Well, it has finally happened! We have now lost our AAA credit Rating! We are definitely not in a "recovery" regardless of what our "Fearless Leader" says from behind his polished teleprompter!
According to Tony Sagami of UncommonwisdomDaily.com, the U.S., like many other countries, has overspent itself into its own decline.
The UNTHINKABLE has happened. U.S. government debt has lost its sterling AAA credit rating! Like Greece, Iceland, and Dubai, the runaway spending from our Washington, D.C., politicians has caught up with us.Known as the world's first "non-Western" sovereign credit rating agency, in its debut international report, Dagong International Credit Rating Co. downshifted the US to AA with a negative outlook, while UK and France were given AA-; Belgium, Spain, Italy with A-.
The good news is that the downgrade has come from upstart rating agency China-based Dagong International Credit Rating. The bad news is that Standard & Poor’s, Moody’s, and Fitch are almost certain to follow, and that will mean disaster for the dollar as well as dollar-denominated assets.
Austerity and VAT will more than likely be the cry from the Dems and Pubs as they call for more plundering of the American citizen in the name of "recovery".
See my article on this subject where I reported on the coming loss of the U.S. AAA Rating -http://www.infowars.com/in-austerity-we-trust/