SP Warning to US

M

msdw24

1,000+ Posts
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Didn't see any previous posts to this so here it is.

Why the US hasn't been downgraded already is beyond me. We have seriously got to fix our debt problem like NOW. Cutting the defict and spending levels have to be done like yesterday. We have to limit our debt and that means NOT raising the debt ceiling, cutting our expenses and really looking at Social inSecurity, medicare, medicade, defense spending and everything else.
 
Sadly S&P gave us two more years to show progress, which puts it past the election cycle. So, there will be posturing and hot air and probably no real action.

Also, I heard that Brazil, Russia, India, China, and S. Africa got together over the weekend (in China) and agreed to start using their own currencies when trading with each other instead of the U.S. Dollar. Sounds like they're anticipating the dollar's collapse.
 
When the dollar does collapse and the shtf, i imagine there will be the usual suapects on here that will say its a shock and there was no warning, just like in 2008.
 
This isn't a warning to the US. The warning was given long ago and now this is the action they are taking. Politicians can no longer say that the US bonds are backed by the US AAA credit rating.
 
Republicans will soon come out in favor of an invasion of Standard and Poors, but only if we borrow the money to do it so that future generations pay for it.

Personally, I have no idea how big Standard and Poors' army is, but I think the U.S. can take them.
 
It's okay - Geithner said there's "no risk" of the US losing its AAA rating.

I guess somewhere in the last couple of years people pay attention to the ratings agencies again?

In all seriousness:

In reply to:
Click to expand...
 
larry- Sure we can, but everyone will stop borrowing from us if we do and we go broke anyway.
 
WaPo reports the Obama Admin tried to stop the S&P from lowering its outlook. I have no problem with them doing that.Any Admin would have.

but this from the link made me laugh
"Treasury officials told S&P analysts that they were underestimating the ability of politicians in Washington to fashion a compromise to curb deficits, a Treasury official said. They argued a change in ratings was not needed at this time because the debt was manageable and the administration had a viable plan in the works, the official said."

if they really told the people at S&P that no wonder the USA got downgraded to negative.


here is linkThe Link
 
Who told S&P? And why did they not tell them about all the rotten securities they were vetting a few years ago?

I don't disagree with what they have done, I just would like to see the ******** in prison for giving a pass on all the bad securities. That was supposed to be what they identified and they just took the money and looked the other direction.
 
Aww, clever way to downgrade a failing socialist's government, just call it "negative-A-A-A".

We are either at the end of this top heavy centralized socialist nonsense or at the beginning of a socialist dictatorship where market monetary currency gives way to state terror currency. Obama prefers the latter and calls the period of transition a "transformation".
 
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