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.

 

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

page: 3
144
<< 1  2    4  5  6 >>

log in

join
share:

posted on Aug, 5 2011 @ 08:56 PM
link   
reply to post by Campy61
 
Guns are definitely good advice, even if they aren't needed (and ammunition is always a big catch there if you don't know how to or have needed equipment to reload your own ammunition) - I'm pretty sure they'll continue to appreciate in value, regardless.

As far as gold - definitely a better bet than the dollar (and given time, pretty much *any* other currency...), but just with what little reading I've done, gold is likely too volatile and currently-inflated, and silver may be a safer bet. Easier to use as needed, also.

God bless, go in peace.


edit on 8/5/2011 by Praetorius because: (no reason given)




posted on Aug, 5 2011 @ 08:56 PM
link   
reply to post by inbound
 


Im glad im off work on monday so i can keep an eye on the homefront. if people cant get money from the bank they will come looking for it.



posted on Aug, 5 2011 @ 08:57 PM
link   
If anyone remembers Paul Harvey,in his immortal words
" And now the rest of the story"

(Reuters) - A downgrade to the U.S. sovereign credit rating could open up a new world of pain for the dollar.



Already reeling from low interest rates, slow economic growth, and foreign investors eager to diversify away from U.S. assets, the loss of AAA status could cement the view the dollar is no longer the safest harbor in a troubled world. The risk of a downgrade remains real even after Washington's $2.1 trillion budget savings deal, since it fell well short of the $4 trillion Standard & Poor's said would be enough to support the AAA rating with a stable outlook. That it took so much drama to produce such a limited round of cuts has disappointed investors who had grown weary of fiscal weakness during budget crises in the euro zone countries. "A debt ceiling raised plus downgrade equals weak dollar," said Jonathan Lewis, founding principal of Samson Capital Advisors in New York, which manages assets of $7 billion. "Not only would a double AA rating be a concern for international investors, but the fiscal imbalances would not be a good reason to buy the dollar." For years, the dollar has acted as the world's reserve currency, an international store of value for central banks. However, the fact the other safe-haven currencies are gaining at the expense of the dollar suggests investors' views may already be changing, perhaps in anticipation of a downgrade or at least a tough fight to hang on to AAA. Over the last month, the dollar plummeted 6 percent against the Swiss franc and about 4 percent against the yen. "Being the world's reserve currency seems incongruous with a double-A rating," said Barclays Capital in a research note. The only consolation, perhaps, is that the dollar has risen more than 1 percent over the past month against the euro, though only because the euro zone itself is under the gun over fiscal problems of Greece and Italy.


www.reuters.com...



posted on Aug, 5 2011 @ 08:58 PM
link   
I've tried explaining this to my family but nobody seems to really understand what this means and others either have no idea it happened or simply don't care.

That, alone, is disturbing to me..

I had read earlier today that the downgrade was being considered but I didn't think they would actually do it.

It's sad, it's depressing, but life goes on. We'll see what happens next week but the outlook is looking pretty grim.

And they said the recession was over!! Surprise.

-ChriS



posted on Aug, 5 2011 @ 08:59 PM
link   
hold up the last thing people need to do is panic running around with your head cut off like a chicken and your neighbor multiplied by millions of americans will exacerbate the situation.

this news broke on a friday for a reason had it broke on a monday panic would have set in and trillions would have been lost now what we saw in the stockmarket was a panic based off that line of thinking.

the more reserved well thought out people will give a little play to the situation and then make a decision the word i am looking for is prudence and next up patience.

theres no need to go off half cocked do what you have to tho but think long term that is the name of the game

do you live for the moment or do you live for tomorrow.
edit on 5-8-2011 by neo96 because: (no reason given)



posted on Aug, 5 2011 @ 09:00 PM
link   

Originally posted by youdidntseeme
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.




S&P maintained the U.S.'s AAA credit rating following the debt deal too.

They just downgraded it today, maybe Moody's and Fitch will tomorrow or Monday.
There are others however who have us rated much lower than S&P's generous AA+.



posted on Aug, 5 2011 @ 09:02 PM
link   
reply to post by neo96
 


Myself I live for the moment but prepare for tommorrow. But you never know if your going to have one.



posted on Aug, 5 2011 @ 09:02 PM
link   
reply to post by AnotherYOU
 

honestly, it looked better in paper, seeing it play out is getting kind of dull and predictable

i will never understand TPTB and their roleplaying games.

Jaded...nothing's ever good enough for you kids...


As far as not understanding? Come on, friend, what's not to understand about effectively-unlimited wealth and control over the broken and destitute? Remember, the lords were doing quite well when the serfs were subjugated and agreeable...and if the serfs weren't, well - our lords have been building DUMBs, safehouses, paramilitary networks, and counter-terrorism laws to account for quite some time now. They've been stacking the deck as, contrary to popular opinion, THEY actually *did* learn from history. Poor peons, us, however...


Bazinga!

everything is fine, nothing to see here, move along.

Get thee back to Southpark, Barbrady! Yet - sad but true in the general opinion thus far, apparently.

Go with god.



posted on Aug, 5 2011 @ 09:02 PM
link   
Clear reflection of the market not trusting the politicians to fix the deficit. They only focus on spending cuts, and anyone with a calculator can see that this will never work. Unless they start fixing corporate tax loopholes and end the Bush tax breaks for the top 1%, they aren't credible when claiming to "fix the deficit".

Even worse, those spending cuts are often in places where it hinders economic growth.


edit on 5-8-2011 by MrXYZ because: (no reason given)



posted on Aug, 5 2011 @ 09:06 PM
link   
reply to post by inbound
 


it wouldnt be unprecedented if by monday something else happens that will make the market news into "now in other news" instead of "news just in"

in this poorly written episode of LOST, just when things are getting interesting, something else happens so you can shift your focus in another direction.

some would say the writers are making it up as they go along

but homer simpson would briliantly say:

"or is it?"



posted on Aug, 5 2011 @ 09:09 PM
link   
reply to post by AnotherYOU
 


pretty much like the birth certificate issue,blago,healthcare crisis,bp oil spill,bombing libya.

deflection is the name of the game and if people arent talking about it theres no panic and if theres no panic theres

no worry i agree.



posted on Aug, 5 2011 @ 09:09 PM
link   

Originally posted by Praetorius
As far as gold - definitely a better bet than the dollar (and given time, pretty much *any* other currency...), but just with what little reading I've done, gold is likely too volatile and currently-inflated, and silver may be a safer bet.


Agreed. Just cashed out this morning for even more silver bullion late day.
Will this push QE3 sooner because the Bernanke has Jackson Hole at end of August.

To say we are living in interesting times is an understatement.

brill



posted on Aug, 5 2011 @ 09:13 PM
link   
reply to post by neo96
 
Well said. Let's separate the men from the boys.

While I'm in constant recognition of how bad things will get, I also strive to keep in mind that ultimately - and I apologize in advance for going cliche here:


Every man dies - not every man truly lives

(Braveheart)

...and...


You may be a king, or a little street-sweeper, but sooner or later, you dance with the Reaper

(Bill & Ted's Bogus Journey)

The fact that both of those films provide applicable lines is terrible, I know, but it's true. Ultimately, this life (regardless of how trying and terrible it can be at times) is of no effect BEYOND how a man lives and what he does for others in the life. I know not all believe in an afterlife, but regardless, we all share the same end whether good or bad, rich or poor.

In short beyond that - prepare for the worst and wish for the best, and do what little bit you can to spread light and love in this life. We ultimately are all one, so all you can truly do to succeed in this life is to strive to give unto others what you yourself would wish to have. I know that sounds like a load of tree-hugging hippy crap, but that makes it no less true.

And as to the darkness in this life - well, god bless Robert Jordan:

Till shade is gone, till water is gone, into the Shadow with teeth bared, screaming defiance with the last breath, to spit into Sightblinder's eye on the Last Day.


Walk in the light, friend.



posted on Aug, 5 2011 @ 09:14 PM
link   
It's about time... the reason we got further into debt is because we weren't downgraded earlier... the entire bailout and market rally was an illusion.

The United States should have been devalued before 2002, money missing, debt already way above what it was suppose to be. The entire economy and banking system is regulated by the very people that are causing this...

So all things considering, its a good thing we are being devalued, might kick the US into reevaluating the way Capitalism works.



posted on Aug, 5 2011 @ 09:14 PM
link   
I would like to introduce everyone to the three-headed monster called "Inflation". On deck, waiting for his turn is his cousin, "Stagflation".

What does it mean?

You'll be hearing one of these phrases repeated over and over again in the grocery stores, "That costs HOW much?" and "Since when did the price of (fill in the blank) go up that high?"

And say hello to $6.00 / gallon gasoline before the end of the year. (The one prediction I'll make this year.)



posted on Aug, 5 2011 @ 09:17 PM
link   
reply to post by burdman30ott6
 

Is this the same credit rating agency that proclaimed that Fannie Mae-backed junk mortgage bundles were "Triple A," or that Freddie Mac blocks of sub-prime mortgages were "Triple A," and that , 3 weeks bwfore it went bankrupt, Lehman Bros. was a "Triple A" haven for wary investors?

The "rating" agencies are as much hogwash as the US Treasury. Neither we nor they have any credibility in the markets.
You have to use your own sound judgment in every investment. Too many have become too complacent for too long on too few who know too little.


Whatever happened to common sense in risk and investments?

jw



posted on Aug, 5 2011 @ 09:18 PM
link   
reply to post by Praetorius
 


i know that, and i totally agree with you.

let them build DUMBs for defense, i rather try to sound dumb as defence.

hear speak and see no evil


im not a treath to the global elite, nor would i say so if i was.

but still, what comes next is a secret.

plus you dont want to ruin the plot for everyone else, right?
i mean honestly, people are paying to watch this movie.



posted on Aug, 5 2011 @ 09:19 PM
link   
This is all going as they have planned.
They knew ages ago the debt was never able to be repaid
and they have been milking the credit card to the max
and planning for a full default in the EU and US.
The military is all kitted up,
fema is rolling on,
gun legislation is being tweaked
All total BS and spin.

And when it collapses, don't worry, the good citizens
will be allowed to line up for food.
And it's not all about those in 'gated communities',
yeah they are rich, but not useful.
The Mil-Ind look after their own.

But, be honest, who is really to blame for all this?
Check the mirror- Joe the Plumber.
If you think a country should base it's structure on chasing a dollar, that's a sad reflection
edit on 5-8-2011 by CitizenNum287119327 because: (no reason given)



posted on Aug, 5 2011 @ 09:23 PM
link   

Originally posted by BlasteR
I had read earlier today that the downgrade was being considered but I didn't think they would actually do it.
-ChriS


Sorry to tell you, but most rational thinkers believe this is about 6 years overdue!

We cannot borrow more than we take in just to fund give-away programs. If we truly "invested" what we spent from the Treasury, that would be one thing, but most new spending, and ALL spending increases are to maintain the status quo or buy the compliance on perceived constituencies.

Our Constitution does not require 10% of what we spend; we spend to buy dependence upon DC.

jw



posted on Aug, 5 2011 @ 09:24 PM
link   
reply to post by burdman30ott6
 


I think most of us were prepared for this to happen despite the cute puppet show Washington threw together to keep the media attention firmly on themselves. The budget 'solution', if it can be called that, was never a credit solution. I think there was a lot of professional opinions about financial decisions made in Washington that were thrown around as though to make it seem as if our rating was tied into to their decision. In reality it was always going to come down to a larger deficit, hence the reason our rating is now AA.

What should people do now? Last week I was thinking of moving a majority of my small amount of assets into a fixed account. Guess what, I didn't and I don't think many people did. IMO, when things are in free fall mode that's not necessarily the time to pull out, however the knee jerk reaction is what is going to wreak havoc for the average joe. Is this going to level out in the long run? well the answer to that is another question. Do you trust financial trends any more now that we don't have the credit to back it up?

I have no answers at all. What I'm willing to offer up is to be ready for some craziness. How this all translates into future events is yet to be seen, but this will open the door for more madness to begin..... of that much I'm certain.



new topics

top topics



 
144
<< 1  2    4  5  6 >>

log in

join