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Oops US credit rating gets downgraded.

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Oops US credit rating gets downgraded.

Postby Calmday » Sat, 06 Aug 2011 9:51 am

The rating agency's told the US government months ago that if they didn't cut at least 4 trillion that they would be downgraded. I guess the congress thought they were bluffing.

http://finance.yahoo.com/news/SampP-dow ... 20979.html

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Postby nakatago » Sat, 06 Aug 2011 10:08 am

It's the apocalypse!

The Daily Show's gonna have a field day with this.

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Postby Calmday » Sat, 06 Aug 2011 10:39 am

It might not be the apocalypse but it will definitely cause interest rates to go up in the US which in turn will hurt the economy worse than it already is.
If the US doesn’t get its fiscal house in order the world will pay.

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Postby nakatago » Sat, 06 Aug 2011 3:34 pm

The 24/7 news in the US has been hyping up the armageddon that a downgrade would introduce. Needless, it's hyperbole.

However, I did some further reading on this news. S&P is the same agency that said all those subprime mortgages before the recession were ok? And they downgraded the US's credit rating because it couldn't get its act together?

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Postby JR8 » Sat, 06 Aug 2011 5:47 pm

Downgraded and still on the negative watchlist.

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Postby sundaymorningstaple » Sat, 06 Aug 2011 7:03 pm

Yeah, they figger in 12-18 months things will really get down & brown.

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Postby JR8 » Sat, 06 Aug 2011 8:22 pm

Well there is no plan.

That's why S&P downgraded them.


p.s. Still, it's all the GOPs fault so that's ok lol

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Postby nakatago » Sat, 06 Aug 2011 8:40 pm

JR8 wrote:Well there is no plan.

That's why S&P downgraded them.


p.s. Still, it's all the GOPs fault so that's ok lol


You know what? I actually empathize with the GOP this time. I mean, they have to put up with those freshmen tea partiers. I felt sorry for John Boehner.

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Postby JR8 » Sat, 06 Aug 2011 8:53 pm

Backward thinking?

The citizens voted for these people to express their will.

All power to them.

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Postby nakatago » Sat, 06 Aug 2011 8:59 pm

JR8 wrote:Backward thinking?

The citizens voted for these people to express their will.

All power to them.


They get the government that they deserve and all that?

oy vey...

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Postby JR8 » Sat, 06 Aug 2011 10:20 pm

I see a schism forming between the people and the politicians.

Its transparent when times are good, but no longer.

Right now you have the will of the people, and the politicians simply off doing their own thing. It cannot go on for ever like this.

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Postby Calmday » Sat, 06 Aug 2011 10:26 pm

nakatago wrote:
JR8 wrote:Well there is no plan.

That's why S&P downgraded them.


p.s. Still, it's all the GOPs fault so that's ok lol


You know what? I actually empathize with the GOP this time. I mean, they have to put up with those freshmen tea partiers. I felt sorry for John Boehner.
Ya I know. Those wacky tea partiers trying to get the US gov to spend within their means. What the heck is wrong with those not jobs? Don’t they know that Uncle Sam can print all the money that he wants?

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Postby Tigerslayer » Sat, 06 Aug 2011 10:29 pm

I see a schism forming between the people and the politicians.

Its transparent when times are good, but no longer.

Right now you have the will of the people, and the politicians simply off doing their own thing. It cannot go on for ever like this.


Why not? It has been this way for years through good and bad. I don't see America following the footsteps of the Middle Eastern revolutions.

Americans seem to have the constitution and patriotism held so deeply that they will only go so far as express their opinions without truly enforcing any accountability.

Bush stayed in for a second term almost purely because Americans will not vote out a President during a wartime situation. This despite the fact he was clearly clueless.

When will the people truly act as one against a government system they hold so dear?

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Postby JR8 » Sat, 06 Aug 2011 10:40 pm

Tigerslayer wrote:
IBush stayed in for a second term almost purely because Americans will not vote out a President during a wartime situation. This despite the fact he was clearly clueless.

Oh yawn that's so schoolyard. I'm losing.... my will.. ... to ... ... .. live.....................



p.s. didn't you notice LBJ getting voted out?






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Postby Tigerslayer » Sat, 06 Aug 2011 10:50 pm

Schoolyard or not this is genuinely the reason several Republican voters gave me at the time.

Frankly can't see another reason for it to doubt them :P


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