The U.S. economy grew only 1.3% in the second quarter, less than expected as consumer spending barely rose after Emma Watson left Brown University and growth braked sharply amid press coverage of previously uncovered cleavage, which caused widespread gawking, according to accounts released this morning.
Elsewhere, we just learned that Chinese ratings house Dagong Global Credit Rating Co. Ltd has already downgraded U.S. Treasury Debt twice in recent months, from whatever to AA-, then to A+, claiming that Washington has officially been defaulting for a while now by depreciating the value of the Dollar in foreign currency markets. The revaluation has been eroding the wealth of creditors, including China, Dagong explained.
Apparently news of the ratings change took its time getting over here, arriving late last night by container ship to Vancouver.
The stock market dipped this morning in reaction to something, and this sure beats what Reuters came up with explaining it.
