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Unfolding Nature Shop: Unfolding Nature: Being in the Implicate Order

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US loses AAA credit rating after S&P downgrade
    #14878408 -

One of the top credit rating agencies, Standard & Poor's, has downgraded the United States' top-notch AAA rating for the first time ever.

S&P cut the long-term US rating by one notch to AA+ with a negative outlook, citing concerns about budget deficits.

The agency said the deficit reduction plan passed by the US Congress on Tuesday did not go far enough.

Washington was locked in months of acrimonious partisan bickering over a bill to raise the US debt ceiling.

As rumours swirled earlier about the downgrade, unnamed officials in Washington had told US media that S&P's analysis of the American economic situation was deeply flawed.

Correspondents say a downgrade could further erode global investors' confidence in the world's largest economy, which is already struggling with huge debts, unemployment of 9.1%, and beset by fears of a possible double-dip recession.

S&P said in its report issued late on Friday: "The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the administration recently agreed to falls short of what, in our view, would be necessary to stabilise the government's medium-term debt dynamics.

"More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges."



:haha:

What does this mean besides higher loans ?


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I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain.


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Re: US loses AAA credit rating after S&P downgrade [Re: trekie]
    #14878459 -

Quote:
What does this mean besides higher loans ?


Its going to be more difficult to pass our financial buck off to our children.

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Re: US loses AAA credit rating after S&P downgrade [Re: trekie]
    #14878474 -

it will mean a lot for cities across america that have to borrow money to keep their services up and running (think libraries, community centers, police and fire departments).

i just listened to a fairly interesting podcast about a city in Rhode Island that has declared bankruptcy (Central Falls). give it a listen: http://onpoint.wbur.org/2011/08/04/central-falls-goes-broke


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"We are all intoxicated. We were born into an insane asylum, a world crazy-making. We believe what we see and hear. The real myth is the myth of sanity, of rationality: it's a disease that is eating away at the earth. All the poisons flow from our denial. We deny madness, we forget our crimes, we dismember the corpse, we imprison our children. We need poison to poison the poison, to remember the sacred nature of intoxication, the green body of the young god." ~ Dale Pendell

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Re: US loses AAA credit rating after S&P downgrade [Re: DieCommie]
    #14878477 -

so after all the bullshit we loose the rating anyway.  Looks like obama was the one that won not the teaparty.  Had we lost the rating before the bill passed the teaparty might have pressured obama into including a real budget into the budget bill


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We were sent to hell for eternity :hellfire: Ø:omgawesome:h®
We play on earth to pass the time :foreheadslap:

Over-population the root of all Evil-brings the Elites Closer to the gates.

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Re: US loses AAA credit rating after S&P downgrade [Re: gerryjarcia] * 1
    #14878483 -

now america will go broke faster thats terrific:yuno:


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Re: US loses AAA credit rating after S&P downgrade [Re: Coaster] * 2
    #14878495 -

Coaster said:
now america will go broke faster thats terrific:yuno:


yeah man, the parties over in the good old USofA. checks on the table.


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"We are all intoxicated. We were born into an insane asylum, a world crazy-making. We believe what we see and hear. The real myth is the myth of sanity, of rationality: it's a disease that is eating away at the earth. All the poisons flow from our denial. We deny madness, we forget our crimes, we dismember the corpse, we imprison our children. We need poison to poison the poison, to remember the sacred nature of intoxication, the green body of the young god." ~ Dale Pendell

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Re: US loses AAA credit rating after S&P downgrade [Re: Coaster]
    #14878503 -

i love how they are so concerned about their credit rating.

its kinda ironic justice for allowing all the fucked up shit ie: altered  sub prime loans and a slew of other bullshit that they happen..

let the big government feel what the common man feels when their credit score gets fucked.


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Re: US loses AAA credit rating after S&P downgrade [Re: rackem]
    #14878530 -

the common man is going to feel this downgrade yo


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Re: US loses AAA credit rating after S&P downgrade [Re: Coaster]
    #14878537 -

I don't know and I don't care

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Re: US loses AAA credit rating after S&P downgrade [Re: Coaster] * 1
    #14878552 -

i dont agree with that..

we are already in a fucked position

so whats gonna be so new about this?

less jobs? less unemployment?

it just seems like par for the course..

not doomsday shit your pants were all gonna die scenario


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Re: US loses AAA credit rating after S&P downgrade [Re: trekie]
    #14878562 -

markets run on confidence. it is key to the functioning and growth of the market. what S&P , and other credit rating companies do, is essentially ' rate ' securities and financial products (investments), basically from 'safe' to 'risky' with AAA being the best. the downgrade means that essentially S&P and as a flow on effect majority of the market have lost confidence in U.S. investments.


loss of confidence can spread like wildfire through an economy, and even ripple out from the crisis point to the world economy. which is what we are seeing now. america had their ' wtf default bbq ' crisis, lost 500 basis points in one day, then this spread on around the world with markets all around the world also taking significant loss, i.e. australia lost $50bn. it is contageous, as people start thinking ' oh shit , america is going bust, i better get out now, sell, sell, sell '.

and when everyone sells together, the value starts dropping as people start dumping the stocks/securities.

Also generally the 'mere mortal' investors tend to follow in the footsteps of the big firms and central banks, being the ' financial gods ' with all their funds to research and interpret results etc. so when they start selling something and dumping something, everyone else go ' holy shit, something big is going on here, i gotta get out '. or when the central bank releases a particularly strongly worded statement in relation to interest rates , again it makes investors shit bricks.


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Re: US loses AAA credit rating after S&P downgrade [Re: Coaster] * 1
    #14878564 -

yah the people in government will be getting mad raises for the good work that they've done.  If they were getting paid $8.50 an hour i bet they would be doing a much better job than they are.  They are supposed to be working for the common man, how can they serve us if they have never been us and want nothing to do with us other than emptying our pockets


--------------------
We were sent to hell for eternity :hellfire: Ø:omgawesome:h®
We play on earth to pass the time :foreheadslap:

Over-population the root of all Evil-brings the Elites Closer to the gates.

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Re: US loses AAA credit rating after S&P downgrade [Re: makaveli8x8]
    #14878951 -

not a good thing

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Re: US loses AAA credit rating after S&P downgrade [Re: makaveli8x8]
    #14878977 -

makaveli8x8 said:
yah the people in government will be getting mad raises for the good work that they've done.  If they were getting paid $8.50 an hour i bet they would be doing a much better job than they are.  They are supposed to be working for the common man, how can they serve us if they have never been us and want nothing to do with us other than emptying our pockets


This doesn't even make sense. Additionally, the debt has to do with things we've already consumed in the past. Those things are huge contracts to Haliburton, Northrup Grummen, Booz Allen, et al. Additionally, they ran that debt by borrowing against social security. So, we are getting fucked twice here. Once by them stealing social security money to pay for bullshit expenses and then the second time when they have to raise taxes so we can pay ourselves back for the thing we already paid for once...

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Re: US loses AAA credit rating after S&P downgrade [Re: DeadHearts] * 1
    #14878978 -

all of this because of a centralized banking system...

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Re: US loses AAA credit rating after S&P downgrade [Re: unam sanctum]
    #14879037 -

unam sanctum said:
all of this because of a centralized banking system...


FACT.

I've come to the conclusion that "our" government is working for our creditors. They're deliberately accumulating debt in order to drive us into bankruptcy so that they can foreclose on the country.

All US dollars are borrowed into existence at interest. Therefore there is always more debt than money. The Federal Reserve creates "money" out of nothing for the cost of the ink and paper. Once there is more debt than can ever be paid back, they can take real property for nothing more than the cost of printing green paper.

This whole debate about the debt ceiling was nothing more than a sham, and its whole intent was to dig us deeper into the hole.

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Re: US loses AAA credit rating after S&P downgrade [Re: Yacub]
    #14879068 -

thats the way things have always been, and it's the way majority of the world operates also. it's just things have gotten a bit out of control. national debt and current/capital account deficits are generally not much of a problem as long as they are kept inline with inflation. the dollar figure is generally not the issue.


people calling for the removal of central banks are short sighted and unrealistic. it is the lynch pin and keystone to each countries finiancial system, and has been for decades. they co-ordinate the world economies and link the world economies. it is simply not realistic to say ' remove the central banks ' , because then how would the worlds economies function?


it's like people who say ' there should be no government '. yes, thats all well and good, but what do you do once you've removed the government? let it spiral down into survival of the fittest?


there is no point recomending such a change without atleast providing for an alternative solution, it's just like the war in iraq. ' we're gone kill saddam and get them weapons 'a mass destruction ...... and we ain't gone do shit afterwards to fix it '. one step forward and two steps back.


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Re: US loses AAA credit rating after S&P downgrade [Re: Dosile Kouki]
    #14879076 -

DosileFlynn said:
thats the way things have always been, and it's the way majority of the world operates also. it's just things have gotten a bit out of control. national debt and current/capital account deficits are generally not much of a problem as long as they are kept inline with inflation. the dollar figure is generally not the issue.


people calling for the removal of central banks are short sighted and unrealistic. it is the lynch pin and keystone to each countries finiancial system, and has been for decades. they co-ordinate the world economies and link the world economies. it is simply not realistic to say ' remove the central banks ' , because then how would the worlds economies function?


it's like people who say ' there should be no government '. yes, thats all well and good, but what do you do once you've removed the government? let it spiral down into survival of the fittest?


there is no point recomending such a change without atleast providing for an alternative solution, it's just like the war in iraq. ' we're gone kill saddam and get them weapons 'a mass destruction ...... and we ain't gone do shit afterwards to fix it '. one step forward and two steps back.



I disagree with you.

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Re: US loses AAA credit rating after S&P downgrade [Re: DeadHearts]
    #14879086 -

i understand. i'm interested to know in what ways or on what points you disagree with specifically.


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Re: US loses AAA credit rating after S&P downgrade [Re: Dosile Kouki]
    #14879110 -

For starters it's not "how things have always been."

Secondly you have no issue putting your trust into private institutions which are for profit, who "co-ordinate and link the worlds economies?"

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Unfolding Nature Shop: Unfolding Nature: Being in the Implicate Order

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