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Jan. 27 (Bloomberg) — Japan’s sovereign credit rating was cut for the first time in nine years on concern that Prime Minister Naoto Kan hasn’t done enough to curb an $11 trillion debt burden, the world’s largest.
The nation’s debt is now ranked AA-, the fourth-highest level and alongside China, by Standard & Poor’s. The reduction from AA was announced by S&P in a statement today. Bloomberg’s Mike Firn reports. (Source: Bloomberg)
Duration : 0:1:36
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As the US debt and China’s assets both continue to grow, China could potentially surpass the US GDP within a decade. Lori Harfenist, also known as “The Resident,” asked people in New York whether Americans should be aware of China’s growing dominant role.
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Duration : 0:2:32
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While compulsively shopping is not a mental disorder, the US has dozens of therapy groups and clinics for those willing to admit they are hooked on spending. Author Dr. Robert Manning says, “We have a decline in real income in America, we have had an expectation that credit isn’t an earned privilege but rather it is an entitlement of American society. “
Duration : 0:4:44
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Dec. 21 (Bloomberg) — Gregory Peters, global head of fixed-income research at Morgan Stanley, talks about the European debt crisis and the outlook for the fixed-income market.
Peters speaks with Margaret Brennan on Bloomberg Television’s “InBusiness.” (Source: Bloomberg)
Duration : 0:4:30
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Dec. 13 (Bloomberg) — Dean Curnutt, president of Macro Risk Advisors LLC, talks about the outlook for the European debt crisis.
Curnutt, speaking with Erik Schatzker on Bloomberg Television’s “InsideTrack,” also discusses the impact of the Federal Reserve’s quantitative easing on investor sentiment. (Source: Bloomberg)
Duration : 0:4:36
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Dec. 7 (Bloomberg) — Jayastu Bhattacharya, chief executive officer of Zipmark Inc., talks about prospects for the mobile payment platform.
Bhattacharya speaks with Pimm Fox on Bloomberg Television’s “Taking Stock.” (Source: Bloomberg)
Duration : 0:5:26
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Dec. 1 (Bloomberg) — John Irons, economist at the Economic Policy Institute, talks with Carol Massar about President Barack Obama’s debt-reduction commission and a proposal unveiled by the panel’s leaders, Erskine Bowles and Alan Simpson.
Irons talks with Carol Massar on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)
Duration : 0:7:19
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Nov. 30 (Bloomberg) — U.S. Representative Jan Schakowsky, an Illinois Democrat and member of President Barack Obama’s debt commission, talks about the outlook for the Dec. 3 vote on its plan for deficit reduction.
The panel needs support from at least 14 of its 18 members to forward a plan to Congress for a vote. She talks with Matt Miller and Carol Massar on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)
Duration : 0:6:12
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In this edition of Peter Lavelle’s CrossTalk, he asks his guests if the rich western countries will ever be able to pay off their mountains of debt — and the consequences of not doing so.
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Duration : 0:26:4
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There is no possibility of agreement at the upcoming G20 summit because the U.S. is declaring financial war on other countries, believes American economist Michael Hudson. The U.S. has been pushing China to revalue its currency — at a time when Washington has been pumping billions of dollars into its economy — a move viewed by other countries as an attempt to deliberately weaken the greenback. The issue of exchange rates is expected to be one of the toughest discussion points at the G20 summit in South Korea later this week. Michael Hudson, a renowned economist and Wall Street financial analyst and advisor, says the meeting in Seoul will not bring an end to global currency wars. “The U.S. is going to China and saying ‘we want you to commit economic suicide just like Japan did. We want you to follow the same way: we want you to re-value your currency, we want you to squeeze your companies, we want you to go bankrupt so we can make our profit at your expense,” says Hudson.
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Duration : 0:10:55
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