#Login Register


  • 0 Vote(s) - 0 Average
Home 


and so it begins s&p downgrades u.s credit rating
08-06-2011, 08:22 AM #1
Ghostie Member
Posts:1,074 Threads:212 Joined:Mar 2011
By Jim Puzzanghera, Los Angeles Times

August 6, 2011
Reporting from Washington—
Standard & Poor's downgraded the U.S. government's credit rating Friday for the first time in history, saying the recent plan worked out to raise the federal debt ceiling "falls short" of what's needed to stabilize the nation's longer-term finances.

The credit rating agency also said the partisan stalemate that put the U.S. on the brink of default this week did not bode well for efforts to reduce the nation's soaring debt.

"The political brinkmanship of recent months highlights what we see as America's governance and policymaking becoming less stable, less effective and less predictable than what we previously believed," said S&P, one of three leading credit rating agencies.

"The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy."

U.S. debt now will carry a rating of AA-plus instead of the coveted AAA, dropping it into the same general category as countries such as Japan, China, Spain, Taiwan and Slovenia.

READ MORE HERE L.A TIMES LINKY
08-06-2011, 12:23 PM #2
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,567 Threads:1,444 Joined:Feb 2011
Everything Alabama told us would happen if a debt ceiling deal was not reached is beginning to happen anyway.
This was NOT about debt ceilings, this was power grab by 12 senators and ole whats his face to bypass the tea party, and anyone else that stood in the way of Washington spending billions on illegal unconstitutional and unpopular foreign wars.
This slavery we and generations to come have been saddled with is unsustainable, even if everyone in America was taxed at 100% the interest on the national debt could not be paid.
America is ğkking insolvent, and broke both in terms of economics and policy. This endless war on civil liberties...err..I mean terrorism has cost the US unimaginable amounts in terms of money and human life.
They want to cut all benefits for all citizens so they can funnel more funds into a phony war with pretend enemies while keeping the $3 billion in military aid for Israel in tact.
$3 billion the US does not have in the first place. rofl.gif This is not going to end well, soon this old song and dance will consume those who are involved in perpetrating these crimes against citizens of the US and world.
Somewhere along the line, there must and will be accountability. In all likelihood, the form it comes in will not be pretty. sad2.gif

wonder.gif
08-06-2011, 02:21 PM #3
Shadow Mrs. Buckwheat
Posts:12,777 Threads:1,182 Joined:Feb 2011
sad2.gif this is going to make it really difficult for people in debt. And hands the gobbermint an excuse to cut social services even more. The US$ will inflate, investors slow buying of treasuries that the gov relies heavily on and Bernanke will do what he does best. Print money. Man, there's a world of hurt coming for the US.
08-06-2011, 02:46 PM #4
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,567 Threads:1,444 Joined:Feb 2011
(08-06-2011, 02:21 PM)Shadow Wrote:  sad2.gif this is going to make it really difficult for people in debt. And hands the gobbermint an excuse to cut social services even more. The US$ will inflate, investors slow buying of treasuries that the gov relies heavily on and Bernanke will do what he does best. Print money. Man, there's a world of hurt coming for the US.

hug.gif Hey Shadow! Talk about hitting the nail on the head. I read this last night:

Goldman Downgrades US Economy, Sees One In Three Risk Of Recession, Expects Some QE3 Announcement Next Week..

http://www.zerohedge.com/news/capitulati...e-risk-rec

QE3 13.gif
Amazing how quantitative easing sounds better than "lets print more worthless money out of thin air."
QE3 is going to be akin to putting out a fire with jet fuel. shït's over with.

wonder.gif
08-06-2011, 02:50 PM #5
Shadow Mrs. Buckwheat
Posts:12,777 Threads:1,182 Joined:Feb 2011
hug.gif Hej JR, give your crazy wife a hug from me hug.gif

China was pissed enough over QE2, this'll make em go ballisitc. Trillions of worthless notes and they have their own troubled banks to deal with. Oh boy....
Anonymous Kritter Show this Post
08-06-2011, 03:24 PM #6
Anonymous Kritter Incognito Anonymous
 
Why does S&P hate America?

Don't they see, the boys in DC are doing their darnest to sort this out!

08-06-2011, 03:29 PM #7
Shadow Mrs. Buckwheat
Posts:12,777 Threads:1,182 Joined:Feb 2011
lol.gif
Anonymous Kritter Show this Post
08-06-2011, 03:50 PM #8
Anonymous Kritter Incognito Anonymous
 
İmage

Look, they got together without their ties on! and fixed the debt ceiling and this is how the S&P repays the President and the Speaker's tireless efforts to get the fiscal house in order.

President needs to take direct control of the S&P,through an executive order and put the fear of almighty god above into the ratings agencies.This is a Chinese power play, they have somehow pay off and infiltrated The McGraw-Hill Companies, board of directors at the S&P.

We need strong leadership, not to be fractured and divided by the Chinese. All members of the S&P board need to be investigated, by the senate. in the manner which McCarthy rooted out the red menace.

İmage
08-06-2011, 03:58 PM #9
Shadow Mrs. Buckwheat
Posts:12,777 Threads:1,182 Joined:Feb 2011
iagree.gif People seem to forget it was S&P that rated the toxic CDOs and SUVs as AAA securities and brought on this whole mess.
08-06-2011, 04:04 PM #10
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,567 Threads:1,444 Joined:Feb 2011
(08-06-2011, 03:50 PM)Anonymous Kritter Wrote:  We need strong leadership, not to be fractured and divided by the Chinese. All members of the S&P board need to be investigated, by the senate. in the manner which McCarthy rooted out the red menace.

Here here! cheers.gif Strong leadership is sorely lacking AK.

wonder.gif
08-06-2011, 05:48 PM #11
Kreeper Griobhtha
Posts:10,851 Threads:655 Joined:Feb 2011
Investigate the S&P? Why? When cops find out about a chop shop they don't investigate the screwdrivers. They are only tools. Above them are the mechanics, foremen, management and owners.


.

Politicians hide themselves away
They only started the war
Why should they go out to fight?
They leave that role to poor
08-06-2011, 06:01 PM #12
Kreeper Griobhtha
Posts:10,851 Threads:655 Joined:Feb 2011
Strong leaders, Congressional investigations, debt ceilings, bailouts...

All of it.

IT IS ALL CRAP.

IT IS A LIE.

THE CAKE IS A LIE.

Congress isn't investigating shït but they will spend millions of dollars not doing it. They will blow and bluster on tv. They will point fingers and toss blame. Our response will be to either re-elect them or replace them with more blow-up politicians. Nothing ever changes. It is not going to change. It's like putting a band-aid on your toe to cure clogged arteries. It is ridiculous.

Ron Paul is the only one talking about real change that would help. If he were to get elected, very few in Congress would cooperate and their masters would kill him. Change is not welcome. Just ask JFK.

We are losing the war and very few people even know there is a war. The rest still believe it is the other party.


gaah.gif

Politicians hide themselves away
They only started the war
Why should they go out to fight?
They leave that role to poor



Home 




 



DISCLAIMER / Terms of Service (TOS):
Kritterbox.com - Socialize anonymously, commentary, discussion, oddities, technology, music and more!  This website is provided "as is" without warranty of any kind, either expressed or implied. kritterbox.com shall not be liable for any damages whatsoever, including, without limitation, those resulting from loss of use, data or profits, whether or not advised of the possibility of damage, and on any theory of liability, arising out of or in connection with the use or performance of this site or other documents which are referenced by or linked to this site.
This website exists solely for the purposes of exchange of information, communication and general entertainment. Opinions from posters are in no way endorsed by kritterbox.com. All posts on this website are the opinion of the authors and are not to be taken as statements of fact on behalf of kritterbox.com. This site may contain coarse language or other material that kritterbox.com is in no way responsible for. Material deemed to be offensive or pornographic at the discretion of kritterbox.com shall be removed. kritterbox.com reserves the right to modify, or remove posts and user accounts on this website at our discretion. kritterbox.com disclaims all liability for damages incurred directly or indirectly as a result of any material on this website. Fictitious posts and any similarity to any person living or dead is coincidental.
All users shall limit the insertion of any and all copyrighted material to portions of the article that are relevant to the point being made, with no more than 50%, and preferably less of the original source material. A link shall be visible in text format, embedded directly to the original source material without exception.
No third party links, i.e. blogs or forums will be accepted under any circumstances, and will be edited by staff in order to reflect the original source of copyrighted material, or be removed at the sole discretion of kritterbox.com.
Fair Use Notice:
This site may contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. Users may make such material available in an effort to advance awareness and understanding of issues relating to economics, individual rights, international affairs, liberty, science, and technology. This constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C.Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for educational and/or research purposes.
This Disclaimer is subject to change at any time at our discretion.
Copyright © 2011 - 2017 kritterbox.com