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Us Credit Rating Downgraded
| Good [+1]Toggle ReplyLink» DynV replied on Wed Aug 10, 2011 @ 9:17pm |
 Coolness: 108830 | Originally Posted By MTGREYLOCK82
The military provides hundreds of thousands of jobs and is basically the only major industry in many (mostly Southern) states. It's no coincidence that most of our powerful Senators come from those very states. So you believe your country police the world to give your south jobs? |
| I'm feeling <3 sexi_babe_69 right now.. | |
| Good [+1]Toggle ReplyLink» Max_x2 replied on Wed Aug 10, 2011 @ 11:39pm |
 Coolness: 33925 | Originally Posted By BONUSBEATS
Their credit rate has been downgraded to AA+ it's all over the news Sorry man, missed that one i guess. I was more into the actual debt latelly... It's fucked up how deep they are. So basically, i missed the whole point of the thread, reading what other guyz were sayin' ;) |
| I'm feeling master kush'd right now.. | |
| Good [+1]Toggle ReplyLink» MtGreylock82 replied on Thu Aug 11, 2011 @ 6:42am |
 Coolness: 28340 | DynV, partly yes. Conservatives in my country see the military as one of the few legitimate governmental programs to fund and they spare no expense doing so. If you noticed in the graph that one of the members provided above...under the last four Republican Administrations ( Ford, Reagan, Bush I and II) the deficit zooms upward because they hike military spending while slashing taxes hence the deficit. They do this for four reasons. 1) finance their adventures into countries who dare to stand up to us. 2) provide jobs to their constituents (80% of military members are Conservative Republicans) 3) to make sure that when the Democrats return to power..they don't have the tax money to fund frivolous (in their mind) programs like health care, education etc. without imposing huge taxes increases which always angers the public (see 1994/2010 election). 4) to minimize as much as possible the amount people can benefit from existing programs (student aid, infrastructure etc). This formula has worked for decades for the GOP and may very well boot Obama from office next year if he doesn't decide to finally stand up to them. Don't hold your breath on that one lol.
BTW, saw on the news this morning that S&P is poised to downgrade the US yet again in a few months as well as France. |
| I'm feeling carrefour right now.. | |
| Good [+2]Toggle ReplyLink» basdini replied on Thu Aug 11, 2011 @ 7:43am |
 Coolness: 145225 | S&P, moodies and fitch (the big three rating agencies) need to be investigated for their role in the crisis of 08, remember these pricks were rating things like lehman brothers derivatives as triple A until literally 5 minutes before they took the plunge this is a criminal conspiracy in restraint of trade and a violation of anti trust laws. They should all be paid a visit by the FBI or the district attorney of their respective locations. We could learn a lot from this italian magistrate Michael Ruggiero from Trani who raided the local offices of the rating agencies Moody's and S&P, indeed he seized a bunch of documents from them. (more about this here [ www.reuters.com ] )
Also, the rating agencies have a quasi governmental role, how this was allowed to happen i don't know. This is how it works, all kinds of pension funds in the states (so this could be the pension fund for a union or maybe something like the pension fund for the workers of a part of the government say the pension for the national park workers or something like that), these pension funds aren't allowed (by law) to invest in anything that is a security that is not rated by these rating agencies as triple A (so this could be the commercial paper of a corporation or even bonds of a municipality). This needs to come to an end. What it comes down to is that the United States government shouldn't live or die at the mercy of these pathetic and incompetent wallstreet rating agencies. |
| I'm feeling surly right now.. | |
| Good [+1]Toggle ReplyLink» DynV replied on Thu Aug 11, 2011 @ 11:38am |
| Coolness: 108830 | MtGreylock82 I'm glad you use the white box analysis while on the other hand use the black box one.
Your country was indeed very courageous on its first attempts at thwart the British empire to insure its sovereignty. I'm not so sure what happened after that that got them so greedy, probably just the good ol' humanity... But for a while your country has been leading a very powerful empire both as strategists and tacticians. The goal is very simple, remain on top by a considerable advance of all other countries so it can basically do whatever it wants ; such are empires. I have met idiots in my lifetime that plead forgiveness about the past so that others might fall for their strategy, which is soft-power. Well those with a bit of judgment know that past speak much more about the present than words of the present plans. Just like businesspersons might talks about restructurings and this or that while their plan is to run the business to the ground while spending business money personally to re-open in 6 months under another family, or very close fiend, name. Using of course pretty much the same tactics. |
| I'm feeling <3 sexi_babe_69 right now.. | |
| Good [+1]Toggle ReplyLink» databoy replied on Thu Aug 11, 2011 @ 12:46pm |
 Coolness: 106140 | |
| I'm feeling shiraz right now.. | |
| Good [+1]Toggle ReplyLink» MtGreylock82 replied on Thu Aug 11, 2011 @ 5:45pm |
| Coolness: 28340 | DynV, my friend (mon ami), my country was founded on greed! Courage had nothing to do with why we left the British Empire in 1776. It was economic self-interest. We were incensed that we had to pay higher taxes (although our tax burden was 1/4 of the average British citizen) to London, plus they were blocking our attempts of westward expansion. So we said the hell with you....and by chance we succeeded. For the next 150 years, we acquired territory by pushing people around who did not have the means to stand up for themselves. If you study how we acquired places like Florida, Texas, the West and Hawaii, you would be amazed at how underhanded we were in getting those areas.
Our era of dominance is at an end however thanks to dysfunctional leadership, a pathetic educational system and a depleted treasury. Within 5 years, China will be the largest economy, 30 years the principal reserve currency, and in 50 years the dominant military power. The position as the reserve currency of choice was our true path to global power after 1940 when Europe destroyed their economic position and we were the last major (capitalist) country standing. China learned this lesson well and are fast becoming the world's banker (they already hold most of our debt). And folks...prepare yourself of the possibility of another Governor of Texas being President in 2013. [ www.governor.state.tx.us ] .This man makes George W. Bush look like a Rhode Scholar. |
| I'm feeling carrefour right now.. | |
| Good [+1]Toggle ReplyLink» Trey replied on Thu Aug 11, 2011 @ 6:28pm |
 Coolness: 102790 | The US has to cut 1 trillion $$$ in 10 years. Everything will be cut: Health Care, Social Security, and the Defense budget.
Obviously their credit should be downgraded: Your rich friend that always borrow money from you.. you said ok but he never pays you back. You then think well... he's rich, he will pay me. Still doesn't pay you. You said to yourself, well, he has a few nice cars, I'll take one if he can't pay me back. On the other hand if everyone stop lending him money, and just take all his nice stuff, he can't throw dubstep parties anymore. You will still invest, I mean lend him money... but you won't trust him as much when he's asking for favour. So your other friends step up, India, who's going to start throwing psytrance parties but theirs will be really dirty and slumy. Or China with their break beats parties, but they're only doing for the money. Brasil can do a few ghetto tech... you get the idea. |
| Good [+1]Toggle ReplyLink» basdini replied on Fri Aug 12, 2011 @ 1:41am |
| Coolness: 145225 | lol |
| I'm feeling surly right now.. | |
Us Credit Rating Downgraded
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