Tuesday, November 11, 2008

US Govt may Lost Its AAA Rating

US Government Financial Rating may fall from "AAA":

The United States may be on course to lose its 'AAA' rating due to the large amount of debt it has accumulated, according to Martin Hennecke, senior manager of private clients at Tyche.

"The U.S. might really have to look at a default on the bankruptcy reorganization of the present financial system" and the bankruptcy of the government is not out of the realm of possibility, Hennecke said.
Deficit Bailout Spending will be the cause. $1 trillion this year alone, and a large increase in debt load as the US takes on bad assets and bad loans. Japan made the same mistake and got mired in a zero-growth economy. This is what bailouts without end' will lead us to - financial ruin of the whole country. We need to stop the bailouts, now, before it's too late.

No comments: