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

reply to post by David9176

And here it is. . . . the rabid Obama-ites come out of the woodwork.
WHO is president?
WHO is in charge?

It's this idiotic spending/keynesian policies that have gotten us here. The president is a fail! His policies? FAIL!
The GOP is to blame as well. The weak-kneed sissies in the House had to know this was coming. An they failed.

But the buck stops here.
Remember that?

We were crazies!

All of us! Crazier then batsh#t!

All the while we sat there and tried waking people up to how deep in the sh#t we were. To how very dire our economic situation truly was.

Come next week the reckoning begins.

How will your friends and co-workers handle this?

reply to post by sliceNodice
Uh yea as long as we have Base ball hot dogs and a Chevy we will not give a rats@$$ take them and then the Gov better run, till then Biz as usual war tax TSA DHS AA+ rating unemployment forced health care corruption Tax higher interest rates TAX gun control... you get the idea.

Originally posted by Hessling

How will your friends and co-workers handle this?

I predict an increase in "Going Postal"

watch your backs, trust no one

reply to post by beezzer

And here it is. . . . the rabid Obama-ites come out of the woodwork. WHO is president? WHO is in charge?

I am not an Obama supporter.

And above all.....you were the one Supporting tea party Republicans who were threatening default just DAYS AGO...which would have lowered our credit rating as well. Remember..."It's all about values and principles?" That's what you you stated to me a few days ago or something to that effect.

He wanted tax increases...he caved...and compromised. It doesn't take a GD Obama supporter to see what happened.

reply to post by Hessling
That is if they have their jobs come Monday, some might get the pink slip for if the Biz cannot pay higher interest then who pays? you do workers come and go Biz will do all it can to stay in Biz.

Originally posted by David9176
reply to post by beezzer

 

And here it is. . . . the rabid Obama-ites come out of the woodwork. WHO is president? WHO is in charge?

I am not an Obama supporter.

And above all.....you were the one Supporting tea party Republicans who were threatening default just DAYS AGO...which would have lowered our credit rating as well.

He wanted tax increases...he caved...and compromised. It doesn't take a GD Obama supporter to see what happened.

YUP. I wanted a default. I wanted no new spending. Damned straight.

Let me ask you something?
In light of the recent ratings drop, do we;
1. Increase spending?
or
2. Decrease spending?

Careful how you answer.

I blame Bush and all the greedy racist people in this nation. Just could NOT let Obama save the economy. They deserve everything that get now. Who has the credit cards and the house mortgages ?

Guess who will be paying higher interests rates now ? I said it before I will say it again. When you ignore the plight of others who you think are beneath you, you are only making yourself to suffer. Some people thought they were untouchable and now look at us.

We're all in trouble now.

Well I saw this coming about the time when I made a post about the Treasury figures about personal income. The fact that the information showed huge difference between Black and white declines in income riled up some people.

I do remember stating that this was definitely a “canary in a coal mine”. Well the canary just fell of its damn perch. Things are interconnected.

I did not mean to crow but I was right!

Anyway some argue that the stock exchanged has factored this rating drop in… I say “No”. The threat has crystallised and that is that. Monday may show a shock response on Monday but trading ha been volatile already. The Asian markets open early on Monday and will be viewed with interest. The two threats exist of interest rate hikes and recession. Interest rates are likely to go up and so will domestic loan repayments. The good thing is that the news broke at the weekend so the negative kneejerk response in the markets has probably been reduced.

The Dollar has been a safe haven for currency for decades. This will be another step towards the possibility of a basket of currencies replacing the greenback.

For decades jobs have left America and it is the American shareholders that has voted in favour of chasing profits even when the jobs go overseas.

The simple fact is what is to be done and who would have the cojones to do it?

T

reply to post by beezzer
oh oh i got this one if your smart decrease, but then we don't have a smart one as pres, or sen or house, therefore we spend spend spend, til we lose AA+ and go AA-, Bo got to have his Health care, Bo got to have his TSA/DHS BO got to have, have, have, not save save save.

Originally posted by skepticconwatcher
I blame Bush and all the greedy racist people in this nation. Just could NOT let Obama save the economy. They deserve everything that get now. Who has the credit cards and the house mortgages ?

Guess who will be paying higher interests rates now ? I said it before I will say it again. When you ignore the plight of others who you think are beneath you, you are only making yourself to suffer. Some people thought they were untouchable and now look at us.

We're all in trouble now.

we have been in trouble for a while, this is not new.

What is new is the public awareness. The OMG SHTF is forever etched inb the history book today.

before today it was just speculation on what day the entry would go in the book.

Funny really, just as the first pix of elenin come through.

Just saying.

reply to post by David9176

And above all.....you were the one Supporting tea party Republicans who were threatening default just DAYS AGO...which would have lowered our credit rating as well. Remember..."It's all about values and principles?" That's what you you stated to me a few days ago or something to that effect.

A default would not have happened. The U.S. budget priorities require that revenues go toward paying back public debts before any other mandatory or discretionary spending.

All it would have done is make us have to *gasp* spend no more than we take in. What a friggin' novel concept! I know... I'm crazy - we're all crazy for suggesting we spend within our means!

That means -huge- spending overhauls to medicare, cuts and overhauls to the military budget, and kicking the "income security" bull-crap out. It means really figuring out what we want our federal government to do rather than simply saying "Eh, just increase the debt ceiling - then everyone can have what they want."

He wanted tax increases...he caved...and compromised. It doesn't take a GD Obama supporter to see what happened.

You're obviously not very well informed. The -entire- U.S. budget (including social security - which is a completely separate institution from the Congressional Budget, even though it is included for some odd reason or another) was something like 4.2 billion dollars. The entire projected revenues for the year were in the range of 2.8 billion dollars. That's about 1.4 billion dollars in deficit spending - a 50% increase to the necessary revenue to handle the added spending.

You want to raise tax revenue to cover our deficit spending? You and WHAT army? We in the military pay federal income tax, as well - and have families that we'd rather not see taxed into oblivion. You're not getting a 50% increase in tax revenue out of the American population. Simply not going to happen. You'll have states filling for secession by the end of the week and ratifying it by the close of business that day.

for your information

stupid doesnt have a race

stupid doesnt have a party idetntification

stupid doesnt have a party ideology

and this country has been stupid since 1935

reply to post by beezzer

YUP. I wanted a default. I wanted no new spending. Damned straight. Let me ask you something? In light of the recent ratings drop, do we; 1. Increase spending? or 2. Decrease spending? Careful how you answer.

Careful how I answer?

Decrease spending? Sure....when it comes to 2 damned wars we are in that aren't being payed for or our endless military presence around the world...absolutely.....taxpayer subsidies need to be ended, corporate loopholes need to be closed.

BUT....

Cutting programs that help the middle class, elderly, and poor.....NO. Doing that is not only immoral, but completely destructive to our economy.

But, most of all, our trade policies have to change and tariffs need to be increased to create job demand in the united states.

That is the true problem....it's jobs. The less people that have them....the fewer that are paying taxes and the lower their spending power is.

If people at the middle and the bottom don't have money our system will collapse.....it's not going to matter what the credit rating is.

reply to post by burdman30ott6


This is the same organization that gave AAA ratings to CDO's including sub-prime mortgages and toxic loans. Their ratings are worthless in reality. But, we live in a world of appearance and the media will display this as America losing ground. Of course we lost all ground years ago and are forced to watch the slow crumbling of the American economy. Real financial reform is a joke and it will remain so. That is the plan. The AAA rating is nothing more than a media story that will probably have many days worth of traction.

An appropriate quote: "For the great majority of mankind are satisfied with appearances, as though they were realities and are often more influenced by the things that seem than by those that are." - Machiavelli

reply to post by guessing


Wait wait wait what ? The first picks of .....okay, I don't want to get off the subject and get in trouble by the mods, but you need to show me those pics you are talking about.

You know, the ones of the charts about out AAA rating dropping to AA *cough* (elinin) *cough* pics.

reply to post by David9176


This will force a decrease in spending. Since we couldn't trust government to do it on their own, an outside agency HAD to step in.

If the government does not stop their spending, then this will be proof that they (pols) want the country to fail.

reply to post by neo96


Funny you mention 1935. Isn't that about the time America invited Nazi Scientists over to help us build our rockets and do genetics and practice medicine and stuff in our country? Yep, I say that's about the time the day we cursed ourselves.

Originally posted by Ghost of America
reply to post by burdman30ott6

 

This is the same organization that gave AAA ratings to CDO's including sub-prime mortgages and toxic loans. Their ratings are worthless in reality.

edit on 6-8-2011 by Ghost of America because: (no reason given)

edit on 6-8-2011 by Ghost of America because: (no reason given)

Tell that to the people who have to pay higher interest and an increase in the cost of living.

Tell them its an illusion. Tell them they are just dreaming when they are starving, cold, and homeless.

In your reality it does not matter, but in the real world it matters very much

reply to post by Ghost of America



Well if S&P ratings are worthless interest rates will not be rising shortly nor shap the hiring rates drop. All that is lef tis to bulk up the army and cut, cut and cut some more. I would change the US foreign policy to stop the wars and reduce the army but TPTB need protection from the electorate who will be furious as their declining standard of living.