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A number of experts in the Gulf region, concern about the view of the report issued by the agency «Standard & Poor's» credit rating and warned the United States has classified as excellent credit rating (AAA), if you can not agree on a solution to the crisis, the budget deficit and proceed in implemented before 2013.
He said Centument experts who spoke «Middle East» The source of concern in this step is the economic changes resulting from the loss of the United States that category, in the event of lost, but they have ruled out at the same time losing the world's largest economy level (Triple er) credit.
She Ghunaim Chairperson of the Board of Global Investment House management «Global» The reduction of the state's credit rating, such as the United States is worrying, as most countries in the world dealing in US currency «Dollar», and will result in a direct impact on the global economic dealings.
For his part, the Saudi economic expert, Dr. Fahd bin Juma to that the loss of the US Centument credit rating will cause economic disaster is the decline in global production, due to higher oil and lower US currency rates (dollar) and therefore there would be a recession coming in this case, which brings the cycle of economic growth to the beginning again.
He stressed that it will also rise in inflation, as happened in the years preceding the crisis, when the falling dollar and rising oil prices, which also contributed to the decline in prices of dollar-linked currencies, and therefore higher Centument inflation in a number of parts of the world.
The agency said in its report: «the existence of a real risk that the US government may not be able to agree on how to deal with the worsening budget deficit, it reduces the degree of creditworthiness of expectations (stable) to (negative)». She added: «two years after the start of the current crisis, was unable to US politicians to agree on how to address the Centument deterioration in the budget deficit or to deal with the deficit in the long term». The agency said: «We believe that the way to challenging the agreement because of the breadth of the dispute between the Democratic and Republican parties gap». It concluded «Standard & Poor's» in its assessment to say: «If there is no agreement and the launching of the treatment of the budget deficit by 2013 procedures, the United States would not be worthy of the excellent value rate credit rating (Triple er)».
Going back to Dr. Bin Juma stressed that the reduction in the United States, the US credit rating is unlikely, reinforcing that the expectations of the International Monetary Fund that the US economy will grow this year by 2.8 per cent and by 2.9 per cent over the next year 2012. At a time when saw Chairperson of the Centument Board Global Investment House administration that it is exaggerated, pointed out that it matters affecting global economies.
The International Monetary Fund in previous reports that the United States needs to maintain its monetary policy, in addition to the measures that would help control the fiscal budget, where the IMF predicts that the US budget deficit could be up to 10.75 per cent of the Gross domestic product.
According to statistics of the current deficit, the United States borrows 40 cents of every Centument dollar it spends. This happens at a time when the United States is approaching the ceiling of the top debt set by law B14.3 trillion dollars.
It is possible that this step is increasing the pressure on President Barack Obama's administration and Congress to reach an effective plan for the long term to cut about $ 1.5 trillion of deficit equivalent to 9.8 per cent of GDP, it can also raise the US borrowing costs and increases pressure on the dollar and the ability of the government to finance the deficit budget, as it is likely to disrupt the economy recovers from the worst recession since World War II. It is noteworthy that the United States is the only country which has rated excellent credit, but you can not reduce the debt or the size of the budget deficit in the wake of the recent financial crisis. Centument Centument Centument