U.S. may lose top credit rating soon, Moody's says

[Chris]

do dims live in a time warp?

I think your question might actually be an insight as to why so many conservatives don't seem to learn from past examples of being both wrong and in denial at the same time. They just refuse to learn from their mistakes. I guess ignorance IS bliss...for some people.

Talking about learning from mistakes let's , adress the first time the fuckers defaulted, circa 1935.

Back then the bastard hads printed to much paper money. When the people tried to redeem the same Uncle Sam couldn't and defaulted.

The Lesson was LEARN TO LIVE WITHIN YOUR MEANS.

The fuckers, of course, ignored it.

Hopefully losing their credit rating will force the mo'fo's to live withing their means.

.

Reagan and the two Bushes created 93% of the National Debt by lowering taxes for the rich. Go to reaganbushdebt.com to see the numbers.

Now we need to raise taxes and cut spending.

Have the Republicans learned their lesson?

No.

 

[Momanohedhunter]

I think your question might actually be an insight as to why so many conservatives don't seem to learn from past examples of being both wrong and in denial at the same time. They just refuse to learn from their mistakes. I guess ignorance IS bliss...for some people.

Talking about learning from mistakes let's , adress the first time the fuckers defaulted, circa 1935.

Back then the bastard hads printed to much paper money. When the people tried to redeem the same Uncle Sam couldn't and defaulted.

The Lesson was LEARN TO LIVE WITHIN YOUR MEANS.

The fuckers, of course, ignored it.

Hopefully losing their credit rating will force the mo'fo's to live withing their means.

.

Reagan and the two Bushes created 93% of the National Debt by lowering taxes for the rich. Go to reaganbushdebt.com to see the numbers.

Now we need to raise taxes and cut spending.

Have the Republicans learned their lesson?

No.

We need to do nothing if that's what it takes. Obama needs to be gone and we need to start from scratch. Default (if you believe that) and govet. shut down would be a blessing.

 

[Contumacious]

I think your question might actually be an insight as to why so many conservatives don't seem to learn from past examples of being both wrong and in denial at the same time. They just refuse to learn from their mistakes. I guess ignorance IS bliss...for some people.

Talking about learning from mistakes let's , adress the first time the fuckers defaulted, circa 1935.

Back then the bastard hads printed to much paper money. When the people tried to redeem the same Uncle Sam couldn't and defaulted.

The Lesson was LEARN TO LIVE WITHIN YOUR MEANS.

The fuckers, of course, ignored it.

Hopefully losing their credit rating will force the mo'fo's to live withing their means.

.

Reagan and the two Bushes created 93% of the National Debt by lowering taxes for the rich. Go to reaganbushdebt.com to see the numbers.

Now we need to raise taxes and cut spending.

Have the Republicans learned their lesson?

No.

I see.

So then , did the democrats lower expenditures?

.

 

[Mustang]

do dims live in a time warp?

I think your question might actually be an insight as to why so many conservatives don't seem to learn from past examples of being both wrong and in denial at the same time. They just refuse to learn from their mistakes. I guess ignorance IS bliss...for some people.

Talking about learning from mistakes let's , adress the first time the fuckers defaulted, circa 1935.

Back then the bastard hads printed to much paper money. When the people tried to redeem the same Uncle Sam couldn't and defaulted.

The Lesson was LEARN TO LIVE WITHIN YOUR MEANS.

The fuckers, of course, ignored it.

Hopefully losing their credit rating will force the mo'fo's to live withing their means.

.

You do understand, don't you, that YOU would also be personally screwed in your finances if the cost for you to borrow (and hence, pay back) money goes up? Is your political anger SO great that you would welcome that kind of news in your own personal life? What would you do then, blame Obama, when you, yourself, welcomed a default?

 

[Momanohedhunter]

I think your question might actually be an insight as to why so many conservatives don't seem to learn from past examples of being both wrong and in denial at the same time. They just refuse to learn from their mistakes. I guess ignorance IS bliss...for some people.

Talking about learning from mistakes let's , adress the first time the fuckers defaulted, circa 1935.

Back then the bastard hads printed to much paper money. When the people tried to redeem the same Uncle Sam couldn't and defaulted.

The Lesson was LEARN TO LIVE WITHIN YOUR MEANS.

The fuckers, of course, ignored it.

Hopefully losing their credit rating will force the mo'fo's to live withing their means.

.

You do understand, don't you, that YOU would also be personally screwed in your finances if the cost for you to borrow (and hence, pay back) money goes up? Is your political anger SO great that you would welcome that kind of news in your own personal life? What would you do then, blame Obama, when you, yourself, welcomed a default?

Don't borrow, and buy what you can pay for. Most preschoolers know that. Why is it so bad ?

 

[Mustang]

Talking about learning from mistakes let's , adress the first time the fuckers defaulted, circa 1935.

Back then the bastard hads printed to much paper money. When the people tried to redeem the same Uncle Sam couldn't and defaulted.

The Lesson was LEARN TO LIVE WITHIN YOUR MEANS.

The fuckers, of course, ignored it.

Hopefully losing their credit rating will force the mo'fo's to live withing their means.

.

You do understand, don't you, that YOU would also be personally screwed in your finances if the cost for you to borrow (and hence, pay back) money goes up? Is your political anger SO great that you would welcome that kind of news in your own personal life? What would you do then, blame Obama, when you, yourself, welcomed a default?

Don't borrow, and buy what you can pay for. Most preschoolers know that. Why is it so bad ?

I didn't say it's bad. It's fine for people who have money and/or don't owe money. But how many people don't have to borrow money to buy a home or a car?

 

[Mustang]

I wish some conservatives (because not ALL conservatives could possibly be THIS stupid) would join the reality-based world instead of just holding uninformed opinions that they've plucked off of some idiot's blog.

US default: Doomsday for investors

It's no joke. The sky over the investment world and everything under it -- including bonds, stocks, money markets, commodities, you name it -- will fall unless lawmakers raise the $14.3 trillion federal debt ceiling by Aug. 2.

It would be nothing less than catastrophic, and worse than the financial meltdown of the late 2000s, should Uncle Sam fail to raise the legal limit on government borrowing and instead default on U.S. debt, according to Greg McBride, a CFA charterholder and senior analyst for Bankrate.com. "There will be no safe haven," McBride said.

US default: Doomsday for investors - 1 - politics & debt limit - MSN Money

 

[CrusaderFrank]

So, Obama added 7% in debt in 2 years on top of the most massive baseline in human history.

Wow! Thanks Chris thats some awe inspiring statistic

 

[Contumacious]

I think your question might actually be an insight as to why so many conservatives don't seem to learn from past examples of being both wrong and in denial at the same time. They just refuse to learn from their mistakes. I guess ignorance IS bliss...for some people.

Talking about learning from mistakes let's , adress the first time the fuckers defaulted, circa 1935.

Back then the bastard hads printed to much paper money. When the people tried to redeem the same Uncle Sam couldn't and defaulted.

The Lesson was LEARN TO LIVE WITHIN YOUR MEANS.

The fuckers, of course, ignored it.

Hopefully losing their credit rating will force the mo'fo's to live withing their means.

.

You do understand, don't you, that YOU would also be personally screwed in your finances if the cost for you to borrow (and hence, pay back) money goes up? Is your political anger SO great that you would welcome that kind of news in your own personal life? What would you do then, blame Obama, when you, yourself, welcomed a default?

Look pal, we have been placed in a situation where can be srewed some or a lot.

If we continue the present course then when things deteriorate the bastards will claim that martial law is necessary and imposed socialism.

That is what scumbag FDR did in 1935.

Instead of abolishing the Federal Reserve Board and adhering to the gold standard he abandoned the latter and imposed fascism.

Those who cannot remember the past are condemned to repeat it", .... Santayana

.

 

[Wiseacre]

Don't know if Moody's or one of the other agencies will downgrade our credit rating, if they do it's going to hurt. Right now we pay over $200 billion/yr in interest payments. The CBO projects the debt interest to approach 1 trillion/yr in 10 years, but that's at todays low rates courtesy to the AAA rating. I don't think anyone really knows what the interest payments would be if we got downgraded, but one would assume it would not be minor. Say it goes up 50%, from around 3% to 4.5%, are we talking about 1.5 trillion in interest payments in 10 years? Do you really want to pay that much just on debt interest?

We don't have that much money guys, and we're not going to grow that fast. Not with the current policies in place thanks to Obama, and also the emerging markets around the world getting huge investments that we used to get. We need to get our stuff together, but it ain't happening.

 

[Contumacious]

I wish some conservatives (because not ALL conservatives could possibly be THIS stupid) would join the reality-based world instead of just holding uninformed opinions that they've plucked off of some idiot's blog.

US default: Doomsday for investors

It's no joke. The sky over the investment world and everything under it -- including bonds, stocks, money markets, commodities, you name it -- will fall unless lawmakers raise the $14.3 trillion federal debt ceiling by Aug. 2.

It would be nothing less than catastrophic, and worse than the financial meltdown of the late 2000s, should Uncle Sam fail to raise the legal limit on government borrowing and instead default on U.S. debt, according to Greg McBride, a CFA charterholder and senior analyst for Bankrate.com. "There will be no safe haven," McBride said.

US default: Doomsday for investors - 1 - politics & debt limit - MSN Money

I wish that the zombified would join the reality-based world instead of just holding uninformed opinions that they've plucked off of some communist idiot's blog.

.

 

[Momanohedhunter]

You do understand, don't you, that YOU would also be personally screwed in your finances if the cost for you to borrow (and hence, pay back) money goes up? Is your political anger SO great that you would welcome that kind of news in your own personal life? What would you do then, blame Obama, when you, yourself, welcomed a default?

Don't borrow, and buy what you can pay for. Most preschoolers know that. Why is it so bad ?

I didn't say it's bad. It's fine for people who have money and/or don't owe money. But how many people don't have to borrow money to buy a home or a car?

Thats what got us here. if you cant buy a home out right DON'T BORROW MONEY. Rent instead, if you cant afford a 2011 hot rod then buy a 2000 model of something you can afford. Credit is not a right.

 

[Mustang]

Don't know if Moody's or one of the other agencies will downgrade our credit rating, if they do it's going to hurt. Right now we pay over $200 billion/yr in interest payments. The CBO projects the debt interest to approach 1 trillion/yr in 10 years, but that's at todays low rates courtesy to the AAA rating. I don't think anyone really knows what the interest payments would be if we got downgraded, but one would assume it would not be minor. Say it goes up 50%, from around 3% to 4.5%, are we talking about 1.5 trillion in interest payments in 10 years? Do you really want to pay that much just on debt interest?

We don't have that much money guys, and we're not going to grow that fast. Not with the current policies in place thanks to Obama, and also the emerging markets around the world getting huge investments that we used to get. We need to get our stuff together, but it ain't happening.

I don't think interest rates would spike that much...at first. But there are also other considerations. Some funds which hold American securities require only the highest rated investments be a part of their holdings. If there were a downgrade in the US Gov't credit rating, they would divest their funds of US Gov't securities. And the value of our bonds would go down even if other funds did not dump US securities.

 

[Wiseacre]

Don't know if Moody's or one of the other agencies will downgrade our credit rating, if they do it's going to hurt. Right now we pay over $200 billion/yr in interest payments. The CBO projects the debt interest to approach 1 trillion/yr in 10 years, but that's at todays low rates courtesy to the AAA rating. I don't think anyone really knows what the interest payments would be if we got downgraded, but one would assume it would not be minor. Say it goes up 50%, from around 3% to 4.5%, are we talking about 1.5 trillion in interest payments in 10 years? Do you really want to pay that much just on debt interest?

We don't have that much money guys, and we're not going to grow that fast. Not with the current policies in place thanks to Obama, and also the emerging markets around the world getting huge investments that we used to get. We need to get our stuff together, but it ain't happening.

I don't think interest rates would spike that much...at first. But there are also other considerations. Some funds which hold American securities require only the highest rated investments be a part of their holdings. If there were a downgrade in the US Gov't credit rating, they would divest their funds of US Gov't securities. And the value of our bonds would go down even if other funds did not dump US securities.

I haven't heard any estimates for where interest rates would go if we (USA) got downgraded. I assume it would only be down one notch to AA, but I don't really know what that might mean. Probably no one does, cuz it's us and we're kind of the elephant in the room of world economies.

 

[Mustang]

Don't know if Moody's or one of the other agencies will downgrade our credit rating, if they do it's going to hurt. Right now we pay over $200 billion/yr in interest payments. The CBO projects the debt interest to approach 1 trillion/yr in 10 years, but that's at todays low rates courtesy to the AAA rating. I don't think anyone really knows what the interest payments would be if we got downgraded, but one would assume it would not be minor. Say it goes up 50%, from around 3% to 4.5%, are we talking about 1.5 trillion in interest payments in 10 years? Do you really want to pay that much just on debt interest?

We don't have that much money guys, and we're not going to grow that fast. Not with the current policies in place thanks to Obama, and also the emerging markets around the world getting huge investments that we used to get. We need to get our stuff together, but it ain't happening.

I don't think interest rates would spike that much...at first. But there are also other considerations. Some funds which hold American securities require only the highest rated investments be a part of their holdings. If there were a downgrade in the US Gov't credit rating, they would divest their funds of US Gov't securities. And the value of our bonds would go down even if other funds did not dump US securities.

I haven't heard any estimates for where interest rates would go if we (USA) got downgraded. I assume it would only be down one notch to AA, but I don't really know what that might mean. Probably no one does, cuz it's us and we're kind of the elephant in the room of world economies.

It's uncharted water.

Speaking of water, that's probably a good analogy.

What things does a smart person who's not the best swimmer in the world want to know about a water hole when he comes to it? At least he wants to know how deep it is before he jumps in. Now if a lone fool who can't swim wants to jump in with nobody around to save him, what could anyone do to stop him? Nothing. But should smart people allow that idiot to convince everyone else to go in, especially involuntarily? It's a stupid question, isn't it?

If conservative Republicans could somehow embrace default and the consequences of default ONLY FOR THEMSELVES, with nobody else being affected, I would say have at it. GO FOR IT!!! But I certainly don't welcome having MY financial future placed in jeopardy just so conservatives can conduct some kind of economic social experiment.

 

[Contumacious]

I don't think interest rates would spike that much...at first. But there are also other considerations. Some funds which hold American securities require only the highest rated investments be a part of their holdings. If there were a downgrade in the US Gov't credit rating, they would divest their funds of US Gov't securities. And the value of our bonds would go down even if other funds did not dump US securities.

I haven't heard any estimates for where interest rates would go if we (USA) got downgraded. I assume it would only be down one notch to AA, but I don't really know what that might mean. Probably no one does, cuz it's us and we're kind of the elephant in the room of world economies.

It's uncharted water.

Speaking of water, that's probably a good analogy.

What things does a smart person who's not the best swimmer in the world want to know about a water hole when he comes to it? At least he wants to know how deep it is before he jumps in. Now if a lone fool who can't swim wants to jump in with nobody around to save him, what could anyone do to stop him? Nothing. But should smart people allow that idiot to convince everyone else to go in, especially involuntarily? It's a stupid question, isn't it?

If conservative Republicans could somehow embrace default and the consequences of default ONLY FOR THEMSELVES, with nobody else being affected, I would say have at it. GO FOR IT!!! But I certainly don't welcome having MY financial future placed in jeopardy just so conservatives can conduct some kind of economic social experiment.

Been there , done that, got the t-shirt.

I , AGAIN - remind you that the US defaulted - declared bankruptcy in 1935.

FDR and his statist and socialist cronies went much further than that, however. Rather than simply reducing the gold content in the U.S. dollar (as kings had done throughout history) and rather than simply making the federal government’s bills and notes legal tender, the federal government went much further down the road that Nazi Germany, fascist Italy, and the communist Soviet Union were traveling.

By confiscating gold, making gold ownership illegal, and making its bills and notes irredeemable (in terms of what they had promised to pay), the federal government was doing its best to ensure that the American people could never protect themselves from the government’s ability to plunder and loot them through the Federal Reserve System’s inflationary policies.

Economic Liberty and the Constitution, Part 10

.

 

[Mustang]

I haven't heard any estimates for where interest rates would go if we (USA) got downgraded. I assume it would only be down one notch to AA, but I don't really know what that might mean. Probably no one does, cuz it's us and we're kind of the elephant in the room of world economies.

It's uncharted water.

Speaking of water, that's probably a good analogy.

What things does a smart person who's not the best swimmer in the world want to know about a water hole when he comes to it? At least he wants to know how deep it is before he jumps in. Now if a lone fool who can't swim wants to jump in with nobody around to save him, what could anyone do to stop him? Nothing. But should smart people allow that idiot to convince everyone else to go in, especially involuntarily? It's a stupid question, isn't it?

If conservative Republicans could somehow embrace default and the consequences of default ONLY FOR THEMSELVES, with nobody else being affected, I would say have at it. GO FOR IT!!! But I certainly don't welcome having MY financial future placed in jeopardy just so conservatives can conduct some kind of economic social experiment.

Been there , done that, got the t-shirt.

I , AGAIN - remind you that the US defaulted - declared bankruptcy in 1935.

FDR and his statist and socialist cronies went much further than that, however. Rather than simply reducing the gold content in the U.S. dollar (as kings had done throughout history) and rather than simply making the federal government’s bills and notes legal tender, the federal government went much further down the road that Nazi Germany, fascist Italy, and the communist Soviet Union were traveling.

By confiscating gold, making gold ownership illegal, and making its bills and notes irredeemable (in terms of what they had promised to pay), the federal government was doing its best to ensure that the American people could never protect themselves from the government’s ability to plunder and loot them through the Federal Reserve System’s inflationary policies.

Economic Liberty and the Constitution, Part 10

.

Tell me that you're not comparing going off the gold standard to truly defaulting on our debt obligations!

 

[Contumacious]

It's uncharted water.

Speaking of water, that's probably a good analogy.

What things does a smart person who's not the best swimmer in the world want to know about a water hole when he comes to it? At least he wants to know how deep it is before he jumps in. Now if a lone fool who can't swim wants to jump in with nobody around to save him, what could anyone do to stop him? Nothing. But should smart people allow that idiot to convince everyone else to go in, especially involuntarily? It's a stupid question, isn't it?

If conservative Republicans could somehow embrace default and the consequences of default ONLY FOR THEMSELVES, with nobody else being affected, I would say have at it. GO FOR IT!!! But I certainly don't welcome having MY financial future placed in jeopardy just so conservatives can conduct some kind of economic social experiment.

Been there , done that, got the t-shirt.

I , AGAIN - remind you that the US defaulted - declared bankruptcy in 1935.

FDR and his statist and socialist cronies went much further than that, however. Rather than simply reducing the gold content in the U.S. dollar (as kings had done throughout history) and rather than simply making the federal government’s bills and notes legal tender, the federal government went much further down the road that Nazi Germany, fascist Italy, and the communist Soviet Union were traveling.

By confiscating gold, making gold ownership illegal, and making its bills and notes irredeemable (in terms of what they had promised to pay), the federal government was doing its best to ensure that the American people could never protect themselves from the government’s ability to plunder and loot them through the Federal Reserve System’s inflationary policies.

Economic Liberty and the Constitution, Part 10

.

Tell me that you're not comparing going off the gold standard to truly defaulting on our debt obligations!

HUH?

WTF?

Tell me that you understand that the FEDERAL GOVERNMENT REFUSED TO HONOR ITS DEBT OBLIGATIONS WHEN IT REFUSED TO HONOR GOLD CERTIFICATES BECAUSE IT HAD ISSUED TOO MANY

When Liabilities exceed assets you are bankrupt. Plain and simple,

Over and out.

.

 

[skookerasbil]

Yeah...........Moody's..........impressive. Where the fcukk were they in the early fall of 2008?

 

[Momanohedhunter]

I don't think interest rates would spike that much...at first. But there are also other considerations. Some funds which hold American securities require only the highest rated investments be a part of their holdings. If there were a downgrade in the US Gov't credit rating, they would divest their funds of US Gov't securities. And the value of our bonds would go down even if other funds did not dump US securities.

I haven't heard any estimates for where interest rates would go if we (USA) got downgraded. I assume it would only be down one notch to AA, but I don't really know what that might mean. Probably no one does, cuz it's us and we're kind of the elephant in the room of world economies.

It's uncharted water.

Speaking of water, that's probably a good analogy.

What things does a smart person who's not the best swimmer in the world want to know about a water hole when he comes to it? At least he wants to know how deep it is before he jumps in. Now if a lone fool who can't swim wants to jump in with nobody around to save him, what could anyone do to stop him? Nothing. But should smart people allow that idiot to convince everyone else to go in, especially involuntarily? It's a stupid question, isn't it?

If conservative Republicans could somehow embrace default and the consequences of default ONLY FOR THEMSELVES, with nobody else being affected, I would say have at it. GO FOR IT!!! But I certainly don't welcome having MY financial future placed in jeopardy just so conservatives can conduct some kind of economic social experiment.

Borrow money to pay off debt. How does that make sense ?