Although we are now downgraded, the U.S. Dollar will continue to be the reserve currency of the world no matter some quants at S&P say. At least in the near term. Like others have pointed out, there simply is no other currency or debt that can compare with the U.S. Dollar regarding financial safety.
Including the U.S., we estimate that these five sovereigns will have net general government debt to GDP ratios this year ranging from 34% (Canada) to 80% (the U.K.), with the U.S. debt burden at 74%. By 2015, we project that their net public debt to GDP ratios will range between 30% (lowest, Canada) and 83% (highest, France), with the U.S. debt burden at 79%.
The reasons outlined should sound familiar to any European government or even the casual U.S. observer: "The downgrades and Negative Outlooks reflect growing risks for Japan’s sovereign credit profile as a result of high and rising public debt ratios," said Andrew Colquhoun, Head of Asia-Pacific Sovereigns.
Obama stresses refi plan won’t ‘solve all problems’ Obama Refi Plan Raises Doubts About Its Effectiveness Watt abused role in pursuing relationship with FHFA staffer: watchdog. obama refi plan raises Doubts About Its Effectiveness By. Donna borak;. macdonald questioned the whole notion of the public sector trying to solve the problem.ADP optimistically predicts flat job growth “Wages are flat. had predicted the creation of about 212,000 jobs, an unemployment rate of 5.3 percent, and an increase in hourly earnings of 0.2 percent. The payroll company ADP estimated.
S&P Downgrades U.S. Debt Rating to AA+. Standard & Poor’s lowers its triple-A rating on U.S. debt after a challenge from the White House. Robert Holmes. Updated Aug 5, 2011 9:42 PM EDT.
JW Showcase JW Showcase is an open-source, dynamically generated video website built around JW Player and JW Platform services. It enables you to easily publish your JW Player-hosted video content with no coding. JW Anderson has amassed a fairly impressive amount of Converse.
· S&P downgrade of US credit rating sends clear message to Congress: shape up. S&P, one of the three major credit-rating firms, downgraded its rating for US debt Friday night – a move that has the potential to further spook global markets and drive up borrowing costs in the US. The reason for the downgrade, S&P said, was congressional dysfunction.
· Standard & Poors Downgrades U.S. Credit Rating. Just what many feared happen has now happened: Standard & Poors has just downgraded the United States once-stellar debt credit rating.
This is the first credit downgrade in the history of the United States. Friday afternoon, post-market, S&P unleashes a Geithner bomb. While not completely unexpected, given the repeated warnings of ‘$4 trillion in deficit cuts or else,’ some had speculated this week that the embattled ratings agency wouldn’t pull the trigger.