China downgrades $US debt: Obama’s lame response at G20 after QE2 – anti-business + hot money

(composite video – BO @ 0.55+) As the G20 Summit wrapped up in Seoul, CCTV correspondent Rui Chenggang asked US President Barack Obama how he would address the problem of being ‘mis-interpreted’….. China’s Dagong Lowers US Credit Rating on Fed Monetary Policy – Dagong Global Credit Rating Co. reduced its credit rating for the US to A+ from AA, citing a deteriorating intent and ability to repay debt obligations after the Federal Reserve announced more monetary easing. The credit outlook for the US is “negative,” as the Fed’s plan to buy government debt will erode the value of the dollar and “entirely encroaches” on the interests of creditors, analysts at Dagong, one of China’s three largest ratings companies, said in a statement. The US is rated Aaa and AAA by Moody’s Investors Service and Standard Poor’s Corp., the highest credit ratings of the New York-based companies. The downgrade came before a meeting of leaders of the Group of 20 nations this week in Seoul and as the US steps up pressure for China to let the yuan strengthen to help reduce the US trade deficit. China countered the criticism by saying US economic policies threaten the stability of developing nations….. www.bloomberg.com A Chinese credit rating agency, Dagong Global, says it will cut the US’ credit rating, and adjust its outlook to negative. As the world’s largest economy struggles to recover from the crisis, many believe it could implement further easing measures. Doubts over the US’s ability to …