U.S. Rating Downgrade is Now ‘Base Case’: ISI
By Craig TorresThe odds of the U.S. failing to reach a budget deal by Aug. 2 are about 40 percent, and a reduction of the nation’s credit rating “now seems the base case,” according to Andrew Laperriere, a managing director at International Strategy & Investment in Washington.
Comment: We're entering a new era, let's call it tentatively the "post-dollar world". As to geopolitics, the end of dollar supremacy automatically means the end of the American empire. Was it the largest? It surely was one of the shortest. This is not a time for jubilation. The decline of the US is not only a sad affair but a tragic one. What will come after the collapse of the US? China? Hardly! A deep bust in the US would mean the end of the China boom.