Downgrading of credit rating not credible

Discussion in 'Politics' started by Gadawg73, Aug 11, 2011.

  1. Gadawg73
    Offline

    Gadawg73 Gold Member

    Joined:
    Feb 22, 2009
    Messages:
    14,426
    Thanks Received:
    1,603
    Trophy Points:
    155
    Location:
    Georgia
    Ratings:
    +1,677
    Americans are not very smart these days but I believe they are starting to come around.
    T Party leveraged the fact that the news was before the debt deal that the credit rating would be downgraded by Stand and Poors. No problem with that as that is politics.
    But anyone, including members of the T Party, that believes that has any credibility whatsoever is ignorant.
    Folks, Standard and Poors are the same clowns that gave AAA ratings to all of those bundled mortgages that were toxic loans from the start and they also gave an A rating to Lehman Brothers, the company that filed the largest bankruptcy in American history.
    Yes, most Americans do no research whatsoever and will jump on any bandwagon with a seat be it socialist, liberal, far right, religous right or T Party ideologue gone whacky.
    However, my bet is that this will be good for the T Party long term. I fully support their core beliefs. If anything, this will awaken their base and continue to weed out the kooks in their midst which EVERY political entity, namely Democrat and Republican, always have.
     
  2. Matthew
    Offline

    Matthew Blue dog all the way!

    Joined:
    Mar 16, 2010
    Messages:
    49,755
    Thanks Received:
    4,609
    Trophy Points:
    1,885
    Location:
    Portland Oregon
    Ratings:
    +15,215
    Are you fucking serious? We're 14.5 trillion or nearing 100 percent of gdp in federal debt and with over 100 something trillion in overall liabilities that we can't possibly pay back. The entire freaking world couldn't bail our asses out if it tried, and we're spending 1.5 trillion over what our tax base can support each and every year.

    Truth is S&P downgraded us to little as there is NO chance in hell that we're AA+ right now...In fact we're worst off then Greece that has a CC rating. The sad truth is they are scared to down grade us through the fact that if they do our whole world is at risk of sliding into the crapper. :( In for reasons of being raided by police and other organizations for reasons of such.

    Also, we're not some small nation that can easily be bailed out of a mess like Greece, ect. Ask your self what is more risk at the end of the day? Greece that can be bailed out(And fully backed by the central Bank of the european union) or the United states that can't.

    The european union can't even bail out a Spain size nation there selfs. It would break the back of the world to try bailing out the US.
     
    Last edited: Aug 11, 2011
  3. chikenwing
    Offline

    chikenwing Guest

    Joined:
    Feb 18, 2010
    Messages:
    7,389
    Thanks Received:
    830
    Trophy Points:
    190
    Ratings:
    +1,960
    If you went to the bank for a loan with the debt to income the feds have ,do ya think the would let your buy that new Buick?
     
    • Thank You! Thank You! x 1
  4. Matthew
    Offline

    Matthew Blue dog all the way!

    Joined:
    Mar 16, 2010
    Messages:
    49,755
    Thanks Received:
    4,609
    Trophy Points:
    1,885
    Location:
    Portland Oregon
    Ratings:
    +15,215
    NO,

    The truth is when you go into debt your credit rating goes down and you have less credit.
     
  5. Ravi
    Offline

    Ravi Diamond Member

    Joined:
    Feb 27, 2008
    Messages:
    81,423
    Thanks Received:
    12,697
    Trophy Points:
    2,205
    Location:
    Hating Hatters
    Ratings:
    +29,854
    Yeah, you have to wonder if the downgrade was done for political reasons.
     
  6. Matthew
    Offline

    Matthew Blue dog all the way!

    Joined:
    Mar 16, 2010
    Messages:
    49,755
    Thanks Received:
    4,609
    Trophy Points:
    1,885
    Location:
    Portland Oregon
    Ratings:
    +15,215
    Why? Our bonds are on softer ground then Greece. Is that as far as your reasoning goes is political??? The economic system of the west is on quick sand.
     
  7. 8537
    Offline

    8537 Senior Member

    Joined:
    Aug 23, 2010
    Messages:
    7,754
    Thanks Received:
    729
    Trophy Points:
    48
    Location:
    New England's West Coast
    Ratings:
    +729
    Try telling that to people buying 10-yr Treasuries at some of the highest prices on record. Are they all wrong?
     
  8. Matthew
    Offline

    Matthew Blue dog all the way!

    Joined:
    Mar 16, 2010
    Messages:
    49,755
    Thanks Received:
    4,609
    Trophy Points:
    1,885
    Location:
    Portland Oregon
    Ratings:
    +15,215
    The market is controlled by people like Warren Buffet, Soro's, ect. You think it reflects reality anymore :confused:
     
  9. Gadawg73
    Offline

    Gadawg73 Gold Member

    Joined:
    Feb 22, 2009
    Messages:
    14,426
    Thanks Received:
    1,603
    Trophy Points:
    155
    Location:
    Georgia
    Ratings:
    +1,677
    You can believe all you want that those bundled mortgages and Lehman Brothers' books were worthy of a AAA rating and Standard and Poors were credible in believing their books were not cooked.
    I don't.
    I pay cash for everything.
     
  10. Matthew
    Offline

    Matthew Blue dog all the way!

    Joined:
    Mar 16, 2010
    Messages:
    49,755
    Thanks Received:
    4,609
    Trophy Points:
    1,885
    Location:
    Portland Oregon
    Ratings:
    +15,215
    Your right about mortgages and lehman brothers- there is no question of it. They holded them up as they're holding up the United states credit rating.:(
     
    Last edited: Aug 11, 2011

Share This Page