China's Only Sovereign Credit Rating Agency Says U.S. Has Already Defaulted
I guess now would be an excellent time to define "default." If saying "screw you" to creditors doesn't count, I don't know what does. If only all of us could pull what Washington is pulling right now.
AFP via Yahoo:
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.
"In our opinion, the United States has already been defaulting," Guan Jianzhong, president of Dagong Global Credit Rating Co. Ltd., the only Chinese agency that gives sovereign ratings, was quoted by the Global Times saying.
Washington had already defaulted on its loans by allowing the dollar to weaken against other currencies -- eroding the wealth of creditors including China, Guan said.
Come on, this has been going on for years. I'm getting a little sick of the back and forth between Washington and Beijing, let's just pull out the nukes and get it over with already.