Credit agencies warn GOP of 'death spiral'

Discussion in 'Politics' started by Chris, Jul 21, 2011.

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  1. Jul 21, 2011 #1
    Chris
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    Chris Gold Member

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    House Republicans were cautioned Thursday in a closed door meeting with credit rating agency officials that a “death spiral” in the bond market was one of the possible outcomes in the event of default.

    One official warned of a worst-case scenario in which a default on the nation’s credit could result in a rapid drop in bond values, sparking chaos in the markets — a dramatic warning as Washington worked on a possible deal on deficit reduction and an increase in the debt limit.

    Credit agencies warn GOP of 'death spiral' - Marin Cogan - POLITICO.com
     
  2. Jul 21, 2011 #2
    CrusaderFrank
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    CrusaderFrank Diamond Member

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    And they're OK with Obama and the Dems blasting an annual trillion hole in the budget? LOL
     
    Last edited: Jul 21, 2011
  3. Jul 21, 2011 #3
    Steelplate
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    Steelplate Bluesman

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    The Conservative response whenever they hear something they don't like... What about Obama and his....(fill in the blank)..

    Fucking Cultists.
     
  4. Jul 21, 2011 #4
    Stephanie
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    Stephanie Diamond Member

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    OMG, WE ARE ALL GOING TO DIE if we don't give this damn Goverment MORE money to spend AS THEY WISH.

    We're DOOMED DOOMED I SAY.

    :eusa_whistle:
     
  5. Jul 21, 2011 #5
    Dont Taz Me Bro
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    Dont Taz Me Bro USMB Mod Staff Member Gold Supporting Member Supporting Member

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    What do you think is going to happen when China, who owns us (which you don't seem to have a problem with, strangely enough) decides not to buy any more bonds because we've run our debt up so high they no longer have confidence in our ability to repay it?
     
  6. Jul 21, 2011 #6
    imbalance
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    imbalance Silver Member

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    The world economy stands to loose much more than the US in the event of a US default.
     
  7. Jul 21, 2011 #7
    imbalance
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    imbalance Silver Member

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  8. Jul 21, 2011 #8
    uscitizen
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    uscitizen Senior Member

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    Why should we believe those credit ratings agencies? They did not even see the meltdown coming and rated junk mortgage packages as low risk.

    A prime example of private industry being as bad or worse than the government.
     
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    Last edited: Jul 21, 2011
  9. Jul 21, 2011 #9
    Stephanie
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    Stephanie Diamond Member

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    And just HOW MANY of these threads do we need here telling us we are all going to die if we don't let this Government suck more money from us TAXPAYERS.
     
  10. Jul 21, 2011 #10
    rdean
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    What's hilarious is GOP Gov. Bob McDonnell of Virginia saying so what on the debt ceiling. He said it doesn't affect him or his state. Oops.

    Then Moody told him that Virginia, Maryland, New Mexico, South Carolina, and Tennessee would have their rating down graded. Down. Get it? Opposite of up?

    Moody was making OF them:

    EGG ZAMP PULLS.

    Poor Bob. Now he's freaking out. Screaming for Republicans to raise the debt ceiling.
     
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