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Offline Ptarmigan

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U.S. Faces First Downgrade on Debt, Slowdown: Moody’s
« on: August 02, 2011, 06:00:02 PM »
U.S. Faces First Downgrade on Debt, Slowdown: Moody’s
http://www.bloomberg.com/news/2011-08-02/u-s-aaa-rating-faces-moody-s-downgrade-on-debt-economic-slowdown-concern.html

Not surprised by it.
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Offline thundley4

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Re: U.S. Faces First Downgrade on Debt, Slowdown: Moody’s
« Reply #1 on: August 02, 2011, 06:03:46 PM »
It wasn't the default that was a big issue, but the growing debt with no end in sight.
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Offline zeitgeist

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Re: U.S. Faces First Downgrade on Debt, Slowdown: Moody’s
« Reply #2 on: August 02, 2011, 07:09:55 PM »
Quote from: thundley4 on August 02, 2011, 06:03:46 PM
It wasn't the default that was a big issue, but the growing debt with no end in sight.


Oh snap.  Now who will Obie and the DUmocrats blame (why Georgie Porgie Bush of course). Inherited the "worst economy ever, didn't know how bad things were...yada yada yada."

Why can't I spend more than I earn and have a triple A credit rating? 
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Offline longview

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Re: U.S. Faces First Downgrade on Debt, Slowdown: Moody’s
« Reply #3 on: August 02, 2011, 08:19:24 PM »
Quote from: zeitgeist on August 02, 2011, 07:09:55 PM
Why can't I spend more than I earn and have a triple A credit rating? 

You probably wouldn't want to, knowing that is unsustainable and will eventually bite you in your financial fanny.

I really wonder what the thinking of congress has been as they over spent the last several decades.  Can they be that stupid?
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Offline thundley4

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Re: U.S. Faces First Downgrade on Debt, Slowdown: Moody’s
« Reply #4 on: August 02, 2011, 08:28:53 PM »
Quote from: longview on August 02, 2011, 08:19:24 PM
You probably wouldn't want to, knowing that is unsustainable and will eventually bite you in your financial fanny.

I really wonder what the thinking of congress has been as they over spent the last several decades.  Can they be that stupid?

Yes, and no.  They believe that the public is that stupid, though.  Now that people are starting to wise up to the deficit problem, they make noise about a balanced budget amendment, but that isn't what we need.  We need an amendment forcing them to start paying down the debt.
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Offline redwhit

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Re: U.S. Faces First Downgrade on Debt, Slowdown: Moody’s
« Reply #5 on: August 02, 2011, 10:52:44 PM »
We're also gonna hear about how it's all the Tea Party's fault for ruining our credit rating.

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Offline Erasmus

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Re: U.S. Faces First Downgrade on Debt, Slowdown: Moody’s
« Reply #6 on: August 03, 2011, 08:08:48 AM »
We work heavily with the rating agencies and investment bankers in issuing bonds.  The sentiment is that the US debt will be downgraded within the next two years.  Another first for Obama and any US president.  This is fully expected by Wall Street.  After all, only Trivial Pursuit experts will remember who the Speaker of the House was 25 years from now.  But they'll know that Obama presided over the first downgrade of US debt.  Talk about a legacy.
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Offline Wineslob

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Re: U.S. Faces First Downgrade on Debt, Slowdown: Moody’s
« Reply #7 on: August 03, 2011, 09:25:46 AM »
Quote from: zeitgeist on August 02, 2011, 07:09:55 PM

Oh snap.  Now who will Obie and the DUmocrats blame (why Georgie Porgie Bush of course). Inherited the "worst economy ever, didn't know how bad things were...yada yada yada."

Why can't I spend more than I confiscate and have a triple A credit rating? 


FIXED
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Offline zeitgeist

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Re: U.S. Faces First Downgrade on Debt, Slowdown: Moody’s
« Reply #8 on: August 03, 2011, 05:07:31 PM »
Quote from: Wineslob on August 03, 2011, 09:25:46 AM

FIXED

What makes me truly sad is that the DUemoctratics really don't get it.  Just because a thing can be done doesn't mean it should be. ( ie: raising taxes ). ( a corollary to:  Not all change is progress(ive))

What we have is a spending problem.  Like an alkie congress is addicted to the buzz they get when the go home with the pork.  Once you kill the pigs they's all done makin bacon.
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Offline true_blood

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Re: U.S. Faces First Downgrade on Debt, Slowdown: Moody’s
« Reply #9 on: August 03, 2011, 07:57:21 PM »
After all, this is what the America haters want. Too downgrade/destroy America. None of the leftists talk about how much money the imposter in the white mosque has spend since he became the "supposed" POTUS. But, they were all over the right wing guys in the White House.
But, then again, those were the days of democrats and republicans. Now they are mostly communists and socialists.
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Offline Wineslob

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Re: U.S. Faces First Downgrade on Debt, Slowdown: Moody’s
« Reply #10 on: August 04, 2011, 09:18:41 AM »
Quote from: zeitgeist on August 03, 2011, 05:07:31 PM
What makes me truly sad is that the DUemoctratics really don't get it.  Just because a thing can be done doesn't mean it should be. ( ie: raising taxes ). ( a corollary to:  Not all change is progress(ive))

What we have is a spending problem.  Like an alkie congress is addicted to the buzz they get when the go home with the pork.  Once you kill the pigs they's all done makin bacon.


Yup, and you have to agree that Liberalism really is a mental diease.They have been doing the same thing for 50+ years and they STILL insist that "it'll work THIS time". Most Libbys I talk to honestly believe this tripe.
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“The national budget must be balanced. The public debt must be reduced; the arrogance of the authorities must be moderated and controlled. Payments to foreign governments must be reduced, if the nation doesn't want to go bankrupt. People must again learn to work, instead of living on public assistance.”

        -- Marcus Tullius Cicero, 55 BC (106-43 BC)

The unobtainable is unknown at Zombo.com



"Practice random violence and senseless acts of brutality"

If you want a gender neutral bathroom, go pee in the forest.

Offline Erasmus

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Re: U.S. Faces First Downgrade on Debt, Slowdown: Moody’s
« Reply #11 on: August 04, 2011, 02:01:14 PM »
Quote from: Wineslob on August 04, 2011, 09:18:41 AM

Yup, and you have to agree that Liberalism really is a mental diease.They have been doing the same thing for 50+ years and they STILL insist that "it'll work THIS time". Most Libbys I talk to honestly believe this tripe.

Yep, it's about like a high school janitor believing with all his heart that he knows how to defuse the nuclear warhead better than the bomb technicians.  Some things are and will always be over liberals' heads.
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Offline CG6468

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Re: U.S. Faces First Downgrade on Debt, Slowdown: Moody’s
« Reply #12 on: August 04, 2011, 02:25:30 PM »
Quote from: true_blood on August 03, 2011, 07:57:21 PM
After all, this is what the America haters want. Too downgrade/destroy America. None of the leftists talk about how much money the imposter in the white mosque has spend since he became the "supposed" POTUS. But, they were all over the right wing guys in the White House.
But, then again, those were the days of democrats and republicans. Now they are mostly communists and socialists.

Absolutely!
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Offline rich_t

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Re: U.S. Faces First Downgrade on Debt, Slowdown: Moody’s
« Reply #13 on: August 04, 2011, 03:38:38 PM »
Quote from: Erasmus on August 03, 2011, 08:08:48 AM
We work heavily with the rating agencies and investment bankers in issuing bonds.  The sentiment is that the US debt will be downgraded within the next two years.  Another first for Obama and any US president.  This is fully expected by Wall Street.  After all, only Trivial Pursuit experts will remember who the Speaker of the House was 25 years from now.  But they'll know that Obama presided over the first downgrade of US debt.  Talk about a legacy.

I'll be surprised if our credit rating is not downgraded within the next 2 months.
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Offline CG6468

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Re: U.S. Faces First Downgrade on Debt, Slowdown: Moody’s
« Reply #14 on: August 04, 2011, 03:46:19 PM »
Quote from: rich_t on August 04, 2011, 03:38:38 PM
I'll be surprised if our credit rating is not downgraded within the next 2 months.

Certainly by the end of the year.
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Offline Erasmus

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Re: U.S. Faces First Downgrade on Debt, Slowdown: Moody’s
« Reply #15 on: August 04, 2011, 03:50:20 PM »
Quote from: rich_t on August 04, 2011, 03:38:38 PM
I'll be surprised if our credit rating is not downgraded within the next 2 months.

Maybe after the super-secret-double-probation committee meets and fails to present any workable cuts to the rest of Congress.
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Offline rich_t

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Re: U.S. Faces First Downgrade on Debt, Slowdown: Moody’s
« Reply #16 on: August 04, 2011, 04:49:00 PM »
I'm afraid to look.  How bad did the stock market end up closing?  It was down over points earlier today.
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"The American people will never knowingly adopt socialism. But, under the name of 'liberalism,' they will adopt every fragment of the socialist program, until one day America will be a socialist nation, without knowing how it happened." --Norman Thomas, 1944

Offline true_blood

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Re: U.S. Faces First Downgrade on Debt, Slowdown: Moody’s
« Reply #17 on: August 04, 2011, 07:42:36 PM »
Quote from: rich_t on August 04, 2011, 04:49:00 PM
I'm afraid to look.  How bad did the stock market end up closing?  It was down over points earlier today.
It was real bad. The worse it's been since December of 2008.
Disgusting. Really disgusting. :argh: :argh:
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Offline Lacarnut

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Re: U.S. Faces First Downgrade on Debt, Slowdown: Moody’s
« Reply #18 on: August 04, 2011, 09:06:08 PM »
Quote from: rich_t on August 04, 2011, 04:49:00 PM
I'm afraid to look.  How bad did the stock market end up closing?  It was down over points earlier today.

512 points plus the China bond rating agency (Dagong Global) cut our rating from A+ to A. Not good since they own more of our debt than any other country. 
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