Friday, February 5, 2010

U.S. credit Rating at Risk; Investor Marc Faber Predicts U.S. to Go Bankrupt in Next Decade and Start War

According to articles in Russia Today, the Telegraph, and the Wall Street Journal among others, Moody has warned the U.S. that its triple 'A' credit rating is at risk.

From the Russia Today article:"The United States' top credit rating is at risk, with it's triple 'A' status warned it may be downgraded if the economy grows at a slower pace then expected, says agency Moody's."

Also in the article, investment guru Marc Faber is predicting the U.S to go bankrupt within the next decade and start a war to come out of depression.

“Maximum within 10 years time more than 35% of tax revenues will have to be used to pay the interest on the government debt and then you are in trouble – because then there will be not enough money out of the budget to pay for other stuff. I’m convinced the US government will go bankrupt, but not tomorrow. And before they go bankrupt, they’ll print money, and then you get high inflation rates, you have a depression and eventually they’ll go to war.”

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