Just how really informed are you guys? Copy/paste news reports just shows how you can read things. Read and not grasp.
What's wrong with debt restructuring talks? Are those the only talks in the world going on right now? What do you call Obama's Asian tour? Buy our debt please so we can spend our selves out of debt?
Who are the rating agencies again? The rating agencies who gave us the AAA ratings that preceded the recent financial meltdown.
The ratings that preceded Enron, Worldcom and the dot com.
How much?59-billion....... a drop in the ocean compared to the trillions borrowed, yes borrowed by the US. The UK could not borrow so they came up with a money printing solution instead. Ingenious.But restructuring debt is now called a default. And who's got the right credibility to make that call?
But as always, informed journalism will prevail.
No mention that no one is buying US debt anymore, unemployment topping 10%, Obama begging Asian support for US debt. But that is not getting enough attention as it should. It is no news that the US can't borrow itself out of debt, but Bloomberg will really shed true light on that reality. Even Sri Lanka is buying gold instead of the worthless greenback. The sovereign fund behind Dubai, what is their capitalisation again, and wouldn't the US love some of it? Just get Bloomberg on the story to scare scare everyone and in the process halve ones assets.
If Bloomberg were truly independent they can focus on what really matters, reporting on just how bad the US economy really is and its ramifications that still lie ahead.Argentina had rocks not a sovereign wealth fund behind them.