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

Wait... you mean... voting to increase the debt ceiling (print more money) is seen as irresponsible and -lowers- our credit rating in the view of the business world?

Huh, that's strange... because Obama said...

Really - the man is either hopelessly stupid or malevolent. In either case - he, and all of these reality-challenged morons in Congress need to be run out on a rail.

Seriously - the states need to call a convention and start drafting papers to dissolve the old government and form a new one. We did it, before, to the Articles of Confederation - and we can do it again. Without a huge mess bordering on civil war.

I am so horribly disappointed in this country right now that it honestly makes me angry and gravitate towards 'violent' and 'expedient' solutions. I'm not, at all, surprised this happened. Nor is it really anything all that new - it is just that this moment really defines every problem our current government system has. That problem is that it doesn't see that it has a problem.

The problem, to be blunt, is the interpretation of federally granted rights. Because the federal government sets the -minimum- standard of rights to be provided to people, it gives legislation and courts phenomenal power. It was never really clear what required an amendment to the Constitution and what could simply be passed into law. Health care is a right? Where is it stated in the Constitution? But it's a law that we have to have it if we can afford it - and it will be given to us if we can't. Yet it took a damned amendment to make it illegal to sell and trade human beings (even if they were a different color).

This problem has eaten and crept its way into our lives. The Federal government has become an increasingly personal institution that it was never -NEVER- supposed to become. Because of this - we have a seriously undermined system with no regard for the differences between the concerns of geographic populations. It has become the hub for practically all government revenues (even states don't fund themselves - most get subsidies from the federal government for a number of programs that are "state funded") and thus, the hub of practically all government spending with an emphasis on spreading 'civil rights' in an effort to undermine regional influence (state and local governments).

America needs to stop, step back, and figure out what it really wants out of its government.

If it's a nanny state that buys everything for me - I'm leaving. You don't want my cranky, armed, somewhat-militant personality floating around in your socialist utopia - so it's best for both of us if you just let me leave as I preach from a soap-box.

reply to post by Aim64C


Sir, I'll be leaving directly as you if the situation comes to that, but you nailed the issue perfectly. I agree that a Congressional recall is in order and it is high time for the federal government to cede a good portion of it powers back to their originally designed owners... the states.

I'm not sure why Obama gets the heat for all this? If i recall CORRECTLY...this all began in 2008 with G. Dubya. So, tell me....how is it that Georgie boy gets away with the destruction of America, and Obama gets all the blame? Uh, excuse me....but Bush's policies are still in play....and as far as i'm concerned....BUSH is the problem for all this mess. 9-11 was the start! Which reminds me....next month is September...and CRAZY things happen in the month of September.

Originally posted by nuttin4U
I'm not sure why Obama gets the heat for all this? If i recall CORRECTLY...this all began in 2008 with G. Dubya. So, tell me....how is it that Georgie boy gets away with the destruction of America, and Obama gets all the blame? Uh, excuse me....but Bush's policies are still in play....and as far as i'm concerned....BUSH is the problem for all this mess. 9-11 was the start! Which reminds me....next month is September...and CRAZY things happen in the month of September.

Oh boo hoo! Well Bush is not here now is he? Let's say you were a janitor, and I hired you to replace the last one, whom left the boiler broke. And 4 years later, you still have not fixed it, of course I am going put it all on you! If you don't want the responsibility... then don't take the job! I'm sure when when it's all good he get's all the credit though, right?

ETA: Brings a new meaning to, "beating around the bush."

reply to post by AMANNAMEDQUEST

Oh boo hoo! Well Bush is not here now is he? Let's say you were a janitor, and I hired you to replace the last one, whom left the boiler broke. And 4 years later, you still have not fixed it, of course I am going put it all on you! If you don't want the responsibility... then don't take the job! I'm sure when when it's all good he get's all the credit though, right?

So let's follow along with your analogy - let's say you did hire a new janitor to replace one who left the boiler broken - and then shortly after hiring this replacement you then went and cut his brake lines while pushing him off a cliff - all the while accusing him of not fixing the previous janitor's mistakes.

Repubs set out after the 2008 election to do whatever it took to destroy Obama, no matter what the cost to the economy was.

reply to post by Blackmarketeer


He's the commander and fricking chief for crying out loud. I'm not giving him a break or any excuse. And you’re not going to milk any empathy from me. He’s as much to blame as anyone! The S&P, instead of playing favoritism, actually did the right thing.

Originally posted by nuttin4U
...this all began in 2008 with G. Dubya.

Actually this has been in the works since the 90's or even further back.
What really set this up to happen faster was when they got rid of the Glass-Steagall Act
in 1999.
David Icke was warning people about this way back then but no one listened.

I saw it starting in Dec. 2000. when a company I worked for went bankrupt, was bought by Soros, and sold off to Bombardier Rec.

WTF do you people expect?

1 in 5 people in this country can't find a job.

ONE IN FIVE.

Many corporations are paying no taxes.....and even those that are receive taxpayers subsidies.

The wealth disparity in this country is exploding. Government is actually making it more difficult for regular people to make it by cutting spending programs which help them...which is an increase in the cost of living....in fact...

IT'S THE EQUIVALENT TO A TAX INCREASE FOR THOSE WHO ARE STRUGGLING THE MOST.

Our trade policies are absolutely terrible and promote the outsourcing of what was good paying jobs.

ANd god forbid....RON PAUL IS NOT YOUR SAVIOR. He is leading many of you NO WHERE. He is not the answer!!!!!!

If you want your country back in shape, then START SUPPORTING YOUR NEIGHBORS, THE UNEMPLOYED, THE POOR,ETC.

Start supporting WWII vets who are drawing SS and Medicare that gave us what we have squandered.

THIS COUNTRY HAS NO MORALS...IT HAS LOST IT'S HUMANITY.

Our credit rating may now be downgraded to AA......but our sense of country and pride is an F.

A BIG FAT F.

From 2001 to 2009 federal receipts as a portion of GDP fell from 20% to 16% while expenditures went from 18% to 26%. Thus started the 10% of GDP deficits which have finally led to the first in a coming series of downgrades.

Our trade policies are destroying our country.

It's the number one problem and it's simply not being addressed.

Lets say your continuing to beat around the bush

Obama knew exactly what he was getting into, or at least he thought he did. 2008 is not 2011, Bush is years gone at this point. So he shouldn't even be brought up with this conversation, thats all the liberals of this world can think of well Bush did it. NO!!!! BARACK did it! Barack H. Obama Jr. has been President of the United States since Jan 20th 2009 the day Mr. Bush left office.

From Jan 20, 2009 Obama has accept the position and takes all responsibility for it, if he wanted to repeal any Bush era policies it was a vote in the House and Senate or a stroke of his many pens. But no....

He continued the Wars in Iraq and Afganistan, which he increased this war and pushed further into the tribal regions which got many soldiers killed. He ordered an attack on Libya (not a threat to US) costing the country millions even billions of dollars at this point. He has increased attacks over Middle East and Africa with Missile Attacks.

He is always partying and going on Vacation, he is just living it up, while the rest of us struggle to survive!

It'll be fun (in a dark and dismal way) to watch the blame-game unfold.
Keynesian economic policies brought us here. We need to restructure everything in terms of how we spend.
I hope Obama enjoyed his 50th b-day party, because his 51st is going to SUCK!

Only in the last decade in all its history has the world seen statesmen mad enough to cut taxes while waging wars. Obviously both these madmen and their bankrupt plans have been put in place to deliberately fail. There´s no way around it.

reply to post by nuttin4U

I'm not sure why Obama gets the heat for all this? If i recall CORRECTLY...this all began in 2008 with G. Dubya. So, tell me....how is it that Georgie boy gets away with the destruction of America, and Obama gets all the blame? Uh, excuse me....but Bush's policies are still in play....and as far as i'm concerned....BUSH is the problem for all this mess. 9-11 was the start! Which reminds me....next month is September...and CRAZY things happen in the month of September.

How the young live in ignorance of the past...

Yes, the Bush administration spent a few pretty pennies we didn't have. Something like 200-400 billion a year more than we had, depending upon what years you're looking at. The largest pay-out came toward the end of his second term, when banks capitulated and found out that fractional reserve banking has its drawbacks. Or... would have - except the FDIC insured the account balances in the banks. It sounded like a good idea at the time (back in the 30s), okay - never caused us -too- many problems until recently.

Anyway - so, you would have been pretty pissed to walk in and use your checking account, only to find out *gasp* the bank had no money - their bank notes were worthless, etc.

I would. But, there again - I should do my banking with reputable banks that use responsible accounting and lending practices.

Why does every bank suck, then? Because business is inherently evil and about greed? No - because business is about utilizing what is available to turn out a product or service that someone will buy. Enter the Federal Reserve and FDIC. Normally - a bank wouldn't leave such a low amount of reserves to cover its liabilities (an account is a liability - they are liable to pay you the balance of your account upon request). However - the FDIC and Federal Reserve cover all of this. The Federal Reserve ensures that no bank's notes are any more or less credible than any other institutions; and the FDIC pretty much insures that no one will ever -not- get their money.

The "sell out" in Washington was never really up for debate. The federal government was contractually liable for the amount of money the banks didn't have.

So - you can blame it on Bush - or you can step back and take a look at things.

Obama, on the other hand, set his base-line of spending at the levels we saw with the "sell out." His budgets have never run less than a 1 trillion deficit.

That is absolutely staggering. www.usgovernmentspending.com...

Take a look at the graphs. Pictures always make things easier to understand. The graph on the left shows annual federal government deficit spending in dollar values. If 2008 was a spending spree... I have no friggin' clue what 2009 was. The graph on the right shows spending as it relates to GDP - IE - that shows how much the government is spending versus the relative productivity of the U.S. - high spending-to-GDP means that, for the amount of business going on int the U.S., the government is spending an elevated amount. It's a directly proportional relationship - not hard to figure out.

Bush did increase spending - but, by nowhere near the amounts we have seen under the Obama administration.

reply to post by Stormdancer777


The dollar will fall in value; gold and Swiss franc will go up

if people want to know what the future holds watch gold prices monday and for the week.

in order to get to 2000 an ounce something had to happen and it did.

what gold does is the way the economy will go its been that way forever.


for the record gold was around 725 an ounce when obama took over i think now look at it.

reply to post by beezzer

I hope Obama enjoyed his 50th b-day party, because his 51st is going to SUCK!

Yeah, cuz it's ALL OBAMA's FAULT.

For the love of fricking god....HE CAVED AND DIDN"T INCREASE TAXES ON THE WEALTHIEST 1 PERCENT AND HE DIDN"T CLOSE CORPORATE TAX LOOPHOLES.

You piss and moan at what he doesn't do but you support the same people who keep him from doing anything that could be meaningful.

YOU ARE JUST AS MUCH AT FAULT AS HE HIS. The middle class is falling apart at the seems...good, honest, hard working people are getting completely screwed.

There is no job creation...private sector is creating little to no jobs while corporations make record profits...and anyone working for the government is under constant attack, no matter what their job actually is, as it's against an ideological belief.

The current environment is anti economy...anti-job growth.

This country has zero unity, zero compassion, but hot damn...we are stocked full of selfishness.

Is it time to start the "grow it where you eat it" campaign yet?

My hydroponic vegetable garden has a faraday cage, triple-deadbolt, GPS proximity alert system with sentry guns and 1080p HD cameras poised at the driveway. lol

Didn't someone bet billions that this would happen? My goodness. I wonder how much they made from that.

short U.S. Treasuries, short the U.S. dollar, move to higher levels of cash and buy commodities like oil, silver and gold.