...continued. The below is from the same person (and his eponymous firm) that claims U.S. Bonds are junk and Chinese and Thailand bonds are "A" (highest) rated in the world.
My comments in italics.
With our massive deficits, we must go, hat in hand, asking for money from central banks and investors in Asia, Europe, and even Latin America.
We don't need to go to anyone. We don't need to "get" dollars from anywhere. There is no "funding" of our government by other nations. This would be true if our currency were pegged to gold, but no longer applies.
With our massive trade deficits, spending more on imports than we earn on exports, we run back for still more money from citizens of Asian, Europe, and Latin America.
imports are real benefits, exports real costs. This analayis is akin to using Newtonian physics to describe quantum physics...the two systems simply do not meld and require different assumptions to hold valid.
And now, after thousands of such trips and billions of such transactions, we are approaching our final Day of Reckoning.
Here we go...
Amazing how much has changed in just one generation, isn’t it?
Don’t our leaders see how dangerous this is? Don’t they see the consequences of their complacency?
It is amazing, I will give him that.
This is why we have issued our new Weiss Sovereign Debt Ratings. This is why we have rated the United States Government a “C,” two notches above junk.
Yup, U.S. is teetering on junk. Right. The beacon of world freedom, order, and capitalism has a debt rating equal to dictatorial plantation nations whose main exports are drugs. Outstanding.
And it’s also apparently why it has generated such an immediate press media and controversy.
If you own medium- or long-term government notes and bonds, dump them immediately.
If you have your cash in short-term U.S. Treasury bills, bank CDs, or money markets, be sure to surround them with investments that go up when the U.S. dollar falls.
And if you wish to profit from this crisis, consider adding still further to those contra-dollar investments.
Most important, get ready for the coming turmoil in global markets — caused by the Federal Reserve’s follies and Washington’s inaction.
Turmoil yes...most interesting the man does not seem to notice how the dollar and U.S. financial assets perform before, during, and after volatility spikes.