Comments on: China News http://moslereconomics.com/2008/12/24/china-news/ St Croix, United States Virgin Islands Tue, 22 May 2012 23:36:05 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: warren mosler http://moslereconomics.com/2008/12/24/china-news/comment-page-1/#comment-2930 warren mosler Sun, 28 Dec 2008 12:30:49 +0000 http://www.moslereconomics.com/?p=5598#comment-2930 Interesting how they seem to be morphing to rating local currency govt debt based on the likelihood that the currency might depreciate. I've noticed that in the US ratings agencies as well. Definitely confuses what ratings are all about! Interesting how they seem to be morphing to rating local currency govt debt based on the likelihood that the currency might depreciate. I’ve noticed that in the US ratings agencies as well.

Definitely confuses what ratings are all about!

]]> By: RSG http://moslereconomics.com/2008/12/24/china-news/comment-page-1/#comment-2915 RSG Wed, 24 Dec 2008 17:42:48 +0000 http://www.moslereconomics.com/?p=5598#comment-2915 Japanese rating agencies about as competent as US counterparts: Japan should write-off its holdings of Treasuries because the U.S. government will struggle to finance increasing debt levels needed to dig the economy out of recession, said Akio Mikuni, president of credit ratings agency Mikuni & Co. The dollar may lose as much as 40 percent of its value to 50 yen or 60 yen from the current spot rate of 90.40 today in Tokyo unless Japan takes “drastic measures” to help bail out the U.S. economy, Mikuni said. Treasury yields, which are near record lows, may fall further without debt relief, making it difficult for the U.S. to borrow elsewhere, Mikuni said. Bloomberg Japanese rating agencies about as competent as US counterparts:

Japan should write-off its holdings of Treasuries because the U.S. government will struggle to finance increasing debt levels needed to dig the economy out of recession, said Akio Mikuni, president of credit ratings agency Mikuni & Co. The dollar may lose as much as 40 percent of its value to 50 yen or 60 yen from the current spot rate of 90.40 today in Tokyo unless Japan takes “drastic measures” to help bail out the U.S. economy, Mikuni said. Treasury yields, which are near record lows, may fall further without debt relief, making it difficult for the U.S. to borrow elsewhere, Mikuni said. Bloomberg

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