well it happened anyway

[Trigger Mike]

tonight S & P downgraded US credit rating to AA-Plus, like they said they would even if we raised our debt limit but did not make REAL progress toward addressing our debt. Meanwhile in Italy the EU will buy Italian bonds to help them out as they promised to make cuts in social programs and pass a balanced budget amendment. Maybe we should learn from Italy.

[Boss Hoss Fly #63711]

tonight S & P downgraded US credit rating to AA-Plus, like they said they would even if we raised our debt limit but did not make REAL progress toward addressing our debt. Meanwhile in Italy the EU will buy Italian bonds to help them out as they promised to make cuts in social programs and pass a balanced budget amendment. Maybe we should learn from Italy.

 

Wud YOU loan us money?

[Trigger Mike]

Wud YOU loan us money?

not at current debt and prices for our bonds especially. A 30 year treasury today closed at $1,092 per bond that matures in 30 years at 1,000 and only pays 3.666% while you wait. somebody is going to lose money.

[Okie Sawbones, SASS #77381]

Watch the stock market on Monday...

[Yellowhouse Sam # 25171]

and watch gold shoot through the roof over the weekend.

[Aunt Jen]

Watch the stock market on Monday...

I think it'll tank.

[Apache Hawk 60642]

I don't get it...

 

 

The S&P is an American company, right ?

 

 

We all should know just how greedy the stock market and banks are...

 

 

So I don't understand....What's S&P's cut on this down grade ? :angry: :angry:

[Forty Rod SASS 3935]

I don't get it...

 

 

The S&P is an American company, right ?

 

 

We all should know just how greedy the stock market and banks are...

 

 

So I don't understand....What's S&P's cut on this down grade ? :angry: :angry:

 

Simply reporting what the numbers tell them, Hawk. I like it that way better than some made-up crap like the government hands out every day.

[Judge Roy Stone]

Very simple, the scales have shifted we have more takers and free grazers in our country than givers. Simply won't work

[Rye Miles #13621]

This is the first time in U. S. History that this has happened, not to get political but, nice job Barack!

[Utah Bob #35998]

This is the first time in U. S. History that this has happened, not to get political but, nice job Barack!

 

I'd like to blame it on him but there are a few hundred elected people in Congress who also need to shoulder the blame.

[Trigger Mike]

I'd like to blame it on him but there are a few hundred elected people in Congress who also need to shoulder the blame.

maybe we need term limits, you get 1 term in the senate and 2 in the house and that's it. you get the average salary of the average worker in your state as does the president get the average salary from across the country and maybe he should get 1 term as well. if you fail to pass a balanced budget you get impeached and if you spend more than you take it you get run out on a rail.

[T. H. O' Sullivan]

Nero fiddled while Rome burned....BHO was doing a rap at his Hip Hop Birthday Barbeque last night when the down grade was announced.

 

 

T.H. O'Sullivan

Black Mesa Ranch

New Mexico

[J-BAR #18287]

Before this gets pulled, I think the President is accomplishing exactly what he wanted to accomplish. Don't expect any changes in his philosophy.

[Forty Rod SASS 3935]

maybe we need term limits, you get 1 term in the senate and 2 in the house and that's it. you get the average salary of the average worker in your state as does the president get the average salary from across the country and maybe he should get 1 term as well. if you fail to pass a balanced budget you get impeached and if you spend more than you take it you get run out on a rail.

 

And which members of congress will you get to put this into effect? The ones who have a vested interest in the way it is or the ones who want to stay long enough to be vested?

[The Shoer 27979]

maybe we need term limits, you get 1 term in the senate and 2 in the house and that's it. you get the average salary of the average worker in your state as does the president get the average salary from across the country and maybe he should get 1 term as well. if you fail to pass a balanced budget you get impeached and if you spend more than you take it you get run out on a rail.

 

You forgot 1 term in the gray bar Hotel

[Crossfire Brown]

Very simple, the scales have shifted we have more takers and free grazers in our country than givers. Simply won't work

 

+1

 

It is time for some serious cutting and eliminate a lot of the free grazing.

 

CB

[Aunt Jen]

Before this gets pulled, I think the President is accomplishing exactly what he wanted to accomplish. Don't expect any changes in his philosophy.

I think the run-up of the first 8 years of this millennium were due a lack of regulations (in spite of Sarb-Ox), and Obama is trying to regulate better (Dodd-Frank), yet even while I think erring too much toward his idealism, he's trying to compromise where he has to, with a republican House, to do what he can.

 

I am not a politician, but I do believe there is NO way for anyone to do what they really want in politics. There are tooooo many minds at work, too many things people want to do.

 

Like Robert Heinlein says (paraphrased) in Podkayne of Mars: ...as messy as politics is, it's a way we can get things without violence... the old Senator. I forget his name.

 

I really think there's blame to go around, but that it's through concerted deliberations and compromises that we (hopefully) grow toward what may be best for a very large and very diverse populace, such as we are.

 

Sometimes we screw up, however. Like I think we are with our Federal fiscal fiascoes, as well as state and local, often.

 

I hope we get it together before we fizzle.

[Dakota Rebel, SASS# 58412]

We haven't been behaving like a country that deservesa AAA rating, and now we don't have one. We got spanked and sent to the corner.

[Aunt Jen]

We haven't been behaving like a country that deservesa AAA rating, and now we don't have one. We got spanked and sent to the corner.

Yes.

[Rye Miles #13621]

I'd like to blame it on him but there are a few hundred elected people in Congress who also need to shoulder the blame.

 

I agree that congress has alot to do with it but when George W. was prez he was blamed for everything so it's now on this current prez. The "buck" stops at the big house. Rye

[Brother King, SASS #69031]

Markets are often counter intuitive. US Treasuries are up this morning- that means that interest rates went DOWN not UP. Oil has come down from 116 to 82 and all commodities, except gold and silver, have collapsed since then as well; particularly cotton and the whole grain complex.

 

Make no mistake, we are in a deflationary depression, and now it is even in spades since the government is not increasing spending. Not saying that they should, in fact, they can't.. just saying that reducing spending will contribute to the spiral. I've written about it a couple of times Machiavelli's Window Both PAX AMERICANA and particularly THE BEND IN THE END

 

"there is no means of avoiding the fiscal collapse of a boom brought about by credit expansion." Ludwig von Mises

 

Little did he know that Freddie and Fannie were to be born, making his prediction to be carried out on steroids...............

[Hacker, SASS #55963]

Lest we forget, it is obama that is following the plan set forth by Cloward and Piven.

 

Cloward-Piven Strategy

 

We are cursed with petty bickering by a bunch of morons in washington that cannot agree on anything.

And the people at the polling places that are not smart enough to evaluate the motivations of candidate congressmen who can thing and act rationally.

With a two party system we have no real chance of every crawling out of this mess.

[Gunner Gatlin, SASS 10274L]

Nero fiddled while Rome burned....BHO was doing a rap at his Hip Hop Birthday Barbeque last night when the down grade was announced.

 

 

T.H. O'Sullivan

Black Mesa Ranch

New Mexico

 

It wasn;t this one was it - sorry, just tryin' find a scrap of humor in this....

 

 

 

GG ~

[Buffalo Creek Law Dog]

One headline up here was, "U.S. imploding?" Hope not!

[Trigger Mike]

the down grade by one credit agency does not justify the 600 point drop in the markets. Italy announced they are going to pass a balanced budget amendment so the European Central bank said it will buy Italian debt and spanish as well. If folks don't get ahold of themselves they can cause a deeper problem. The hedge funds and big traders will eventually start buying again. With a 1400 drop in the last few days they can't help themselves. With Lockheed Martin(LMT) paying 4.35% dividend and a 30 year US treasury paying 3.65% US treasuries will finally sell and stocks will raise. Isn't it strange that our bonds went up in value and not down today. This tells me the problems are not really related to the down grade. Over the last few years 11 countries have had the AAA rating cut and that nations stock market was up 17% in 10 of those nations.

[Brother King, SASS #69031]

Rick Santelli today on CNBC: "Blame the Tea Party? Geez, no wonder Kerry did so well in an election. If it wasn't for the Tea Party, they would have passed the debt ceiling thumbs up, we would have been rated BBB."

[Rye Miles #13621]

Rick Santelli today on CNBC: "Blame the Tea Party? Geez, no wonder Kerry did so well in an election. If it wasn't for the Tea Party, they would have passed the debt ceiling thumbs up, we would have been rated BBB."

 

 

Yer right Brother, many on the left wanted to just raise the debt ceilng period including my congresswoman,

Marcia Fudge D-OH

[Whiskey Business]

Right now business is over regulated. Sarbanes Oxley has greatly increased the cost of doing business. Many public companies have delisted because of this.

 

The greediest institution to date is DC. Hands down.

 

The recent explosion of govt spending will be our downfall. From S&P's report:

 

"We lowered our long-term rating on the U.S. because we believe that the

prolonged controversy over raising the statutory debt ceiling and the related

fiscal policy debate indicate that further near-term progress containing the

growth in public spending, especially on entitlements, or on reaching an

agreement on raising revenues is less likely than we previously assumed and

will remain a contentious and fitful process. We also believe that the fiscal

consolidation plan that Congress and the Administration agreed to this week

falls short of the amount that we believe is necessary to stabilize the

general government debt burden by the middle of the decade."

 

Link to the report:

http://www.standardandpoors.com/servlet/BlobServer?blobheadername3=MDT-Type&blobcol=urldata&blobtable=MungoBlobs&blobheadervalue2=inline%3B+filename%3DUS_Downgraded_AA%2B.pdf&blobheadername2=Content-Disposition&blobheadervalue1=application%2Fpdf&blobkey=id&blobheadername1=content-type&blobwhere=1243942957443&blobheadervalue3=UTF-8

[Gunner Gatlin, SASS 10274L]

Rick Santelli today on CNBC: "Blame the Tea Party? Geez, no wonder Kerry did so well in an election. If it wasn't for the Tea Party, they would have passed the debt ceiling thumbs up, we would have been rated BBB."

 

Yup...

 

http://www.newsbusters.org/blogs/noel-sheppard/2011/08/08/rick-santelli-if-it-wasnt-tea-partywe-would-have-been-rated-bbb

 

GG ~