http://finance.yahoo.com/news/SampP-downgrades-US-credit-apf-2107320979.html
This is a game changer, folks. Get ready.
Not for the first time America has stuffed up and has the global economy off balanceas a result, well done! takes alot of effort buy a few ****heads to do that kind of damage:mad:
[QUOTE=aussie1981;1120766]takes alot of effort buy a few ****heads to do that kind of damage:mad:[/QUOTE]
Just 3. Pelosi, Reid, and Obama. Never in history has our credit rating been lowered. So this is a first for the community organizer! He’ll go down in history as the failure he was. I predicted he would make Jimmy Carter look like a genius, and so far I’ve been proven correct in so many ways on that one.
the state of the US economy is generations in the making. probably started in the Nixon administration, when the US dollar’s gold standard was done away with. that and the fact US no longer manufacture stuff like before.
WOW, blue, what are you smoking? S&P noted perceived instability in our nations ability to govern itself. It wasn’t the above three that held America hostage to get what they wanted at the cost of our good standing.
You don’t have a leg to stand on in this issue.
[QUOTE=BJJ-Blue;1120831]Just 3. Pelosi, Reid, and Obama. Never in history has our credit rating been lowered. So this is a first for the community organizer! He’ll go down in history as the failure he was. I predicted he would make Jimmy Carter look like a genius, and so far I’ve been proven correct in so many ways on that one.[/QUOTE]
you act like the one of the greatest financial disasters in the history of human kind didnt happen under the republicans watch… they get control, start off with a questionable disaster and a questionable response and end with a complete financial meltdown… yeah, that was all obama… 8 years of genius right there… :rolleyes: geeeeez
funny how you rarely mentioned ried till recently, now he’s all the rage… you are a follower… not one original though has come under your name… not one…
[QUOTE=dirtyrat;1120835]the state of the US economy is generations in the making.[/QUOTE]
funny how often opportunists forget that very simple and very apparent truth…
[QUOTE=dirtyrat;1120835] that and the fact US no longer manufacture stuff like before.[/QUOTE]
The US is the world’s largest manufacturer.
[QUOTE=Lebaufist;1120894] It wasn’t the above three that held America hostage to get what they wanted at the cost of our good standing.[/QUOTE]
Better to say it wasn’t just those three. There are almost 500 guilty parties.
[QUOTE=Syn7;1120907]you act like the one of the greatest financial disasters in the history of human kind didnt happen under the republicans watch… they get control, …[/QUOTE]
Get ‘control’ of what? The House, right? But not the Senate or the Executive, right? Right?
[QUOTE=Kansuke;1120935]The US is the world’s largest manufacturer.[/QUOTE]
how you figure? we have countries like China make everything for us. why do you think the country’s debt is so large?
[QUOTE=dirtyrat;1120940]how you figure? we have countries like China make everything for us. why do you think the country’s debt is so large?[/QUOTE]
I ‘figure’ because it’s true.
http://shopfloor.org/2011/03/u-s-manufacturing-remains-worlds-largest/18756
There is more to manufacturing in the world than sneakers and poison toys.
Our debt is so large because the dopes in Washington can’t grasp the formula: How much money you have = How much money you can spend
true, but USA’s output per capita isn’t the world’s greatest. China’s been growing in the past couple decades because the US companies want to keep their production cost down.
"In 2007, the top manufacturing countries besides the United States were China ($1,106 billion USD), Japan ($926 billion USD), Germany ($670 billion USD), the Russian Federation ($362 billion USD), Italy ($345 billion USD), the United Kingdom ($342 billion USD), France ($296 billion USD), South Korea ($241 billion USD), Canada ($218 billion USD), Spain ($208 billion USD), and Brazil ($206 billion USD). There is also a general correlation between how much a country manufactures and its total GDP. Depending on the percentage of their total economy taken up by manufacturing, a country’s economic and political leaders may wish to take steps to adjust accordingly. For instance, the USA has been losing substantial ground to China in recent decades, meaning that US political leaders have an interest in increasing the total percentage of the country’s GDP dominated by manufacturing."
http://www.wisegeek.com/what-are-the-top-manufacturing-countries.htm
[QUOTE=Kansuke;1120941]I ‘figure’ because it’s true.
http://shopfloor.org/2011/03/u-s-manufacturing-remains-worlds-largest/18756
There is more to manufacturing in the world than sneakers and poison toys.
Our debt is so large because the dopes in Washington can’t grasp the formula: How much money you have = How much money you can spend[/QUOTE]
Tell it to the last admin, they’re the one that got that huge ball of financial regret rolling. lol
Oh, I suppose we could tell it to every elected official for the past 100 years or so, including especially the current misadminstration. A mess don’t get this big overnight, but it does seem to get easier and easier to make it bigger and bigger.
most of us are doing well enough that a revolution is just a big pain in the ass at this point.
[QUOTE=David Jamieson;1120982]most of us are doing well enough that a revolution is just a big pain in the ass at this point.[/QUOTE]
That’ll have to do for now.
[QUOTE=Syn7;1120907]you act like the one of the greatest financial disasters in the history of human kind didnt happen under the republicans watch..[/QUOTE]
Because it wasn’t. When the meltdown happened Bush was President, yes. But the Democrats controlled the Senate and the House.
Ask yourself this, why do liberals who blame Bush always bring up his last 2 years in office, but forget about the first 6 years? And who controlled Congress during the 6 years of economic growth?
I read the story about the credit rating downgrade on Yahoo first. And I always read a few user comments for fun. Some guy put it this way:
We had one Party who wanted to CUT spending, CAP the debt limit, and BALANCE the budget.
And the other Party said “No”
It’s really that simple.
That guy said it better than even I could have. 
http://www.standardandpoors.com/ratings/articles/en/us/?assetID=1245316529563
The political brinksmanship of recent months highlights what we see as
America’s governance and policymaking becoming less stable, less effective,
and less predictable than what we previously believed. The statutory debt
ceiling and the threat of default have become political bargaining chips in
the debate over fiscal policy.
Who used it as a bargaining chip? The Republicans. Who is willing to do so again? The Republicans.
Compared with previous projections, our revised base case scenario now
assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012,
remain in place. We have changed our assumption on this because the majority
of Republicans in Congress continue to resist any measure that would raise
revenues, a position we believe Congress reinforced by passing the act.
Clearly the S&P regards the Republicans intransigence over increasing revenues as a “bad” thing.
Our revised upside scenario–which, other things being equal, we view as
consistent with the outlook on the ‘AA+’ long-term rating being revised to
stable–retains these same macroeconomic assumptions. In addition, it
incorporates $950 billion of new revenues on the assumption that the 2001 and
2003 tax cuts for high earners lapse from 2013 onwards, as the Administration
is advocating.
An upwards revision to “stable” from “negative” is contingent on the Bush tax cuts expiring.