S&P Downgrades US Bond Rating From AAA status to AA+

**313WX** · August-05-11, 07:53 PM

Breaking news everywhere.

What's worse is we're going to have to wait 84 hours to see how this impacts everything.

**Red Devil** · August-05-11, 09:39 PM

Originally Posted by 313WX

Breaking news everywhere.

What's worse is we're going to have to wait 84 hours to see how this impacts everything.

Much ado about nothing.

lit joe · August-05-11, 10:17 PM

Welcome to the third world. Higher interest rate, mortgage rates. Not time to buy that new car. Thank you obama your plan worked. Are we still giving out that foreign aid?

thatguy123 · August-05-11, 10:52 PM

Originally Posted by lit joe

Welcome to the third world. Higher interest rate, mortgage rates. Not time to buy that new car. Thank you obama your plan worked. Are we still giving out that foreign aid?

Remember Barack Obama said we needed to force through the last minute bill [[that created the super congress) to save our AAA credit rating.

I am sure the blind as bats sheep Democrats that post here will think this is fine. Enjoy the stock market dives that took place the last 2 days. It can only get worse now.

**East Detroit** · August-05-11, 11:44 PM

Easy remedy.
Get out of the multiple foreign "wars" and stop borrowing money to fund them.
The difference would more than offset the higher interest rates.

**mjs** · August-06-11, 12:07 AM

Third world? High mortgage rates? Mortgage rates are at record lows as people escape stocks and foreign bonds and homes become even worse investments than usual. The 15 year mortgage went under 3.5% today and one bank has even started charging interest to some of their depositors. Everybody is hoarding cash for reasons they can feel but not fully put into words. Its because people remember how it felt to go into the last recession up to their eye balls in debt. Its because none of the idiotic policies created in the last decade have been fixed so its all certain to happen again. Its because governments have made rewarding the market losers a standard so people are losing interest in playing such a fundamentally unfair game.

The stock market drop is due to the Europeans having even crappier bonds than us and selling everything including the kitchen sink to keep Spain and Italy out of bankruptcy so they don't crash the international banking system. If US treasury rates go up and stay up next week, it will be because the IMF forced Italy into a balanced budget amendment as terms of a bailout package. Risk determines price and this rating change doesn't change the risk. In the end of the day, it boils down to a very small opinion change of just one organization.

It will be five to ten years before our debt destroys us and I make my killing on the insurance coverage.

**Zacha341** · August-06-11, 04:30 AM

Yep, and get rid of the porkulous spending rampant in this administration.

Originally Posted by East Detroit

Easy remedy.
Get out of the multiple foreign "wars" and stop borrowing money to fund them.
The difference would more than offset the higher interest rates.

**Zacha341** · August-06-11, 04:33 AM

Well, it's good to know we have some time left.......

Originally Posted by mjs

It will be five to ten years before our debt destroys us and I make my killing on the insurance coverage.

**Patrick** · August-06-11, 06:51 AM

S&P downgrades the United States' credit rating? Is this some sort of joke here? Isn't this is the SAME company that gave the Mortgage Backed Securities of the top financial institutions AAA Rating?

**Detroitej72** · August-06-11, 08:21 AM

Originally Posted by Patrick

S&P downgrades the United States' credit rating? Is this some sort of joke here? Isn't this is the SAME company that gave the Mortgage Backed Securities of the top financial institutions AAA Rating?

Quite the hypocritical situation, isn't it?

lit joe · August-06-11, 09:16 AM

Originally Posted by mjs

Third world? High mortgage rates? Mortgage rates are at record lows as people escape stocks and foreign bonds and homes become even worse investments than usual. The 15 year mortgage went under 3.5% today and one bank has even started charging interest to some of their depositors. Everybody is hoarding cash for reasons they can feel but not fully put into words. Its because people remember how it felt to go into the last recession up to their eye balls in debt. Its because none of the idiotic policies created in the last decade have been fixed so its all certain to happen again. Its because governments have made rewarding the market losers a standard so people are losing interest in playing such a fundamentally unfair game.

The stock market drop is due to the Europeans having even crappier bonds than us and selling everything including the kitchen sink to keep Spain and Italy out of bankruptcy so they don't crash the international banking system. If US treasury rates go up and stay up next week, it will be because the IMF forced Italy into a balanced budget amendment as terms of a bailout package. Risk determines price and this rating change doesn't change the risk. In the end of the day, it boils down to a very small opinion change of just one organization.

It will be five to ten years before our debt destroys us and I make my killing on the insurance coverage.

Maybe time to kick fannie may & freddie mac to the curb.

**Detroitej72** · August-06-11, 11:49 AM

Originally Posted by lit joe

Maybe time to kick fannie may & freddie mac to the curb.

They are but a tiny fraction of the problem. We need to let the huge "too big to fail" banks collapse. Why wasn't there more outrage when, after the Bush Wall Street Bailout, those same banks were allowed to give their executives huge bonuses? Rush even said it was necessary "to keep the talent from moving on". If the talent was so great, they wouldn't have run the company off the cliff and then beg Washington for help.

**Original63** · August-06-11, 01:49 PM

Maybe just raise taxes on those who have failed to pay them over the last 10 years would fix our problems.

Who ever heard of a family having a financial crisis and they say more income is off the table even though they can find the work?? Only the Republicans could say some SHIT like that.

lit joe · August-06-11, 04:04 PM

Originally Posted by Detroitej72

They are but a tiny fraction of the problem. We need to let the huge "too big to fail" banks collapse. Why wasn't there more outrage when, after the Bush Wall Street Bailout, those same banks were allowed to give their executives huge bonuses? Rush even said it was necessary "to keep the talent from moving on". If the talent was so great, they wouldn't have run the company off the cliff and then beg Washington for help.

Don't forget about G. E. & G.M. obamas pals 50,000,000 wasted on one no taxes for the other.

**Original63** · August-06-11, 04:41 PM

Yeah lets not forget the Millions of jobs saved by the auto rescue. If you call the sector that has hired more Americans than any other a waste then Our Gov't should keep wasting My money.

At least with GM and Chrysler you can see the product they make driving down the street or taking your kids to school.
The Financial industry has just churned money for the sake of creating inflated salaries for so called smart guys.

**Zacha341** · August-06-11, 05:00 PM

Well stated!

Originally Posted by Original63

Yeah lets not forget the Millions of jobs saved by the auto rescue. If you call the sector that has hired more Americans than any other a waste then Our Gov't should keep wasting My money.

At least with GM and Chrysler you can see the product they make driving down the street or taking your kids to school. The Financial industry has just churns money for the sake of creating inflated salaries for so called smart guys.

lit joe · August-06-11, 06:43 PM

Originally Posted by Original63

Yeah lets not forget the Millions of jobs saved by the auto rescue. If you call the sector that has hired more Americans than any other a waste then Our Gov't should keep wasting My money.

At least with GM and Chrysler you can see the product they make driving down the street or taking your kids to school.
The Financial industry has just churned money for the sake of creating inflated salaries for so called smart guys.

They could have filed bankrupty and reorganize. But daddy warbucks had to pay due to the uaw. 60 billion unnecessary dollars tossed away. Chrysler I use to buy last one I carried back 14 times. Fait good good luck! How's the car that going to make oil a thing of the past. Volt seen any lately? What a joke me I now enjoy my Toyotas Value Reliable A great car made with pride.

**3WC** · August-06-11, 11:23 PM

The good news is that U.S. debt is still ranked right up there with Belgium's.

Obama: It may be the time for Cash For Clunkers II.

**Original63** · August-06-11, 11:38 PM

Anything would be better than cutting the fat of the anorexic woman so the fat ass can keep eating bon bons

**maxx** · August-07-11, 06:25 PM

Originally Posted by Zacha341

Yep, and get rid of the porkulous spending rampant in this administration.

Let's all wait like Hoover did for the economy to fix itself. lol

**maxx** · August-07-11, 06:28 PM

Originally Posted by lit joe

They could have filed bankrupty and reorganize. But daddy warbucks had to pay due to the uaw. 60 billion unnecessary dollars tossed away.

http://www.nytimes.com/2011/05/25/bu...5chrysler.html
Chrysler paid back its loans.

**Danny** · August-08-11, 11:04 AM

So for the first time in Since the passing the Liberty Bond Act of 1917, the US credit rating went from AAA to AA+ Now the Stock Market is falling more than 500 points, people can't borrow more money form banks and mortage companies for home or a car. Our Credit Rating will be raised from an average of 620 points to 680 points and interest rates will be high that buying a simple a candy bar will go up to $1.20.

WORD FROM THE STREET PROPHET

What a upside down society we living in.

Neda, I miss you so.

**Detroitej72** · August-08-11, 12:00 PM

It's not all bad, I see the price of oil has dropped 3% this morning because of the downgrade.

**Papasito** · August-08-11, 04:05 PM

Obama complains about the problems he "inherited".
He also inherited an AAA rating, and blew it today.

**GOAT** · August-08-11, 04:45 PM

No "he" didn't blow it. Your goddamn ineffectual, constantly campaigning gov't did that. Both the repubs and the pig democrats are to blame. All over fucking taxes which need and shold be raised for EVERYONE! Then, and only then can a proper stimulus package be put into place that will create what is needed...Jobs!

Sorry but small tax breaks do fuck all for economic stimulus if people can't get a decent job.