"On April 10, in an interview with a CNN host and political observer Fareed Zakaria, the former secretary of state James Baker, when he was speaking about the current global changes, said the following: “The biggest challenge facing the U.S. isn’t turmoil in the Arab world. It’s our debt bomb”. He said that without a strong dollar the US will turn into the United States of Greece. I think we could go on with the list of the problems the US is not interested in such as human rights, democracy, freedom and other “fundamental” things. It also concerns terrorism to some extend.
Lowering of US state treasury bills’ rating by S&P on Tuesday was a logical though a very belated decision. The additional issue of state treasury bills in autumn 2010 was a desperate measure of the Federal Reserve System following the lack of interest to the treasury bonds among investors. At the same time it might be a good advertisement for the agency and it will keep some influence in future considering that the changes in the entire system of estimates in the rapidly changing financial world are inevitable"..........read it here
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