Bill Gross - Bill Gross: U.S. is screwed, will lose AAA rating

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Bill Gross: U.S. is screwed, will lose AAA rating

Friday, May 22, 2009
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From Clusterstock:

Tim Geithner is brushing off concerns that the US will lose its AAA rating. Bond king Bill Gross, meanwhile, tells Bloomberg that a downgrade is inevitable.

Why?

- The US and UK have "prospective deficits of 10% annually as far as the eye can see"

- Both countries are seeing an alarming rise in debt-to-GDP. "At some point they may approach 100% of debt-to-GDP, which is a level at which downgrades tend to occur."

Read full article...

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