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The US debt ceiling:What if the talks fail? [Copy link] 中文

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Post time 2011-7-27 17:20:40 |Display all floors
Which Indians are you talking about ?   Things have changed a bit since '' Ten Bears '   

India is doing pretty well these days.

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Post time 2011-7-27 17:27:06 |Display all floors
Originally posted by St_George at 2011-7-27 17:20
Which Indians are you talking about ?   Things have changed a bit since '' Ten Bears '   

India is doing pretty well these days.

Which country in the world with 2/3 of her population living on less than US $2 a day ??
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Post time 2011-7-27 17:30:54 |Display all floors
Rome wasn't built in a day, both China and India are much wealthier than they were 30 years ago.  They can and ARE investing in infrastructure now which is good.

Also gradually improving wages and worker rights.

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Post time 2011-7-27 17:36:52 |Display all floors
Originally posted by St_George at 2011-7-27 17:30
Rome wasn't built in a day, both China and India are much wealthier than they were 30 years ago.  They can and ARE investing in infrastructure now which is good.

Also gradually improving wages a ...

Didn't you say 'Indians are doing well these days'?
But don't you know 2/3 of her population living on less than US $2 a day ?
That's a huge number of people living below the poverty line,
larger than any other 3rd world countries in the world.
If cheap labor is the advantage, then Indians or Africans would have done better than Chinese, don't you think?
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Post time 2011-7-28 07:21:26 |Display all floors

US credit rating downgrade looking likely

Wed Jul 27, 2011 1:55PM GMT



Market analysts and investors increasingly say the U.S. will lose its top credit rating even if a deal is reached to raise the debt limit, according to a Huffington Post report.

The report says the outcome won't be quite as scary as a default, but financial markets would still take a blow. Mortgage rates could rise. States and cities, already strapped, could find it more difficult to borrow. Stocks could lose their gains for the year.

"At this point, we're more concerned about the risk of a downgrade than a default," said Terry Belton, global head of fixed income strategy at JPMorgan Chase. In a conference call with reporters Tuesday, Belton said the loss of the country's AAA rating may rattle markets, but it's "better than missing an interest payment."

Even with a deadline to raise the U.S. debt limit less than a week away, many investors still believe Washington will pull off a last-minute deal to avoid a catastrophic default. Washington has until Aug. 2 to raise the country's $14.3 trillion borrowing limit or risk missing a payment on its debt. President Barack Obama and Congressional Republicans have failed to reach an agreement to raise the debt ceiling and pass a larger budget-cutting package. Politicians have tied raising the debt limit and spending cuts together.

But at least one credit rating agency has already made it clear that unless that agreement includes at least $4 trillion in budget cuts over the next decade, the country's AAA rating could be lost. Right now, the proposals under discussion cut around $2 trillion or less.

Standard & Poor's warned earlier this month that there was a 50-50 chance of a downgrade, if Congress and President Obama failed to find a "credible solution to the rising U.S. government debt burden." S&P said it may cut the U.S. rating to AA within 90 days. Passing a $4 trillion agreement could prevent a downgrade, S&P said. Huffington Post

FACTS & FIGURES

The U.S. Treasury is borrowing $4.22 billion per day, adding to the current debt. Real Clear Politics

A U.S. Treasury Department report to Congress forecasts that the U.S. debt will rise to $19.6 trillion by 2015. Reuters

Congress has raised the federal debt limit 10 times over the past 10 years. National Journal
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Post time 2011-7-28 12:50:18 |Display all floors

growth

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Post time 2011-7-29 13:31:35 |Display all floors
Analysts say that the nation's credit rating may be downgraded even if the debt ceiling is heightened by next week's deadline. Some say, nevertheless, that a reduction is not the terrible thing many make it out to be. It Seems like every few hours we are assured that this or that compromise was reached, only to have this "deal" broken shortly after. Realistically, the debt ceiling is not the issue here, it will be lifted. Rather, the future budget cuts as conditions to the agreement, are the real obstacle here. Once the negotiators work out the details, there will be a period of time during which analysts debate their impact, possibly creating increased volatility.The proof is here: U.S. credit rating may be downgraded even if debt ceiling not increased

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