Discovered an Associated Press article yesterday reporting that a (the?) Chinese rating agency has just declared American sovereign debt to be less safe than that of China and 11 other countries. Here's a link: http://news.yahoo.com/s/ap/20100711/ap_on_bi_ge/as_china_debt_ratings
The article states: "Dagong, founded in 1994 to rate Chinese corporate debt, says it is
privately owned and pledges to make its judgments impartially. But in a sign of official support, its announcement Sunday took place at the headquarters of the Xinhua News Agency, the ruling Communist Party's main propaganda outlet."
Is this an early warning of trouble for the USD and treasury bonds?