U.S. loses AAA credit rating from S&P

U.S. loses AAA credit rating from S&P

news.yahoo.com

NEW YORK (Reuters) - The United States lost its top-notch AAA credit rating from Standard & Poor's on Friday, in a dramatic reversal of fortune for the world's largest economy.

S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about growing budget deficits.

U.S. Treasuries, once undisputedly seen as the safest investment in the world, are now rated lower than bonds issued by countries such as the UK, Germany, France or Canada.

(visit the link for the full news article)

Well, it's official now. I feel like Charlton Heston when he discovered the Planet of the Apes was actually Earth. The bastards in DC did it, they finally blew us up.

Monday's market is gonna be a brutal demonstration of why this country made a woefull series of terrible mistakes in leadership election over the past decade and why "We the People" will be the ultimate losers in the whole game.

news.yahoo.com
(visit the link for the full news article)

And the blocks come tumblin' down.

Here we go, time to get ready for um, 'uncertain' times.

Weren't they all clamoring on losing their credit rating. So they pass this bill and lose it anyway. Smart people. Maybe the investors saw that the country will continue going further and further in debt.

Holy damn, I knew something big was going to happen on the 8th!

Unrelated, but happening on the 8th - A CME from the Sun will hit the Earth.

Maybe we will see something geophysical happen as well as something economic.

I am surprised it took this long. The US fiscal situation has been below typical AAA requirements for several years. I guess "Chicago" style political intimidation and threats don't work on everyone. I salute S&P for having the balls to tell the world what most of us already know.

Right now it seems the elected leaders of the US can't even have an intelligent argument over what to do with the economy, so you can forget about them making intelligent decisions. Perharps this will make them smarten up and start thinking about what's best, instead of what sounds best, sound bite politics is responsible for this.

Chances are this will only make divisions worse, there is likely going to be a " new kid in town" when it comes to a global economic leader.

May we live in interesting times......

reply to post by burdman30ott6


All according to plan. Third world countries dont get to have triple A ratings. Thats where we are headed.

It finally happened.

Never thought I would live to see this. Bad......just bad.

This may be the beginning of the end.

Everything that has a beginning has an end. And apparently the end for the US has really started.

Does anyone else smell that? Smells ripe for a false flag. Gotta keep the sheeple distracted.

It's time to turn off the TV, gather the feathers and heat up the tar.

This destruction is being orchestrated and it is time to decorate the conductors!

reply to post by burdman30ott6


What?

Suprise!!! Hoodwinked again!

I thought this was the reason for the Super Congress?

Remember, Obama pleaded....

With the clock ticking, Obama warned of the dire consequences of failing to raise the debt ceiling and said the U.S. is in danger of losing its AAA credit rating over political squabbling.

“We could lose our country's AAA credit rating; not because we didn't have the capacity to pay our bills -- we do -- but because we didn't have a AAA political system to match our AAA credit rating,” he said.blogs.abcnews.com...

You mean to tell me that the Super Congress creation failed already...in premise?

I am sad. sad that my children will not know what it was like to eat fresh food and have a roof over their heads.

I understand that once the rating slips, it is very hard to get it back.

There will have to be an earthquake or something in the next few days to divert this news.

My guess is that the insiders and professionals speculated about this on Thursday...hence the 500 point correction. This could possibly already be accounted for in the markets and instead of free fall, we might be entering a sideways trading cycle. On the other hand, it might be financial Armageddon.

reply to post by mrbarber
Eh...

And we somehow manage to meet the requirements for AA+? You gotta be kidding me...maybe they just have VERY relaxed standards. Granted, I haven't checked the ratings requirements - but we seem to deserve a MUCH worse rating, IMHO.

Take care.

The AAA rating was only lost by the S&P.

Ratings agencies Moody's and Fitch both maintained the U.S.'s AAA credit rating following the debt deal.

source

Not by any means trying to downplay the severity of the S&P loss, but felt it was imprtant to the entire conversation to mention this fact.

Originally posted by ExPostFacto
Weren't they all clamoring on losing their credit rating. So they pass this bill and lose it anyway. Smart people. Maybe the investors saw that the country will continue going further and further in debt.

Well, using countries like Greece & Ireland as an example, when in the hell have austerity measures ever saved a credit rating? That was part of the argument over Greece in the first place. If the IMF forced the gross austerity package on Greece under threat of maintaining credit worthiness in the first place, and then the agencies all stripped every shred of credit worthiness from Greece anyway, then how could the Greek government claim to be serving Greece with a straight face? I feel the same about any US legislator who voted "yea" on the debt bill... they sold America out.

Reply to post by Praetorius

relax, it will come.

next its moodys turn to get moody

austerity measures will be implemented

the rating will drop again

austerity

rating drops

keep doing it until americans go greek like

stay tuned for the next season of global discount season, featuring standard&poors, moodys, and a guest appearance from the imf and the fed.

sell out national assets in exchange for increasingly worthless paper money


Posted Via ATS Mobile: m.abovetopsecret.com

wasnt standard and poor's the same company that accepted all that crap mortgage backed securities, labeled them AAA, etc and were complicit in royally screwing of the economy in the housing bubble?

yeah.. and all this after this grand show of compromise of the debt ceiling?

not even south street on a hot summer day smells this fishy...

Originally posted by CaticusMaximus
reply to post by burdman30ott6

 

All according to plan. Third world countries dont get to have triple A ratings. Thats where we are headed.

Yes, CaticusMaximus, all according to plan. I believe the 2008 crash and the eventual collapse of the USD has been orchestrated. This has been in the works for many years.

Gee, doesn't this mean the banks can raise their interest rates?