S&P Cuts US Credit Rating to AA+

[moreluck]

OK, just across the wires...............S&S downgraded Fannie Mae & Freddie Mac.........................better late than never !!

 

[klein]

I never agree with Bob Beckel.......but today I think he had a good point.....................just how credible is the S&P?? They were gung ho on Freddie Mac and Fannie Mae.

Well, if you do a little self research, no other AAA rated country has over 100%, (as the US has), debt to GDP ratio, Luxembourg & Australia as low as 20 and 22%.
Also no other AAA country has a non functional, bi-partisan political house as the US currently does.
And thirdly, when a budget bill passes, no other AAA country, needs to debate and pass it again to raise their debt.

One example : Back in 1993 when Canada lost it's AAA rating, our debt to GDP ratio was at 72% (yes, high for those days), but not nearly the 100+% the US has now and counting. Estimated $7 more Trillion to be added in 10 years, which will add another 50%. (and that's if your lucky and the debt doesn't rise by more). - Hence the negative outlook S&P added to the AA+ rating !

 

[moreluck]

Well, if you do a little self research, no other AAA rated country has over 100%, (as the US has), debt to GDP ratio, Luxembourg & Australia as low as 20 and 22%.
Also no other AAA country has a non functional, bi-partisan political house as the US currently does.
And thirdly, when a budget bill passes, no other AAA country, needs to pass it again to raise their debt.

One example : Back in 1993 when Canada lost it's AAA rating, our debt to GDP ratio was at 72% (yes, high for those days), but not nearly the 100+% the US has now and counting. Estimated $7 more Trillion to be added in 10 years, which will add another 50%. (and that's if your lucky and the debt doesn't rise by more).

You did not answer the question.....all you talk about is the AAA rating. How credible is the S&P ??? You danced all around the question.
Pay attention and read slowly.....H-O-W
C-R-E-D-I-B-L-E
I-S
T-H-E
Standard & Poors Rating system ????

 

[moreluck]

 

[klein]

You did not answer the question.....all you talk about is the AAA rating. How credible is the S&P ??? You danced all around the question.
Pay attention and read slowly.....H-O-W
C-R-E-D-I-B-L-E
I-S
T-H-E
Standard & Poors Rating system ????

I gave you the reason !

ok, here is my answer - VERY CREDIBLE !!!!

Only 4 US companies have the AAA rating from S&P.
Those 4 are ADP, Exxon Mobile, Microsoft and Johnson&Johnson.

No google, nor Apple, or Ford, not even Kraft foods or Coca Cola.
You'ld think Coca Cola has their house more in order then the White House, wouldn't you ?

If you ask me, S&P was too lienient towards the US, and should have downgraded the rating much sooner.

 

[The Other Side]

You did not answer the question.....all you talk about is the AAA rating. How credible is the S&P ??? You danced all around the question.
Pay attention and read slowly.....H-O-W
C-R-E-D-I-B-L-E
I-S
T-H-E
Standard & Poors Rating system ????

Does it matter?

Today and the rest of this week your personal 401K if you have one will get hit hard. You will pay your share for supporting the action of the tea party republicans.

Whether or not S&P is credible is not even relevant to the situation. What is done is done. Now you pay. I think that makes it credible.

Peace

 

[moreluck]

Does it matter?

Today and the rest of this week your personal 401K if you have one will get hit hard. You will pay your share for supporting the action of the tea party republicans.

Whether or not S&P is credible is not even relevant to the situation. What is done is done. Now you pay. I think that makes it credible.

Peace

I truly believe in "consider the source" !!

 

[moreluck]

OK, just across the wires...............S&S downgraded Fannie Mae & Freddie Mac.........................better late than never !!

This action should've happened back when Bawney Fwank was saying how sound these two were........

 

[moreluck]

Does it matter?

Today and the rest of this week your personal 401K if you have one will get hit hard. You will pay your share for supporting the action of the tea party republicans.

Whether or not S&P is credible is not even relevant to the situation. What is done is done. Now you pay. I think that makes it credible.

Peace

Between you & K, I can't believe the glee and sheer joy you both take in impending disasters. I don't lose a thing unless I become a panic seller. The stock market is long term and it goes up and down all the time.

Whether S&P is relevent.....maybe not, but the one big thought is....this happened under Obama's watch. No one will remember who the minority, majority, main characters or any of the other players were. The blame is on O's shoulders.

 

[klein]

I'm pretty certain they will remember how raising the debt ceiling was held hostage by the Tea Party and Republicans, until the 10th hr !

We shall see if the likes of Bachmann are re-elected. Because, I doubt the American people will forget that quickly.

 

[Babagounj]

moreluck is correct.
This downgrade and continuing mess has happened on bhos watch, who has publicly said nothing about it.

After all it is bhos signature on the bill, that is now law.

 

[moreluck]

..."I doubt the American people will forget that quickly.............." (Klein)
You're absolutely correct.........America will remember OBAMA and his non-leadership for a long, long, long time to come!!

 

[klein]

We shall see come 2012, when all these statements from republicans and Tea partiers become commercials.
They will also see the likes of Bachmann on commercials that wanted the US to outright default instead of raising the debt ceiling.
The American people will then decide if they rather have cuts to SS and Medicare or rather get rid of the Bush tax cuts for the rich.
Simple as that !

The polls have already spoken that over 65% of the US population wanted a mix of cuts and tax hikes, but that landed on deaf ears on the right wing.

 

[The Other Side]

Despite the red on wall street, they just dont understand Klein.

I dont think they ever will. Unless they are told to believe it, they will live in denial.

peace.

 

[Babagounj]

tax hikes for all.
trying to play the tax the rich only game never works.
because those that make the rules in Congress are not poor.

 

[klein]

Despite the red on wall street, they just dont understand Klein.

I dont think they ever will. Unless they are told to believe it, they will live in denial.

peace.

Maybe Moreluck will see it when she gets a new pension statement that it will be lowered. Even though she may not have to cash out her own 401K and other equalities she may have, but the Teamsters Pension Plan needs to cash out to pay their pensions !

Nothing new to get revised pension statements, there will be another one in the mail soon.

 

[klein]

tax hikes for all.
trying to play the tax the rich only game never works.
because those that make the rules in Congress are not poor.

And you are probably dead right - getting rid of ALL Bush tax cuts probably would save 10 Trillion over a 10 year period, and not just $1 Trillion from the rich.

 

[brett636]

tax hikes for all.
trying to play the tax the rich only game never works.
because those that make the rules in Congress are not poor.

The very reason we have an income tax today is that it was sold on the notion that it would only affect the very rich. Now it touches just about everyone who makes a solid middle class income.

 

[moreluck]

And you are probably dead right - getting rid of ALL Bush tax cuts probably would save 10 Trillion over a 10 year period, and not just $1 Trillion from the rich.

They expire in like 2013, so quit pitching it !! You're a one song album!!

 

[Lue C Fur]

Hey look...Obama opens his yapper and the market tanks 100 points immediatly....450points down. The Messiah keeps talking about spending more money...not cutting. He wants to spend more on construction projects and extend unemployment insurance. Just keep everyone sucking off the goverment teet...keep them dependent on the goverment.