bailout, Banking, Beijing, brain drain, Britain, business cluster, china, Debt and Deficit, Dollar Decline, DR EXTRA!, economics, emerging markets, food prices, Hong Kong, immigrants, Inflation, Ivy League, Kowloon peninsula, macroeconomics, Markets, NRSRO, Opium Wars, pessimism, Politics, publicly-traded, quantitative easing, Rocky Vega, Silicon Valley, technology cluster, The American Dream, the Land of Opportunity, unemployment, US economic view
China’s Dagong Credit Rating Agency Steamed Over NRSRO Delay
What you already know about China-based Dagong Credit Rating is that it's caused quite the kerfuffle over sovereign debt ratings by ranking China higher than the US and other developed countries, like the UK and Japan, based on a formula assigning more weight to the fiscal health and GDP growth of countries.
[Read more...]Filed Under: Gold Fundamentals, Stock Market Commentary, U.S. Dollar Tagged With: Banking, china, credit ratings, Dagong, Debt and Deficit, DR EXTRA!, emerging markets, Featured, Markets, Nationally Recognized Statistical Rating Organization, NRSRO, Rocky Vega, SEC, US
US Debt Rating Downgraded (Sort Of)
Breaking news: As we've been forecasting for some time, the US has been stripped of its AAA credit rating. So have Britain, France and Germany…
The great reckoning has begun… Let your crash flag fly!
Wait a second…this one's a fake.
Like an iPod nano purchased at the Pearl Market in Beijing, this credit rating downgrade will stop working before you even get it home.
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S&P Dithers While Dagong Global Cuts US Credit Rating, Again
While two of the US’ most important credit rating agencies — Moody’s and Fitch — have maintained the US’ triple-A rating, Standard & Poor’s has yet to announce where it stands. That’s after already stating a 50 percent likelihood of downgrade if Congress failed to cut spending by at least $4 trillion over 10 years.
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