U.S. Need Not Fear Sovereign Debt Crisis, Unlike Greece, It Actually Is Sovereign
Jul 24, 2010 – 02:03 PM
By: Ellen_Brown
Last week, a Chinese rating agency downgraded U.S. debt from triple A and number one globally, to “double A with a negative outlook” and only thirteenth worldwide. The downgrade renewed fears that the sovereign debt crisis that began in Greece will soon reach America. That is the concern, but the U.S. is distinguished from Greece in that its debt is denominated in its own currency, over which it has sovereign control. The government can simply print the money it needs, or borrow it from a central bank that prints it. We should not let deficit hawks and short sellers dissuade the government from pursuing that obvious expedient… Business Consultant Tucson
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