US Government is bracing themselves for a S&P downgrade as early as today

The US administration don't mind calling on the rating agencies to downgrade other countries credit ratings and yet the administration challenges the agency's calculations of the government's finances.

Good, serves them right* thats what they get for hiring NASA and smart mathematical people form college to work for wallstreet, conjuring up things like Derivities, designed too screw every single one of us out of our homes, along with the rising cost in food. Inflation* they should have jsut left things alone, hire committed and want too be buisness people for wallstreet...not algebra majors who conjure up formulas to take everything away from us. this is what happened, ide imagine starting with Henry paulson..it was his idea.
tampering with the lives, homes, and values of us, the taxpaying citizens is what has happened. those mathematicians shuold be fired on spot* and replaced wtih buisness people on wallstreet, and derivities, honestly should be banned from practice. ide bet a very good prtion of wallstret, refelcting back on us on the streets, would balance more than a bit better*

man, i hope the AAA is literally stripped form their hands thier,a nd snipped up in front of them like a bad credit card at a macys counter

Originally posted by surrealist
Incredible, the threats are a sign of desperation and retaliation. The US administration don't mind calling on the rating agencies to downgrade other countries credit ratings and yet threaten to audit the agency when they flag their intentions to downgrade the same.

Indeed. This is what happens when Chicago thugs come in power.

SP is indeed a joke and incompetent, but threatening them from finally finding their balls is just disgusting.

SP requirements :

Stability and legitimacy of political institution

Legitimacy of political institutions... mwahahaha... corruption is in all three branches... worthy of a bankrupt rating.

Popular participation in political process

40% of people voted in 2010... mwahhaahha... worthy of a bankrupt rating.

Orderliness of leadership succession

Yeah that's working.

Transparency in economic policy decisions and objectives

Non-existent.

Public security

If by that you mean getting your butt kicked by cops for no reason and raped by the TSA, then yes, there's security.

Geopolitical Risk

Involved in dozens of countries around the world, doing coups... almost a civil war right on the border (mexico), bombing or occupying 6 countries... yeah totally NO geopolitical risk there...

SP is a joke.

And the White House saying that they are off by trillions... really? Derivatives that can blow up at any time are worth hundreds of trillions of $$... almost every big bank in the US is bankrupt... the FED has given 16 trillion in the last 3 years to foreign banks... etc... Yeah they are off by trillions... they are way underestimating the debt load the US government has created.

Originally posted by beezzer
reply to post by Vitchilo

 

Agreed. BUT. . . this will strengthen a position on spending cuts.

We can't continue down this path.

AND revenue hikes! Sorry, I couldn't resist.
And I actually really do think it will take both.
And I totally expected a downgrade based on the bill they passed. If they didn't then they are all too dumb to be there.

Just another identity theft.
Americas credit, use to be Republic
but someone stole their identity and charged
some Socialist/Fascism/Marxist stuff at Wal-mart.
They should of used VoteLock!

Just a little note... in the 90s, an AAA rating was thought of as golden... with no problem... if there were any DOUBTS about it, if the country deserved it, then, by definition, they had to lose the rating...

Now just think about that for a second... if the 90s standards were applied today, most countries with an AAA rating would lose it tomorrow morning..... especially the US.

Remember this?
Rating Agencies Repeatedly Caved To Banks' Demands And Helped Cause Crisis, Report Finds

The major credit rating agencies repeatedly sold out to Wall Street banks, so addicted to short-term profits that they sacrificed the accuracy of their reports to maintain a competitive edge, a two-year government investigation has concluded.

Bunch of corrupt bastards... they were paid the first time...

Of course the White House could have just said... downgrade us and we'll go after you for causing the economic crash in 2008 with your made up ratings...

Just saw it on cnbc.com's frontpage. S&P downgraded the US to AA+ just a little bit ago.

Ought to be an interesting weekend for pundit watching. Its becoming a sport you know.

reply to post by Sir Solomon

Just saw it on cnbc.com's frontpage. S&P downgraded the US to AA+ just a little bit ago.

Ought to be an interesting weekend for pundit watching. Its becoming a sport you know.

So what does that do to us peasants???

What does it do to the USA as the World Reserve Currency???

Credit rating agency Standard and Poor's says it has downgraded the U.S. credit rating from a top AAA rating to AA+, the first debt downgrade in U.S. history.

www.foxnews.com...

This HAS to be proof positive that keynesian economic policies WILL NOT WORK. The country has to be fiscally conservative. Stop spending. Stop spending. Stop spending.

To continue to do so will destroy our country.

Must be nice for all of those calling for the govt to lose its rating. For all of us, living paycheck to paycheck, i give you not one but both middle fingers.

If you do not like fox news, then this might be ok finance.yahoo.com... from the link

Martin Crutsinger, AP Economics Writer, On Friday August 5, 2011, 11:55 pm

WASHINGTON (AP) -- The United States has lost its sterling credit rating from Standard & Poor's.

The credit rating agency on Friday lowered the nation's AAA rating for the first time since granting it in 1917. The move came less than a week after a gridlocked Congress finally agreed to spending cuts that would reduce the debt by more than $2 trillion -- a tumultuous process that contributed to convulsions in financial markets. The promised cuts were not enough to satisfy S&P.

wonder what Monday will bring? All I can say is it will not be good news.

Originally posted by Misoir

You do not burn down the house because you want to redecorate; you do it room by room within budget and responsible planning for a good outcome. That is what the reasonable solution to a problem is, not “I poured the gasoline, you got the matches?”

In this case though, do you roll the victim in the dirt and cover with a blanket or let them burn good n proper.?

Originally posted by amongus
Must be nice for all of those calling for the govt to lose its rating. For all of us, living paycheck to paycheck, i give you not one but both middle fingers.

You might want to hang on to those fingers, you might need to eat them, later.

Originally posted by amongus
Must be nice for all of those calling for the govt to lose its rating. For all of us, living paycheck to paycheck, i give you not one but both middle fingers.

Misplaced blame. Try pointing those fingers at D.C.. This is just the start of a correction that is much needed if you want to continue to HAVE a paycheck.

reply to post by amongus

Must be nice for all of those calling for the govt to lose its rating. For all of us, living paycheck to paycheck, i give you not one but both middle fingers.

A lot of us have been screaming our bloody heads off that the US government needs to get their act together but all we heard was the liberals whining about how we could not cut this program or that program and they absolutely HAD to have Obamacare and the NEW Food Safety program....

On the other side we hear the War Hawks saying we have to invade yet another country.

Well guess what???

CHINA is now calling for International supervision over the issue of US dollars should be introduced and a new, stable and secured global reserve currency may also be an option to avert a catastrophe caused by any single country

ENTER GLOBAL GOVERNANCE stage left!

That has been the whole object of the entire Dog and Pony show since CLINTON ratified the World Trade Organization.

A year ago in The Global Journal this article appeared Of What Use is Global Governance? written by Pascal Lamy, Director, World Trade Organization (WTO) He speaks of the European Union as sort of an intermediate stage.

...the very incarnation of an international organization of integration in which Member States have agreed to relinquish sovereignty in order to strengthen the coherence and effectiveness of their actions.

...If there is one place on earth where new forms of global governance have been tested since the Second World War, it is in Europe. European integration is the most ambitious supranational governance experience ever undertaken. It is the story of interdependence desired, defined, and organized by the Member States. In no respect is the work complete—neither geographically nor in terms of depth (i.e., the powers conferred by the Member States to the E.U.), nor, obviously, in terms of identity....

Our challenge today is to establish a system of global governance that provides a better balance between leadership, effectiveness, and legitimacy on the one hand, and coherence on the other...

Global Governance 2025: at a critical juncture

Global governance – the collective management of common problems at the international level – is at a critical juncture. Although global governance institutions have racked up many successes since they were developed after the Second World War, the growing number of issues on the international agenda, and their complexity, is outpacing the ability of international organisations and national governments to cope....

Three effects of rapid globalisation are driving demands for more effective global governance....

The shift to a multipolar world is complicating the prospects for effective global governance over the next 10 years. The expanding economic clout of emerging powers increases their political influence well beyond their borders. Power is not only shifting from established powers to rising countries and, to some extent, the developing world, but also towards non-state actors. Diverse perspectives on and suspicions about global governance, which is seen as a Western concept, will add to the difficulties of effectively mastering the growing number of challenges.

Problem, Reaction, Solution

First the government/elite create the problem, ... then offer the solution to the problems they have created. A solution always worse for people and better for THEM, and the gullible nitwits fall for it every single time...

I wouldnt say the US is done.... Its not that big of a deal really.... Not to them.... I mean, they still have the AAA rating with every other similar agency.