Moodys: Another US Credit Rating Downgrade is Nigh

[RoadVirus]

This is what we can expect if our Failure in Chief is re-elected.

NEW YORK (CNNMoney) -- Next year will be a pivotal one for the United States' credit standing.

Moody's said Tuesday it would likely strip the United States of its sterling AAA rating if lawmakers fail to produce a long-term debt reduction plan next year.

Read more: U.S. credit rating hinges on Congress - Moody's - Sep. 11, 2012

 

[EdwardBaiamonte]

This is what we can expect if our Failure in Chief is re-elected.

NEW YORK (CNNMoney) -- Next year will be a pivotal one for the United States' credit standing.

Moody's said Tuesday it would likely strip the United States of its sterling AAA rating if lawmakers fail to produce a long-term debt reduction plan next year.

Read more: U.S. credit rating hinges on Congress - Moody's - Sep. 11, 2012

Its hard to reduce debt when liberals cant reduce the spending they need to buy votes!!

Is it legal to subvert our Constitution this way??

 

[waltky]

Looks like RV called it right - Looks like we're getting downgraded - again...

State Dept. Briefing for Foreign Reporters: ‘We’re Going to Get Downgraded’
November 7, 2012 - An economic analyst invited by the State Department to brief a group of foreign journalists on the U.S. economy on Election Day responded to a question from a reporter from the Egyptian newspaper Al Wafd by predicting that U.S. Treasury securities—the means by which the U.S. government finances its debt--will be downgraded again.

On Aug. 5, 2011, three days after President Obama signed legislation increasing the U.S. government debt limit by $2.4 trillion, Standard & Poors downgraded U.S. Treasury securities from its highest grade of AAA to AA+. Prior to that, U.S. government debt had always maintained the highest rating.

At Tuesday's State Department event, the Egyptian reporter asked analyst Kathy Bostjancic, director of Macroeconomic Analysis for the nonpartisan Conference Board, what impact the so-called “fiscal cliff” facing the U.S. federal government would have on the rating of U.S. Treasury securities. “I mean, to me, it seems the odds of us getting downgraded again are very high,” said Bostjanic.

“But I think that they [Republicans and Democrats] get around the sequestration,” Bostjanic went on to say, “and I think by consequence, because they’re not going to find an agreement on how to offset that in the budget, we’re going to get downgraded.” The Conference Board, a global membership organization for businesses, describes itself as “an objective, independent source of economic and business knowledge with only one agenda: to help our members understand and deal with the most critical issues of our time.”

The “fiscal cliff” is the colloquialism used to describe a series of federal tax increases and spending limitations scheduled to automatically take affect at the beginning of 2013. Among the automatic tax increases, as summarized by the Congressional Research Service, are the termination of all the lower marginal income-tax rates enacted under President George W. Bush, the termination of the “patch” in the Alternative Minimum Tax that now protects about 27 million middle-class American households from having to pay a higher federal tax rate, and the 2-point cut in the 12.4 percent Social Security payroll tax that President Obama signed into law in 2010.

MORE

See also:

Stocks Slammed by Fiscal Cliff Fears
11/07/12 --- The major U.S. equity averages were plunging Wednesday worries about the fiscal cliff rattle investors in the wake of Tuesday's status quo election results

President Barack Obama won a second term in The White House, while the Republicans maintained control of the House of Representatives and the Democrats kept the upper hand in the Senate.

Violent protests in Greece as the country's parliament votes on austerity measures were adding to the dour mood. Bonds were making a huge move higher with the 10-year Treasury jumping 1 2/32, pushing the yield down to 1.636%.

At last check, the Dow Jones Industrial Average was tanking by more than 280 points, or 2.12%, at 12,965. The drop pushed the blue-chip index below 13,000 on an intraday basis for the first time since Sept. 4.

MORE

 

[AmyNation]

That's what happens when you print more money. Awesome.

 

[Nova78]

We borrow 30 cents for every dollar we spend, we are already in the shitter with the liberal demwits.......womb to the tomb entitlements wil come back to haunt us.....

 

[Rozman]

We borrow 30 cents for every dollar we spend, we are already in the shitter with the liberal demwits.......womb to the tomb entitlements wil come back to haunt us.....

You would think that this would be a concern to Libs....

Wait,what was I thinking....

 

[Politico]

Can you repeat your post? I can't hear it over the sound of the printing presses spooling up.

 

[oldfart]

This is what we can expect if our Failure in Chief is re-elected.

NEW YORK (CNNMoney) -- Next year will be a pivotal one for the United States' credit standing.

Moody's said Tuesday it would likely strip the United States of its sterling AAA rating if lawmakers fail to produce a long-term debt reduction plan next year.

Yawn. Last time the bond markets didn't even burp. Just don't get run over by the crowds of bond buyers at the next Treasury auction. For a bunch of market-worshipers, these austerians with their confidence fairies and bond vigilantes who never show up don't seem to learn much when markets speak. Maybe they should try holding their breath.

 

[EdwardBaiamonte]

Just don't get run over by the crowds of bond buyers at the next Treasury auction.

too stupid!! they are all rushing to get 0% interest because nothing anywhere on earth pays more with any safety. Most of the world is more liberal, irresponsible and broke than we are. The only secure thing these days is the liberal's willingness to tax responsible people who have a surplus from being fiscally responsible.

This is hardly a good thing when money is supposed to flow where it gets the highest return by contributing most to an increasing standard of living! Government merely wastes money, does not invent new products, and so makes no contribution whatsoever to an improving economy.

A little Econ 101 for you! Why not wait till college before you post here?

 

[oldfart]

A little Econ 101 for you! Why not wait till college before you post here?

I used to teach Econ 101 at UNC Chapel Hill, along with statistics and a few other courses in the late 60's. Perhaps you can enlighten me as to when and where you passed your doctorals in economics?

 

[toomuchtime_]

A little Econ 101 for you! Why not wait till college before you post here?

I used to teach Econ 101 at UNC Chapel Hill, along with statistics and a few other courses in the late 60's. Perhaps you can enlighten me as to when and where you passed your doctorals in economics?

If you want to persuade the forum that you are a liar and a fool, just defend your posts by claiming unverifiable personal information.

 

[Rshermr]

A little Econ 101 for you! Why not wait till college before you post here?

I used to teach Econ 101 at UNC Chapel Hill, along with statistics and a few other courses in the late 60's. Perhaps you can enlighten me as to when and where you passed your doctorals in economics?

If you want to persuade the forum that you are a liar and a fool, just defend your posts by claiming unverifiable personal information.

Small minds always have to try to put down those with actual credentials. Idiot. Take a look at what oldfart says, and try to actually PROVE it is wrong. Of course, you can not. Dipshit. Because you are stupid, and a con. And you do not live in a world of factual information. You prefer to believe what you want to believe.
I think a lot of the issue with cons is that they have so little background, and so little of importance in their life to point at, that a simple statement of background makes them jealous. Must be the shits to be that unimportant.

 

[toomuchtime_]

I used to teach Econ 101 at UNC Chapel Hill, along with statistics and a few other courses in the late 60's. Perhaps you can enlighten me as to when and where you passed your doctorals in economics?

If you want to persuade the forum that you are a liar and a fool, just defend your posts by claiming unverifiable personal information.

Small minds always have to try to put down those with actual credentials. Idiot. Take a look at what oldfart says, and try to actually PROVE it is wrong. Of course, you can not. Dipshit. Because you are stupid, and a con. And you do not live in a world of factual information. You prefer to believe what you want to believe.
I think a lot of the issue with cons is that they have so little background, and so little of importance in their life to point at, that a simple statement of background makes them jealous. Must be the shits to be that unimportant.

Do you wake up this stupid in the morning or is it something you have to work at? Oldfart supports his belief that the US' credit rating is of no importance with nothing but an unverifiable claim that he has an advanced degree and university teaching experience in economics. You have proven to us that you are an actual idiot and an actual bigot but what reason do we have to believe Oldfart has actual credentials as an economist?

When some one defends his posts with unverifiable claims about his personal qualifications instead of with arguments based on verifiable facts, there is every reason to believe he is a fraud.

 

[Rshermr]

If you want to persuade the forum that you are a liar and a fool, just defend your posts by claiming unverifiable personal information.

Small minds always have to try to put down those with actual credentials. Idiot. Take a look at what oldfart says, and try to actually PROVE it is wrong. Of course, you can not. Dipshit. Because you are stupid, and a con. And you do not live in a world of factual information. You prefer to believe what you want to believe.
I think a lot of the issue with cons is that they have so little background, and so little of importance in their life to point at, that a simple statement of background makes them jealous. Must be the shits to be that unimportant.

Do you wake up this stupid in the morning or is it something you have to work at? Oldfart supports his belief that the US' credit rating is of no importance with nothing but an unverifiable claim that he has an advanced degree and university teaching experience in economics. You have proven to us that you are an actual idiot and an actual bigot but what reason do we have to believe Oldfart has actual credentials as an economist?

When some one defends his posts with unverifiable claims about his personal qualifications instead of with arguments based on verifiable facts, there is every reason to believe he is a fraud.

Do you wake up this stupid in the morning or is it something you have to work at? Oldfart supports his belief that the US' credit rating is of no importance with nothing but an unverifiable claim that he has an advanced degree and university teaching experience in economics. You have proven to us that you are an actual idiot and an actual bigot but what reason do we have to believe Oldfart has actual credentials as an economist?

First, relative to your opinion of my intelligence, you must know how hurt I am by your statement. I so respect your opinion. And to think that you can actually speak for "us" is really impressive How do you do that. I can only talk for myself. So, again, you must know how impresesed I am with you.
Relative to the bigot post, I think you missed it a bit. Just a bit. I believe con tools are stupid because of many studies that have come to that conclusion. And because of the statements of cons like you, dipshit.

When some one defends his posts with unverifiable claims about his personal qualifications instead of with arguments based on verifiable facts, there is every reason to believe he is a fraud.

And there you go again, with more proof that you are a con tool and an idiot. You have called the man a liar, and it is YOU that has no proof of that. I suspect that should he need to, oldfart could prove his statements. Though I am not at all certain of why he would want to bother with the likes of you. And beyound that, you really need to read and try to understand what oldfart said. It was not, of course, what you said he said. As a con, you have that normal con trait of changing what was said to what you would like it to have been. Dipshit.
Before you start calling people stupid, try reading the following:

Low IQ & Conservative Beliefs Linked to Prejudice | Racism, Bias & Politics | Right-Wing and Left-Wing Ideology | LiveScience
A recent college study out of Canada.

CONFIRMED: Watching Fox News makes you more stupid

Damn. Seems all the studies out there say the same thing, toomuchtime. There are tons of studies over the past years, all saying the same thing. By the way, you are a con, are you not, toomuchtime? Of course you are.

 

[toomuchtime_]

Small minds always have to try to put down those with actual credentials. Idiot. Take a look at what oldfart says, and try to actually PROVE it is wrong. Of course, you can not. Dipshit. Because you are stupid, and a con. And you do not live in a world of factual information. You prefer to believe what you want to believe.
I think a lot of the issue with cons is that they have so little background, and so little of importance in their life to point at, that a simple statement of background makes them jealous. Must be the shits to be that unimportant.

Do you wake up this stupid in the morning or is it something you have to work at? Oldfart supports his belief that the US' credit rating is of no importance with nothing but an unverifiable claim that he has an advanced degree and university teaching experience in economics. You have proven to us that you are an actual idiot and an actual bigot but what reason do we have to believe Oldfart has actual credentials as an economist?

When some one defends his posts with unverifiable claims about his personal qualifications instead of with arguments based on verifiable facts, there is every reason to believe he is a fraud.

Do you wake up this stupid in the morning or is it something you have to work at? Oldfart supports his belief that the US' credit rating is of no importance with nothing but an unverifiable claim that he has an advanced degree and university teaching experience in economics. You have proven to us that you are an actual idiot and an actual bigot but what reason do we have to believe Oldfart has actual credentials as an economist?

First, relative to your opinion of my intelligence, you must know how hurt I am by your statement. I so respect your opinion. And to think that you can actually speak for "us" is really impressive How do you do that. I can only talk for myself. So, again, you must know how impresesed I am with you.
Relative to the bigot post, I think you missed it a bit. Just a bit. I believe con tools are stupid because of many studies that have come to that conclusion. And because of the statements of cons like you, dipshit.

When some one defends his posts with unverifiable claims about his personal qualifications instead of with arguments based on verifiable facts, there is every reason to believe he is a fraud.

And there you go again, with more proof that you are a con tool and an idiot. You have called the man a liar, and it is YOU that has no proof of that. I suspect that should he need to, oldfart could prove his statements. Though I am not at all certain of why he would want to bother with the likes of you. And beyound that, you really need to read and try to understand what oldfart said. It was not, of course, what you said he said. As a con, you have that normal con trait of changing what was said to what you would like it to have been. Dipshit.
Before you start calling people stupid, try reading the following:

Low IQ & Conservative Beliefs Linked to Prejudice | Racism, Bias & Politics | Right-Wing and Left-Wing Ideology | LiveScience
A recent college study out of Canada.

CONFIRMED: Watching Fox News makes you more stupid

Damn. Seems all the studies out there say the same thing, toomuchtime. There are tons of studies over the past years, all saying the same thing. By the way, you are a con, are you not, toomuchtime? Of course you are.

Once again, all attitude and no intellect. Just what did God give you instead of brains?

 

[Epsilon Delta]

The credit ratings are irrelevant. Interest rates aren't going to rise. There is nowhere else to invest. Europe is in shambles, Japan's been a zombie for two decades, and the emerging markets are not safe enough for a flight en-masse. International investment is still centered on the US and will continue to be centered there for the duration of this global economic paralysis.

In fact, I would not be surprised if Moody's is specifically interested in putting a bit of urgency in the upcoming decisions regarding the fiscal cliff. One should remember that the rating's agencies are simply an oligopoly of 3 large private corporations. If the ratings actually were expected to make a huge negative impact on the economy, they would not downgrade, because they themselves would be economically affected.

 

[editec]

This is what we can expect if our Failure in Chief is re-elected.

NEW YORK (CNNMoney) -- Next year will be a pivotal one for the United States' credit standing.

Moody's said Tuesday it would likely strip the United States of its sterling AAA rating if lawmakers fail to produce a long-term debt reduction plan next year.

Read more: U.S. credit rating hinges on Congress - Moody's - Sep. 11, 2012

Would these Moody geniuses be the same Moody geniuses who gave all those Real Estate derivative bonds AAA ratings?

Their credibility is somewhat in tatters, don't you think?

 

[Rshermr]

Do you wake up this stupid in the morning or is it something you have to work at? Oldfart supports his belief that the US' credit rating is of no importance with nothing but an unverifiable claim that he has an advanced degree and university teaching experience in economics. You have proven to us that you are an actual idiot and an actual bigot but what reason do we have to believe Oldfart has actual credentials as an economist?

When some one defends his posts with unverifiable claims about his personal qualifications instead of with arguments based on verifiable facts, there is every reason to believe he is a fraud.

First, relative to your opinion of my intelligence, you must know how hurt I am by your statement. I so respect your opinion. And to think that you can actually speak for "us" is really impressive How do you do that. I can only talk for myself. So, again, you must know how impresesed I am with you.
Relative to the bigot post, I think you missed it a bit. Just a bit. I believe con tools are stupid because of many studies that have come to that conclusion. And because of the statements of cons like you, dipshit.

When some one defends his posts with unverifiable claims about his personal qualifications instead of with arguments based on verifiable facts, there is every reason to believe he is a fraud.

And there you go again, with more proof that you are a con tool and an idiot. You have called the man a liar, and it is YOU that has no proof of that. I suspect that should he need to, oldfart could prove his statements. Though I am not at all certain of why he would want to bother with the likes of you. And beyound that, you really need to read and try to understand what oldfart said. It was not, of course, what you said he said. As a con, you have that normal con trait of changing what was said to what you would like it to have been. Dipshit.
Before you start calling people stupid, try reading the following:

Low IQ & Conservative Beliefs Linked to Prejudice | Racism, Bias & Politics | Right-Wing and Left-Wing Ideology | LiveScience
A recent college study out of Canada.

CONFIRMED: Watching Fox News makes you more stupid

Damn. Seems all the studies out there say the same thing, toomuchtime. There are tons of studies over the past years, all saying the same thing. By the way, you are a con, are you not, toomuchtime? Of course you are.

Once again, all attitude and no intellect. Just what did God give you instead of brains?

And again, I get toomuch giving his opinion. And you know how much I respect his opinion. I gave you studies, toomuch. Showing you, should you care about the facts, why you are indeed stupid. You should really spend some time reading them. Here are some additional ones for your reading pleasure:
Brock University Study Low IQ & Conservative Beliefs Linked to Prejudice | Racism, Bias & Politics | Right-Wing and Left-Wing Ideology | LiveScience

U of Arkansas study Study “Proves” Conservatism Linked To Stupidity - The Ulsterman Report

British Cohort study Right-wingers are less intelligent than left wingers, says controversial study - and conservative politics can lead people to be racist | Mail Online

LiveScience study Social conservatives have a lower I.Q.? (probably) | Gene Expression | Discover Magazine

Watching Fox makes you stupid Study: Watching Fox News Actually Makes You Stupid | Jillian Rayfield | Politics News | Rolling Stone

Alterman Study: Conservatives Display Ignorance « Nel's New Day

Really, toomuch. If you read these studies, you will find solace in the fact that it is not your fault. You were just born that way. Just plain bad luck.

 

[EdwardBaiamonte]

First, relative to your opinion of my intelligence, you must know how hurt I am by your statement. I so respect your opinion. And to think that you can actually speak for "us" is really impressive How do you do that. I can only talk for myself. So, again, you must know how impresesed I am with you.
Relative to the bigot post, I think you missed it a bit. Just a bit. I believe con tools are stupid because of many studies that have come to that conclusion. And because of the statements of cons like you, dipshit.


And there you go again, with more proof that you are a con tool and an idiot. You have called the man a liar, and it is YOU that has no proof of that. I suspect that should he need to, oldfart could prove his statements. Though I am not at all certain of why he would want to bother with the likes of you. And beyound that, you really need to read and try to understand what oldfart said. It was not, of course, what you said he said. As a con, you have that normal con trait of changing what was said to what you would like it to have been. Dipshit.
Before you start calling people stupid, try reading the following:

Low IQ & Conservative Beliefs Linked to Prejudice | Racism, Bias & Politics | Right-Wing and Left-Wing Ideology | LiveScience
A recent college study out of Canada.

CONFIRMED: Watching Fox News makes you more stupid

Damn. Seems all the studies out there say the same thing, toomuchtime. There are tons of studies over the past years, all saying the same thing. By the way, you are a con, are you not, toomuchtime? Of course you are.

Once again, all attitude and no intellect. Just what did God give you instead of brains?

And again, I get toomuch giving his opinion. And you know how much I respect his opinion. I gave you studies, toomuch. Showing you, should you care about the facts, why you are indeed stupid. You should really spend some time reading them. Here are some additional ones for your reading pleasure:
Brock University Study Low IQ & Conservative Beliefs Linked to Prejudice | Racism, Bias & Politics | Right-Wing and Left-Wing Ideology | LiveScience

U of Arkansas study Study “Proves” Conservatism Linked To Stupidity - The Ulsterman Report

British Cohort study Right-wingers are less intelligent than left wingers, says controversial study - and conservative politics can lead people to be racist | Mail Online

LiveScience study Social conservatives have a lower I.Q.? (probably) | Gene Expression | Discover Magazine

Watching Fox makes you stupid Study: Watching Fox News Actually Makes You Stupid | Jillian Rayfield | Politics News | Rolling Stone

Alterman Study: Conservatives Display Ignorance « Nel's New Day

Really, toomuch. If you read these studies, you will find solace in the fact that it is not your fault. You were just born that way. Just plain bad luck.

of course if our Founders and other limited government types like Milton Friedman were stupid the liberal would not be so afraid to explain why he feels they were stupid.

What does your fear tell us about the liberal IQ and character??

 

[oldfart]

If you want to persuade the forum that you are a liar and a fool, just defend your posts by claiming unverifiable personal information.

My status in an economic argument should stand or fall on my use of data and economic theory. I have made over a hundred posts involving economic policy and economic theory. Take any of them and debate me if you have any pretense of being an economist and believe I have overstated my knowledge.

My objection to the post I was replying to was that it is a bad idea to use an insulting ad hominem remark when you know nothing of he background of the person you are insulting. Your post appears to be an ad hominem also.

I noticed that neither you nor Ed have any comment on te observation that bond markets do not seem to support his position. Perhaps you or he would lke to enlighten me as to how the behavior of capital markets over the last three years is consistent with your economc theory and to provide us with your view of where interest rates are headed.

Rather than trade insults and ad hominems, why don't you demonsrate your expertise by picking an economic subject, whether I have posted on it or not, and we can discuss it?