Saturday, June 11, 2011

China Rating Agency Warns of US Default

Yahoo! News: China ratings house says US defaulting:

A Chinese ratings house has accused the United States of defaulting on its massive debt, state media said Friday, a day after Beijing urged Washington to put its fiscal house in order.

I think that China is not so much lending us money as they are purchasing future foreign policy concessions. I guess their rating agencies have to pretend otherwise.

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