S&P downgrade is a non-event people

[Freeper]

scheming daemons Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Fri Aug-05-11 10:39 PM
Original message
S&P downgrade is a non-event people
   

A) The other two ratings agencies still have the country at AAA

B) S&P's $2 trillion math error is getting major play, and by Monday, don't be surprised if S&P reneges and keeps the rating AAA.

C) Even if S&P doesn't fix their mistake, with a whole weekend to hear about it, markets will take into account S&P's mistake.


The financial impact of this will be very minor, if at all.


The political impact will be based on how well the WH and Dems can out-spin Fox News and the like. The S&P report makes it clear that the reason for the downgrade is the failure to let the Bush tax cuts expire. We need to make sure the world hears that... over and over and over and over again.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1674796

Silly me, I thought this was all about us spending way too much money for years and years, when it turns out if only we raise taxes on everyone that we can continue to spend like drunken sailors and everything will be fine.

 

flamingdem (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Fri Aug-05-11 10:42 PM
Response to Original message
3. It's going to be one spinning weekend that's for sure
   
Romney already blaming it on Obama ..

And 0bama is blaming it on Bush.

[WinOne4TheGipper]

Alright.  Fess up.  Which one of you encouraged Baghdad Bob to sign up at the DUmp?

[Freeper]

Alright.  Fess up.  Which one of you encouraged Baghdad Bob to sign up at the DUmp?

Hell Baghdad Bob was an honest man compared to these fools.

[USA4ME]

scheming daemons

The S&P report makes it clear that the reason for the downgrade is the failure to let the Bush tax cuts expire.

 

The lies they have to tell themselves in order to not muddy their little world.

Of course, it hardly matters what the primitives opinion, or liberals in general, is on this since they don't have enough $$$ collectively to effect the market.

At this point, it doesn't really matter where the agencies rate US Bonds, it how they're viewed.  The message has been sent that we either lower our spending or, like the countries in Europe where the IMF have had to step in, we'll be told what's acceptable expendatures in order to not fall down the black hole, and it's going to mean major cuts to Social Security and Medicare.  There's nothing the screaming deamon primitive can do about that.

.

[FlippyDoo]

Alright.  Fess up.  Which one of you encouraged Baghdad Bob to sign up at the DUmp?

I actually had a fellow fictional spirit-guide ask Baghdad Bob what he thought of all of this. Baghdad Bob dictated a letter that he'd like everyone here to read.

Greeting members here at this place. I come today to visit you at this cave of conservatives to tell you truth as I know it. These people at the DU are good people. Any one say otherwise I show you the sole of my shoe. These, how you say, DUers are working hard people. Always looking for jobs to do. So full of truth they most nearly bounce. Anyone speaks otherwise lies. Some would say these members of DU hate the America. I tell you true this is not right. You can believe what I say. Very smart are these people. If say they that spending bazillions more dollars than you have is great then great it is. S&P matters little. Much as these fine minded DU people say. This Bama Barry Sotero fellow presidents you well. Again correctness is with the DU group. Other presidents may think economy is a thing of importance. Your president knows that nothing is as important as lavishness type meals and parties. He parties and eats well for the benefit of you people. If this statement had falsehoods I would boldly tell you. If you people at this cave think spending much more than you have is bad thing you are brain dead like desert rock and not smart like the DU. The credit rating is not a downgrade. You have been informed falsely. The rating you have been given is an upgrade. The truth do I speak to you here today. Before you only had three A's. Today thanks to the greatness of the one known as the One you still have A's numbering two and on top of this you now have a wonderful 'plus'. The 'plus' is for greatness beyond the imagining. Any words other than these are not of the truth. The sole of my shoe to the face of any who says different. I leave you at this cave of conservatives with these final words. Listen to the community of the reality based members at the DU. Much wisdom they have in white light, sage, and other important things. The orangeness of their fingers shows their greatness. Good bye and well wishes.

The courier of truth,
Bob

[GOBUCKS]

S&P downgrade is a non-event people

He may be right, but can you imagine the DUmp meltdown if this happened with a repuke in the White House?

[AllosaursRus]

Holy crap! +100 5's with only 79 posts! I bow to your exceptional wit, Flippy!

Where the hell ya been? Good ta see ya hangin' out in the slums!

[bijou]

I actually had a fellow fictional spirit-guide ask Baghdad Bob what he thought of all of this. Baghdad Bob dictated a letter that he'd like everyone here to read.

Greeting members here at this place. I come today to visit you at this cave of conservatives to tell you truth as I know it. These people at the DU are good people. Any one say otherwise I show you the sole of my shoe. These, how you say, DUers are working hard people. Always looking for jobs to do. So full of truth they most nearly bounce. Anyone speaks otherwise lies. Some would say these members of DU hate the America. I tell you true this is not right. You can believe what I say. Very smart are these people. If say they that spending bazillions more dollars than you have is great then great it is. S&P matters little. Much as these fine minded DU people say. This Bama Barry Sotero fellow presidents you well. Again correctness is with the DU group. Other presidents may think economy is a thing of importance. Your president knows that nothing is as important as lavishness type meals and parties. He parties and eats well for the benefit of you people. If this statement had falsehoods I would boldly tell you. If you people at this cave think spending much more than you have is bad thing you are brain dead like desert rock and not smart like the DU. The credit rating is not a downgrade. You have been informed falsely. The rating you have been given is an upgrade. The truth do I speak to you here today. Before you only had three A's. Today thanks to the greatness of the one known as the One you still have A's numbering two and on top of this you now have a wonderful 'plus'. The 'plus' is for greatness beyond the imagining. Any words other than these are not of the truth. The sole of my shoe to the face of any who says different. I leave you at this cave of conservatives with these final words. Listen to the community of the reality based members at the DU. Much wisdom they have in white light, sage, and other important things. The orangeness of their fingers shows their greatness. Good bye and well wishes.

The courier of truth,
Bob

Hahaha H5!

[BlueStateSaint]

Hahaha H5!

Piling on this one.  Definite H5.