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FSN: Fitch Downgrades China’s Credit Rating In ANTICIPATION
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
by Martin Armstrong
Armstrong Economics
The Fitch downgrade of China’s credit rating is interesting because it is ANTICIPATING that China will have to bailout the state and local governments as well as banks. Under this approach, Europe should be downgraded to JUNK status.
Fitch downgraded China’s sovereign credit rating for the first time since 1999 because of concerns that the country’s rising debt problems will require a government bailout. The downgrade was from AA- to A+, citing a number of “underlying structural weaknesses” within the Chinese economy primarily focusing upon the rapid expansion of credit. What they are actually doing is trying to predict the next economic recession. They are a few years ahead of schedule. That will be 2016.
Continue Reading at ArmstrongEconomics.com…
2013-04-11 18:48:52
Source: http://silveristhenew.com/2013/04/11/fitch-downgrades-chinas-credit-rating-in-anticipation/
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