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Thread: USA's Credit Rating Downgrade

  1. #11
    Senior Member Franco's Avatar
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    Ten days ago, the Dems and the Treasury Secretary were telling us that a Credit Downgrade would be armagedden.

    How much does anyone bet that business will be as usual next week in DC? The Dems won't address any crucial opportunites for cuts and the Repubs will continue to fight against the government taking more of the people's money.

    Poor spending restraints over the last 10 years enabled by the Federal Reserve is the culprit!
    Last edited by Franco; 08-06-2011 at 07:10 PM.
    It's time we abandon our party affiliations and rather than being good Dems or good Repubs we all become good Americans. MJH345

  2. #12
    Senior Member K G's Avatar
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    Asian indexes were down Friday but that was expected. Dow futures are mixed; DJIA is up, NASDAQ is down.

    All the spin on the Sunday news shows will be worth watching. Monday morning at 9:30am est should be interesting...

    k g
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  3. #13
    Senior Member Uncle Bill's Avatar
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    Quote Originally Posted by K G View Post
    Asian indexes were down Friday but that was expected. Dow futures are mixed; DJIA is up, NASDAQ is down.

    All the spin on the Sunday news shows will be worth watching. Monday morning at 9:30am est should be interesting...

    k g

    It might even start Sunday eve with the futures and overseas stuff, Ken. I'm unsure if last week was the 'factoring in' week, or there is more to come starting tomorrow. Whatever, I doubt the "markets" are in for any surprises...I think they saw it coming.

    I just wish ONE of these talking heads would explain to the sheeple that the "cuts" Washington is so proud of, are once again REDUCTIONS IN SPENDING GROWTH. I get so dayumed tired of talking to someone that thinks we are reducing our dept, when all we are doing is slowing the growth of it.

    UB
    When the one you love becomes a memory, that memory becomes a treasure.

  4. #14
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    Quote Originally Posted by Uncle Bill View Post
    It might even start Sunday eve with the futures and overseas stuff, Ken. I'm unsure if last week was the 'factoring in' week, or there is more to come starting tomorrow. Whatever, I doubt the "markets" are in for any surprises...I think they saw it coming.

    I just wish ONE of these talking heads would explain to the sheeple that the "cuts" Washington is so proud of, are once again REDUCTIONS IN SPENDING GROWTH. I get so dayumed tired of talking to someone that thinks we are reducing our dept, when all we are doing is slowing the growth of it.

    UB
    Yep and they are slowing the growth of Gov. to 7% per year!!!! Well bully for them.

  5. #15
    Senior Member Uncle Bill's Avatar
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    More of the same.

    S&P Warns Of Second Downgrade To National Credit Rating If Spending Cuts Aren’t Made

    Rob PortAugust 6, 2011


    Can we admit now that the liberal talking point about needing to raise the debt cap in order to bring certainty to our markets and indicate that we wouldn’t be defaulting on the national debt has been utterly destroyed?

    Our “full faith and credit” wasn’t going to be destroyed by not raising the debt ceiling. It’s being destroyed by run-away deficit spending.
    One day after lowering the nation’s platinum triple-A credit rating, Standard & Poor’s analysts warned Saturday that the U.S. government could face a second downgrade if the economy continues to struggle and the government fails to make the cuts outlined in the debt ceiling agreement.

    The ratings agency on Friday downgraded the nation to AA+ for the first time in history, saying partisanship in Washington is preventing dramatic deficit reduction.

    S&P managing director John Chambers told reporters on a Saturday conference call that the toxic mix of a listless economy and political infighting will cause government debt to grow.

    “Compared to some other highly rated governments, the U.S. government does not have the proactive ability to put public finances on a firm footing,” Chambers said.
    In other words, we’re still not serious about getting spending in line.
    The only solution is cuts.
    When the one you love becomes a memory, that memory becomes a treasure.

  6. #16
    Senior Member Buzz's Avatar
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    If S&P wanted to embarrass themselves, they could not have come up with a better time to downgrade US Treasuries.


    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

    Raven - Moneybird's Black Magic Marker***
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  7. #17
    Senior Member Buzz's Avatar
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    Treasury Real Interest rates now negative out to 10 years.

    "For everyone to whom much is given, of him shall much be required." -- Luke 12:48

    Raven - Moneybird's Black Magic Marker***
    (Esprit's Power Play x Trumarc's Lean Cuisine)
    Mick - Moneybird's Jumpin' Jack Flash***
    (Clubmead's Road Warrior x Oakdale Whitewater Devil Dog)
    Peerless - Moneybird's Sole Survivor
    (Two River's Lucky Willie x Moneybird's Black Magic Marker)

  8. #18
    Member steve hoppas's Avatar
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    The real problem is that we are giving people an incentive not to work, they should take away food stamps and welfare from people that are not working at all and only give it to people willing to work full time yet they are still poor. Not he lazy people sitting on their rear with both hands in the pot. Plus how can we justify sending Billions overseas in aid? Thats like giving the bum on the corner $100 while they are repossessing your house. It's not smart for you to do it, and it's smart for the Government to do it either.

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