Standard & Poor’s analyst Nicola Swann’s decision to downgrade U.S. sovereign debt outlook (of the gold-plated AAA rating) underscores the growing view that America is a super-power in decline. Swann has based his finding on U.S’s staggering debt ($14.3 trillion & growing), Washington’s large budget deficit and American politicians’ squabbling and evident lack of will to rein these in and prevent United States from sinking under a mountain of debt.
American officials including Treasury Secretary Timothjy Geithner are a worried lot although trying to challenge the outlook and contest its reading that they are a scrappy divided lot. Their optimism and strength in the form of unique advantages are stemming from the dollar’s preeminent place among the world currencies.
American officials including Treasury Secretary Timothjy Geithner are a worried lot although trying to challenge the outlook and contest its reading that they are a scrappy divided lot. Their optimism and strength in the form of unique advantages are stemming from the dollar’s preeminent place among the world currencies.
How long will your rich resources come to your rescue?
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