China's Dagong Global Credit Rating Co. Ltd. today cut the sovereign credit rating of the United States from A+ to A with a negative outlook, explaining that the country’s new debt limit will not change the fact that growth in national debt has surpassed that of both the overall economy and the Federal Government's fiscal revenue, which has led to a decline in its debt-paying ability.
One concludes that financial analysts would have to crank in a long term systemic devaluation in the US Dollar over the time of this still-neglected problem, so it’s difficult to rationalize why our own rating agencies haven’t done the same.
Perhaps Standard & Poor's and them are no longer relevant in the Post Financial Apocalyptic Era they had such an important role in creating.
