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« Government proposal to break up the banks commercial and investment banking operations | Main
Monday
Aug082011

US Credit Rating downgraded

Posted on DateMonday, August 8, 2011

Recession is anticipated in the US given the recent downgrading of the US economy. Government spending in the US is significantly in excess of the country’s GDP and is currently funded by debt. The country’s recent application to increase its debt ceiling has had a resounding effect on the world market.

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