Two American icons, General Electric and Berkshire Hathaway, lost their triple-A credit ratings. Then China, America’s largest creditor, called for a new global currency to replace the dollar just weeks after it demanded Washington guarantee the safety of Beijing’s nearly $1 trillion debt holdings. And that was just in March.
These events are the latest warnings that our world is changing far more rapidly and profoundly than we – or our politicians – will admit. America’s own triple-A rating, its superpower status, is being downgraded as rapidly as its economy.
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