Discussion in 'Politics' started by Flopper, Jul 27, 2011.
these same credit agencies had AIG as AAA a few days before they imploded
Not much. They've been consistently wrong for many years. They gave Fannie Mae and Freddy Mac excellent Credit Ratings for many years. They were absolutely clueless as to the coming catastrophic Economic Collapse. They want to downgrade,than so be it. The Country will survive it. Way too much credibilty is being given to these Agencies. They're wrong most of the time. So they can't scare me.
I think the right wants more disaster capitalism in the US
when was the right correct on anything in the last 30 years?
Yes they're wrong most of the time. Some Politicians are just using these bogus Credit Rating Agencies to scare the People. It is working on many unfortunately. These bogus Credit Ratings Agencies can't scare me though. Because i know they're full of shit most of the time. People just need to quit being so afraid and start getting informed. These Politicians count on the sheep being spooked and uninformed. The last thing they want is for people to get informed. They know their house of cards would fall if that happened. Just don't let them scare you. Not raising the Debt Limit wont be the end of America. That's just Bullshit.
It's their ticket to the White House which is all they care about.
Looks folks those debt instruments are underpinning a lot of balance sheets.
If the debt's value significantly falls on secondary markets dominos are going to start falling.
Those t-bills are counted as good as cash.
If the debt market loses that confidence in them molly bar the door.
I do not think that this will happen, but if it does, those of you who are now whistling in the dark are going to be in for a rude awakening.
Standard and Poors said the chances of a downgrade is about 50/50. If we're downgraded, it will probably be to AA or A. If they go further than that then US bonds would not be considered investment grade and that would be a bigger disaster than even imagined by the Tea Party.
If we are downgraded the following countries will be consider a safer place for your money because they are AAA rated.
Who cares s0n??!!!! The whole kit and kaboodle goes back to the right next year. Not bad for not getting anything right for the past 30 years!! We'll take it thanks......
If the debt ceiling is not raised we would eventually default on much of our debt. The Tea Party would get what they want, about 1/3 of the the government would totally disappear quite abruptly. That would suck about 1.5 trillion dollars out of the economy and a couple of hundred thousand government jobs along with many millions in the private sector, state, and local government jobs that depend on the federal government.
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