obama gets our credit downgraded for a second time

[Too Tall]

First downgrade was because the congress-critters would not get along and come up with a viable way to reduce the deficit.

This one is for what fed did, it has nothing to do with Obama.

Stop placing blame on the wrong people

Was that the first or second budget that the Democrat Senate passed? I forget!

 

[auditor0007]

trade imbalance, lower dollar equals more exports.

That would be the upside, but it likely won't work out that way.

 

[OKTexas]

..and yet they devalue our currency even more. What are these amateurs in the Whitehouse thinking?

They think their moving forward in their plan to destroy the country, and I have to agree.

Everything Maobama has done since taking office has been leading to this.

 

[Katzndogz]

The dow is up 50. This means nothing.

It means that there is a lot of trading against the dollar.

no it doesn't. It's some ratings agency nobody's ever heard of. It means nothing.

All you can say is YOU never heard of it. The reality is, our credit rating has been downgraded which means our ability to borrow money will be have a huge impact.

 

[LoneLaugher]

So many cowardly assholes.

 

[Katzndogz]

trade imbalance, lower dollar equals more exports.

That would be the upside, but it likely won't work out that way.

It won't because inflation is not the same as devaluation. When the dollar is devalued, it's measured against foreign currency. This means that imports will cost more than domestic goods. The average consumer really doesn't see any impact from devaluation. Foreign markets see cheaper American goods.

Inflation on the other hand, is when the dollar is measured against itself. Everything skyrockets. That's why our credit was downgraded. The purchasing power of the average consumer has been limited by inflationary costs of everything.

 

[Liberal]

First downgrade was because the congress-critters would not get along and come up with a viable way to reduce the deficit.

This one is for what fed did, it has nothing to do with Obama.

Stop placing blame on the wrong people

Was that the first or second budget that the Democrat Senate passed? I forget!

Kind of hard to get anything passed when you get railroaded by the house.

But hey, that is what happens when Republicons demonize compromise.

 

[Katzndogz]

Not only obama has to go, but he has to take his democrat controlled senate with him.

 

[HUGGY]

obama gets our credit downgraded for a second time


Of course he did. He's tryin to get it as low as an ant's nuts.

Cuz HE HATES AMERICA!!! The pubes are shocked I tells ya .. SHOCKED!!!

They have NO POWER whatsoevah to do anything about this problem..cuz Barry is KING!!! that's the ticket KING BARRY!!!

 

[asaratis]

Obama intends to ruin our economy...no matter what it takes.

 

[ba1614]

I guess that's what happens when you pay your visa bill with your mastercard.

 

[Lovebears65]

Bush's fault.

Has to be.

Yep , It all Bush fault. Everything is. All but getting Bin Ladin that is ALL Obama . Even though it was Bush who put the stuff together and his water boarding is what broke the terrorist .. But Obama took all the glory

 

[Lovebears65]

Obama intends to ruin our economy...no matter what it takes.

YEP, He puts it in all in his book but the main stream media ignores it..

 

[Avorysuds]

Not good for Obamas reelection chances.

Why, Mitt has supported every EQ there ever was... unless this one is not popular... Then he might say he never supported a QE, lol.

 

[eflatminor]

This is not going to end well...

In its downgrade, the firm said that issuing more currency and depressing interest rates through purchasing mortgage-backed securities does little to raise the U.S.'s real gross domestic product, but reduces the value of the dollar.

 

[Meister]

Egan-Jones downgrades U.S. rating on QE3 move - MarketWatch

SAN FRANCISCO (MarketWatch) -- Egan-Jones Ratings Co. said Friday it downgraded its U.S. sovereign rating to AA- from AA on concerns that the Fed's new round of quantitative easing, or QE3, will hurt the U.S. economy. The ratings agency said the Fed's plan of buying $40 billion in mortgage-backed securities a month and keeping interest rates near zero does little to raise GDP, reduces the value of the dollar, and raises the price of commodities.

This is great and makes Obama a "odz" on to win the upcoming election. It just shows that those lousy republicans are just working against him. The American people know what's going on and who to blame.
Why do you people hate America?
If you think This isn't good for the democrats, then "your" all stinkin "LAIRS!"


Who am I?

 

[Jackson]

Egan-Jones downgrades U.S. rating on QE3 move - MarketWatch

SAN FRANCISCO (MarketWatch) -- Egan-Jones Ratings Co. said Friday it downgraded its U.S. sovereign rating to AA- from AA on concerns that the Fed's new round of quantitative easing, or QE3, will hurt the U.S. economy. The ratings agency said the Fed's plan of buying $40 billion in mortgage-backed securities a month and keeping interest rates near zero does little to raise GDP, reduces the value of the dollar, and raises the price of commodities.

CORRECTION:

This is our THIRD downgrade.

QE3 Sparks U.S. Credit Ratings Downgrade From Egan-Jones

Egan-Jones first removed the U.S.’s pristine “AAA” credit rating in July 2011 and then further downgraded the country to “AA” in April of this year.

We are now sitting here with an AA- rating.

Read more: QE3 Sparks U.S. Credit Ratings Downgrade From Egan-Jones | Fox Business

 

[Freewill]

Obama, hurting America to try and win reelection? Sad but it appears to be true.

Egan-Jones Welcomes QE3 By Cutting U.S. Credit Rating

Egan-Jones Welcomes QE3 By Cutting U.S. Credit Rating - Income Investing - Barrons.com

[T]he FED’s QE3 will stoke the stock market and commodity prices, but in our opinion will hurt the US economy and, by extension, credit quality. Issuing additional currency and depressing interest rates via the purchasing of MBS does little to raise the real GDP of the US, but does reduce the value of the dollar (because of the increase in money supply), and in turn increase the cost of commodities (see the recent rise in the prices of energy, gold, and other commodities). The increased cost of commodities will pressure profitability of businesses, and increase the costs of consumers thereby reducing consumer purchasing power. Hence, in our opinion QE3 will be detrimental to credit quality for the US…. From 2006 to present, the US’s debt to GDP rose from 66% to 104% and will probably rise to 110% a year from today under current circumstances; the annual budget deficit is 8%. In comparison, Spain has a debt to GDP of 68.5% and an annual budget deficit of 8.5%.

 

[Meister]

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