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US Credit downgrade = Depression
Anonymous Kritter Show this Post
08-06-2011, 04:25 PM #1
Anonymous Kritter Incognito Anonymous
 
Higher car loan rates, higher credit card rates, higher student loan and higher small business loans and consumer mortgages. That is the result of a credit downgrade for the USA

The cost for the US to fund its capital will be higher and every single person on the planet is affected.

If capital funding costs more, then the follow on effect means everything costs more.

Small business lay off workers, who in turn can not afford to pay their higher mortgage and in turn are evicted. With no job and no home and no money to buy food, bread lines and soup kitchens feed the hungry and the homeless. Even those with a home use the soup kitchen as they can not stretch the dollar far enough to buy food.

The follow on effect is an economy that has no available money for spending and as such a chain reaction occurs as more people lose work and less money goes back into the economy.

The final result is a depression unlike anything ever experienced.

There is no way to prevent it. They have tried, they have failed.

Who is profiting from this?

Unemployment rates goes from 24 million to 50 million people?

this is not a fearmongering thread , this is just some thoughts.

If credit costs are higher everything is higher!
08-06-2011, 04:31 PM #2
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,580 Threads:1,443 Joined:Feb 2011
Nice post AK hi5.gif Thoughtful but IMO, depression has been here for quite some time. Terms like double dip and triple dip are more descriptive of ice cream cones than recession. Follow the money....
oh wait....
there is no money hmm.gif

wonder.gif
Anonymous Kritter Show this Post
08-06-2011, 04:38 PM #3
Anonymous Kritter Incognito Anonymous
 
wtf2.gif damn right, there is no money and the printing presses have barley cooled down from qe1 and 2.
wait till 3 kicks in, china's going to pwn our ass before this is over with.
08-06-2011, 04:39 PM #4
Shadow Mrs. Buckwheat
Posts:12,775 Threads:1,181 Joined:Feb 2011
= Austerity. Watch BO cut SS, unemployment benefits, medicare, food stamps and welfare. Not Pentagon spending or bank bailouts though. Stopping the ludicrous 'war on drugs' would save $40 billion/year but that isn't on the cutting table either. Firing 15% of gov employees would save $1.2 trillion/yr think it'll happen? Nope, gotta have those TSA goons groping kids and grannies.

coffeetime.gif
Anonymous Kritter Show this Post
08-06-2011, 04:52 PM #5
Anonymous Kritter Incognito Anonymous
 
right-o Shadow. trimming anything that could
affect the pentagon TSA DHS is out of the
question
only those who pay for the pentagon TSA DHS
will be
hurt

dig?
08-06-2011, 05:42 PM #6
Kreeper Griobhtha
Posts:10,849 Threads:655 Joined:Feb 2011
China pwn our ass?

Possibly. The thing about China is we had/have aspects of our economy that are bubbles. That is what lead to our issues today. On the other hand, China's entire economy is a bubble. It is fake. It is based on shortcuts and lies. They wear the facade of a well starched, proper, disciplined Communist government, but everything behind that mask is rotting. It's kind of like a Guy Fawkes mask on a zombie. (That's twice I have mentioned him this week. Hmmm...)

.

Politicians hide themselves away
They only started the war
Why should they go out to fight?
They leave that role to poor
08-07-2011, 01:48 PM #7
Ghostie Member
Posts:1,074 Threads:212 Joined:Mar 2011
Unemployment rates goes from 24 million to 50 million people?

that's more than the entire population of my country Canadadamned.gif13.gif



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