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Author Topic: S&P Affirms US AAA Rating, Cuts Outlook to Negative  (Read 2358 times)

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Offline BlueStateSaint

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S&P Affirms US AAA Rating, Cuts Outlook to Negative
« on: April 18, 2011, 09:33:39 AM »
The Dow dropped 200 points almost immediately.


S&P Affirms US AAA Rating, Cuts Outlook to Negative



Published: Monday, 18 Apr 2011 | 10:22 AM ET Text Size By: Reuters with CNBC.com

Standard & Poor's on Monday downgraded the outlook for the United States to negative, saying it believes there's a risk U.S. policymakers may not reach agreement on how to address the country's long-term fiscal pressures.

"Because the U.S. has, relative to its 'AAA' peers, what we consider to be very large budget deficits and rising government indebtedness and the path to addressing these is not clear to us, we have revised our outlook on the long-term rating to negative from stable," the agency said in a statement.

In an interview with CNBC, David Beers, S&P's global head of sovereign ratings, said the agency has been "struck increasingly by the difference in how other governments are dealing with fiscal consolidation."

"The U.S. to us looks to be an increasing outlier in that context," Beers added.

The U.S. dollar fell broadly on word of the revision. Gold prices hit a new record above $1,496 an ounce, while the Dow Jones Industrial Average tumbled more than 200 points.



How's that Hope'N'Change working out, DUmb**** lurkers?

http://www.cnbc.com/id/42643384

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Offline NHSparky

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Re: S&P Affirms US AAA Rating, Cuts Outlook to Negative
« Reply #1 on: April 18, 2011, 10:27:49 AM »
Someone wanna remind me when the last time this happened?

Oh, and first ****er that says, "Bush economy" when trying to explain this gets throat-punched.

Welcome back to stagflation, boys and girls.  This is gonna make the late-70's/early-80's look like a cakewalk.
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Offline true_blood

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Re: S&P Affirms US AAA Rating, Cuts Outlook to Negative
« Reply #2 on: April 18, 2011, 07:30:12 PM »
Quote
In an interview with CNBC, David Beers, S&P's global head of sovereign ratings, said the agency has been "struck increasingly by the difference in how other governments are dealing with fiscal consolidation."
"The U.S. to us looks to be an increasing outlier in that context," Beers added. The U.S. dollar fell broadly on word of the revision. Gold prices hit a new record above $1,496 an ounce, while the Dow Jones Industrial Average tumbled more than 200 points.
The part in red worries me immensely and pisses me off as well. :argh: :argh:
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Offline 5412

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Re: S&P Affirms US AAA Rating, Cuts Outlook to Negative
« Reply #3 on: April 18, 2011, 08:25:09 PM »
Quote from: true_blood on April 18, 2011, 07:30:12 PM
The part in red worries me immensely and pisses me off as well. :argh: :argh:

Hi,

S&P is not the problem as you well know.  They are only stating the obvious.  When QEII ends in the summer and the fed tries to sell their treasuries on the open market watch for a huge jump in interest rates.

It is going to get very, very ugly, starting with $5.00+ gas.

regards,
5412
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Offline true_blood

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Re: S&P Affirms US AAA Rating, Cuts Outlook to Negative
« Reply #4 on: April 19, 2011, 07:50:35 PM »
Quote from: 5412 on April 18, 2011, 08:25:09 PM
Hi,

S&P is not the problem as you well know.  They are only stating the obvious.  When QEII ends in the summer and the fed tries to sell their treasuries on the open market watch for a huge jump in interest rates.

It is going to get very, very ugly, starting with $5.00+ gas.

regards,
5412
I truly agree. Starting with gas prices, it will go downhill from there with interest rates on the rise. Combine your high unemployment, the amount of banks closing down, and the price of food. Unemployment will remain the same or even tick up a couple of notches with a economy suffering from these problems.
What good has the imposter done for this Country again?!?! :argh: :argh:
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Offline thundley4

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Re: S&P Affirms US AAA Rating, Cuts Outlook to Negative
« Reply #5 on: April 19, 2011, 07:52:28 PM »
Quote from: true_blood on April 19, 2011, 07:50:35 PM
I truly agree. Starting with gas prices, it will go downhill from there with interest rates on the rise. Combine your high unemployment, the amount of banks closing down, and the price of food. Unemployment will remain the same or even tick up a couple of notches with a economy suffering from these problems.
What good has the imposter done for this Country again?!?! :argh: :argh:

He's improved race relations as the first post-racial president.  Oh wait, no he hasn't, they're as bad or worse than ever.
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Offline true_blood

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Re: S&P Affirms US AAA Rating, Cuts Outlook to Negative
« Reply #6 on: April 19, 2011, 08:10:10 PM »
Quote from: thundley4 on April 19, 2011, 07:52:28 PM
He's improved race relations as the first post-racial president.  Oh wait, no he hasn't, they're as bad or worse than ever.
I would say WORSE than ever.
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Offline thelaughingman

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Re: S&P Affirms US AAA Rating, Cuts Outlook to Negative
« Reply #7 on: April 19, 2011, 09:31:11 PM »
One
Big
Ass
Mistake
America

^
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Understatement of the millennium.
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