It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Uncle Sam Wants His AAA Rating

page: 1
4

log in

join
share:

posted on Jan, 13 2011 @ 10:39 PM
link   

Uncle Sam Wants His AAA Rating


www.nytimes.com

It was not the first time the agencies, Standard & Poor’s and Moody’s Investors Service, warned that the nation’s gilt-edged rating might fall into jeopardy.

But the two statements, made within hours of each other, were seized on by deficit hawks as further evidence that the government must reduce spending and debt to avert disaster. That is just what many Tea Party supporters insist.

(visit the link for the full news article)




posted on Jan, 13 2011 @ 10:39 PM
link   

But others see the mounting national debt as a potential danger. What once seemed unthinkable — that one day the United States government would no longer be accorded the highest credit rating — is now not only thinkable, but increasingly probable.

“I am concerned about the unsustainability of our long-term situation,” said Peter G. Peterson, a co-founder of the Blackstone Group and a prominent deficit critic.

In a quarterly report on the nation’s credit risk, Moody’s said there was an increasing probability of revising its outlook on its Aaa rating for the United States to negative from stable within the next two years if no action were taken.


The day of reckoning is fast approaching. I don't think people realize that we pay something to the tune of $33.19 Billion on the interest to our national debt alone, every month. With a less than AAA rating the number, which is already hard to comprehend, will skyrocket and becoming unpayable without austerity measures that will cripple every single American.

What is even scarier, is that most countries are still pegged to the U.S. Dollar, and this will cause a death spiral of all world economies like we have never seen.

This is something to watch very closely.

www.nytimes.com
(visit the link for the full news article)
edit on 2011/1/13 by sbctinfantry because: (no reason given)



posted on Jan, 13 2011 @ 10:46 PM
link   
reply to post by sbctinfantry
 



The day of reckoning is fast approaching. I don't think people realize that we pay something to the tune of $33 Million on the interest to our national debt alone, every month.


I'd say you are missing a few zeros in there mate...
It's bad.......



posted on Jan, 13 2011 @ 10:46 PM
link   
Wait until the price of oil is no longer pegged to the dollar.

10 bucks a gallon, easy.




posted on Jan, 13 2011 @ 10:49 PM
link   
The freaking rating agencies are corrupt to the bone and a triple-A hasn't really meant anything for years now, maybe decades, even.

That even such meaningless credentials can no longer be applied to the US with a straight face speaks volumes about just how rotten things are getting.



posted on Jan, 13 2011 @ 10:55 PM
link   
A Matter Of Interest

According to the U.S. Treasury, the total amount spent on national debt interest in 2010 was $413,954,825,362.17, or about $414 billion.

That comes out to about $34.5 billion per month, $1.13 billion per day, $47 million per hour, $787,000 per minute or about $13,000 per second.

All so the government can spend more money than it takes in.



posted on Jan, 13 2011 @ 10:57 PM
link   

Originally posted by silent thunder
The freaking rating agencies are corrupt to the bone and a triple-A hasn't really meant anything for years now, maybe decades, even.

That even such meaningless credentials can no longer be applied to the US with a straight face speaks volumes about just how rotten things are getting.


Triple A rating means a lot, when you're talking about interest payments. Imagine your credit going from 700 to 500, your interest payments are going to jump from 30%. It's a big deal when you're talking about the numbers.

Also, the previous poster was correct, I meant to say billions instead of millions. Yes that's right, we pay $33.19 Billion dollars a month in INTEREST payments alone. What number would that come out to if it were at a higher interest rate?



posted on Jan, 13 2011 @ 11:11 PM
link   
Exactly. Imagine the depression that'll hit if we lose AAA rating. . Best believe you'll see some Reagannomics "trickle-UP" Frankenstein; reaching deep into our pockets to stave off a deeper depression.

Problem is, that'll probably just make things worse... all leading up to NAFTA/NWO/Non-American Petrodollar. Take your pick, they're probably coming..



posted on Jan, 13 2011 @ 11:21 PM
link   
reply to post by sbctinfantry
 


Well, yes, sure it means a lot in that sense. What I take issue with are the criteria used for handing out the ratings.



posted on Jan, 13 2011 @ 11:41 PM
link   

Originally posted by silent thunder
reply to post by sbctinfantry
 


Well, yes, sure it means a lot in that sense. What I take issue with are the criteria used for handing out the ratings.


I concur. I also take issue with the fact that those same Credit Bureau's are so in bed with the major banks it's disgusting. Take five minutes to look into the Board of Directors for these CRB's and it's disgustingly clear.

Just one of many examples:

Name : Linda Huber
Affiliations : Moody's Board of Directors, U.S. Trust, Bank of America Private Wealth Management
Source : investing.businessweek.com...:US



posted on Jan, 13 2011 @ 11:53 PM
link   
reply to post by sbctinfantry
 


Indeed. Linda Huber's laundry list of dirty posts include:

  • Executive responsibility for Moody's global finance activities (accounting and financial reporting, tax, treasury, business planning, investor relations and internal audit.)
  • Chief Financial Officer and Executive Vice President at U.S. Trust Company, a wholly-owned subsidiary of Charles Schwab & Company, Inc.
  • Managing Director at Freeman & Co.
  • Vice President of Corporate Strategy and Development for PepsiCo
  • Vice President and Assistant Treasurer for PepsiCo
  • Vice President in the Natural Resources Group at Bankers Trust Company
  • Associate in the Natural Resources Group at The First Boston Corporation
  • U.S. Army Captain in the Seventh Infantry Division and Sixth U.S. Army

    Aside from her service record, it's quite obvious she's been a Corporate lapdog for quite some time...

    edit on 13-1-2011 by igigi because: .




  • top topics



     
    4

    log in

    join