Thursday, July 22, 2010

The Emperor Has No Clothes!

America is Insolvent. Why Would China's Rating Agency Rate US Sovereign Debt AA When it is No Better Than Junk?

By Matthias Chang

URL of this article:

Global Research, July 19, 2010

For all intent and purposes, the United States is insolvent.

This is not my personal assessment but that of world renowned “experts” and economists, and financial institutions. Just google “US Debts” and you can find thousands of analysts stating that there is no way that the US can ever pay off its debts. The US cannot even liquidate the accumulated interest on the outstanding debts. The debts are in the trillions!