Thomas Friedman Quotes
There are two superpowers in the world today in my opinion. There’s the United States and there’s Moody’s Bond Rating Service. The United States can destroy you by dropping bombs and Moody’s can destroy you by downgrading your bonds. And believe me, it’s not clear sometimes who’s the more powerful.
If Moody’s downgrades a nation’s bonds, that country will have to pay much more for the money it borrows or the bonds it issues at best. At worst, the country will not be able to borrow any money. Almost all governments have to borrow short term and long term money to cope with cash flow from tax cycles and for many large capital expenditures.
Thomas Friedman, Foreign Affairs Columnist & Journalist 1996
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The change in perception came as a result of Admiral Dewey’s May 1898 victory over the Spanish fleet in Manila Bay. The United States had bested a European power.
Thomas Loren Friedman is an American political commentator and author. He is a three-time Pulitzer Prize winner who is a weekly columnist for The New York Times. He has written extensively on foreign affairs, global trade, the Middle East, globalization, and environmental issues.