Submitted by: Donald Hank
Even as US Democrats argue that we need to raise the debt ceiling, and even as the GOP compromises with them, making only a minuscule cut in the budget, our sovereign debt credit shifts from positive to negative, and this in turn affects Europe.
Now the question is: how long will if be before there is a massive sell-off of US savings bonds by China and Japan that brings the US economy and US government to their knees?
It's been predicted for years now, and only God's grace has propped up an impossible financial situation.
Credit is all about trust, and trust is earned, not bought with political posturing.
Don Hank
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