View Full Version : S&P downgrades US credit rating
Big Wall
08-06-2011, 17:48
S&P has downgraded the US credit rating from AAA to AA+. Granted they are only 1 of the 3 major credit rating agencies, but it is not a good sign. Hopefully this will get the government moving on a balanced budget amendment to the constitution.
clublights
08-06-2011, 17:59
thought it was AA+
Big Wall
08-06-2011, 18:06
You're absolutely correct. I fixed my post.
This downgrade may amount to nothing economically but should be a hammer blow to Obama.
clublights
08-06-2011, 18:09
I think it's all gunna be smoke and mirrors.
I think the S&P did it purely politically motivated.
Doubt things will change much. I would love to see things turn around where the .gov could put money into reserves and not spend more than they bring in.
hollohas
08-08-2011, 11:32
The Bama administration is going to let this slide by without trying to capitalizing on it...they are blaming it on the Tea Party.
Well the Tea Party did it, they crashed the market through their insanity. Good job... party over country
UberTong
08-08-2011, 12:07
Well the Tea Party did it, they crashed the market through their insanity. Good job... party over country
Dude I knew it was coming. I've steered clear of 'jumping on you' for a while, but you deserve it on this one. You lecture all of us about regurgitating what is heard on "Feaux news" , but here you are Mr. John Kerry doing the same shit. Get bent dude. Yep nynco, it was the tea party and bush and and and and and...gtfo.
sneakerd
08-08-2011, 12:09
Yeah- it's all the Tea Parties fault, for demanding reduced spending and fighting the lifting of the debt ceiling. It has absolutely nothing to do with the damn Democrats. It's actually all Bush's fault.
Don't feed the troll uber.
Quite simply threatening to default on our debt is party over country stuff.
I see the Teaparty and the right wing extremists getting tossed. Mainly by the wallstreet people who backed them. Unless they decided to use the Tea Party and then bet against the US markets falling.
tmleadr03
08-08-2011, 12:12
The Tea Party said "NOT ENOUGH SPENDING CUTS!"
S&P downgrades the US's credit rating for spending too much.
Democrats claim it's the Tea Party's fault.
sneakerd
08-08-2011, 12:13
nynco is truly not worth talking to. I'm going to try to stay out of any discussion he's on. Might try that ignore button too.
UberTong
08-08-2011, 12:14
Don't feed the troll uber.
Yep youre right Graves. I'm havin a hell of a day and want to throw down. I'm gonna go home now and try and Gooooooooooz-Fra-BAAA...-Anger management
Yeah its all Obama and the Dems fault...........
UberTong
08-08-2011, 12:18
Quite simply threatening to default on our debt is party over country stuff.
Ignoring the rest of your verbal diarrhea, you're really going to come out with party over country?
I could not have thought of a better slogan for you and Barry Obummer in 2012. "Party over country". That's all that crook has done, you support those people with your bullshit thought process. YOU are the problem today.
I support neither. I just see the one side not wanting to compromise at all. It was their way or default. Well playing chicken with our national interests has consequences.
tmleadr03
08-08-2011, 12:23
nynco is truly not worth talking to. I'm going to try to stay out of any discussion he's on. Might try that ignore button too.
Only works if people stop quoting him.
There is quite a bit more going on than just the AA+ rating. Yes, it does matter actually. I don't know if anyone has any money in the market, but we do and my wife watches it like a hawk. I don't know if any of you know, but thursday the market took it's biggest drop since september of 08'. The AA+ downgrade rating itself made the market take another 6% drop. Now for those of you who don't play the market or pay any attention to it, fine, it doesn't mean anything till you see its impact hit you at home. For those that do play the market, you know it was important, and if you don't, I'd stop playing it.
All in all, it is important. Can the gov. do something about it and correct itself? Yes. Will they? Probably not. A bunch of people said it was nothing in August and September when the market was starting to tank also, they were wrong also.
I'm not saying to freak out or anything about it, just simply that it is actually something to take note of.
tmleadr03
08-08-2011, 12:37
All in all, it is important. Can the gov. do something about it and correct itself? Yes. Will they? Probably not. A bunch of people said it was nothing in August and September when the market was starting to tank also, they were wrong also.
I'm not saying to freak out or anything about it, just simply that it is actually something to take note of.
Strikes me as a good time to start upping your investment in the market. It will go back up again in the future. Just may be a while.
ShooterJM
08-08-2011, 12:38
The debt ceiling issue was all political grandstanding. The downgrade has almost nothing to do with it, nor the evil bogeyman of "omigawdweregonnadefault!".
S&P has been warning publicly since April, and implying since before then, that a downgrade was imminent. They're actually the 3rd house to do it, but they are the first of the big 3. Politically they threw the WH a bone by doing it after close on Friday.
US downgrade will be followed by GSAs, States, Munis, large insurance companies, and large pension funds.
No, not right now. Wait, it will get worse. Then, yes, buy buy buy. There were more billionaires made in the gread depression than any other time (not joking, it's a fact). My wife took $2400 (all we had at the time to spare) two years ago in November and made enough to pay off my student loans, roughly 38k and still had some left to buy a nice Volvo and a few other things. There were a whole lot more billionaires made during that last fall following September 08' also.
The debt ceiling issue was all political grandstanding. The downgrade has almost nothing to do with it, nor the evil bogeyman of "omigawdweregonnadefault!".
S&P has been warning publicly since April, and implying since before then, that a downgrade was imminent. They're actually the 3rd house to do it, but they are the first of the big 3. Politically they threw the WH a bone by doing it after close on Friday.
US downgrade will be followed by GSAs, States, Munis, large insurance companies, and large pension funds.
Saying something is going to happen is not the same as it actually happening. There are people saying that it should have happened a while ago but they were just being nice by not dropping it sooner. Talk matters somewhat, but actions matter most.
n8tive97
08-08-2011, 12:53
Yeah its all Obama and the Dems fault...........
The most honest thing you have ever typed!
Yeah its all Obama and the Dems fault...........
You are learning
Despite Moody and Fitch, S&P at least had a guts to downgrade the rating.
Moody is probably the last one to downgrade the rating, because Berkshire has majority of the stake in them.
Oh yes. Fannie and Freddy got a downgrade today as well from Standard & Poor. :D
http://finance.yahoo.com/news/SampP-to-review-ratings-for-apf-1344749763.html?x=0
tmleadr03
08-08-2011, 13:02
Despite Moody and Fitch, S&P at least had a guts to downgrade the rating.
Moody is probably the last one to downgrade the rating, because Berkshire has majority of the stake in them.
Oh yes. Fannie and Freddy got a downgrade today as well from Standard & Poor. :D
http://finance.yahoo.com/news/SampP-to-review-ratings-for-apf-1344749763.html?x=0
We may not see the stock market circuit breakers pop, but I bet we see a steady decline for the rest of the week.
tmleadr03
08-08-2011, 13:07
Probably appropriate to this thread:
W4hfdaC7eL4
I support neither. I just see the one side not wanting to compromise at all. It was their way or default. Well playing chicken with our national interests has consequences.
You say you support neither side, but talking about how it's all Bush's fault, it's all the tea party's fault... sounds like you side with Obama, considering you don't do much to claim he's doing a whole hell of a lot wrong... quick wake up call: He's doing a lot more wrong than any dem will ever admit- he makes Bush look like a old woman being extremely conservative with her pocket book.
hollohas
08-08-2011, 14:11
@Nynco,
The credit downgrade was a result of decades of governmental deficit spending, massive debt and overall refusal to fix it. Last week the .gov decided to make the problem worse by not cutting enough, taking another big ass loan without a plan to pay it off and refusing to agree to having a balanced budget. Ah, but here's nynco pulling talking points right from the extreme liberals. "It's the Tea Party's fault"....HA! You're so full of it. And you tell us you're not biased...
You think anyone would give you a loan when your budget shows you have spent more than you made for decades? Hell no they wouldn't. The government took one even though they have no reason to believe they could ever pay it off. That's why the credit took a ding...not because of some Tea Party peeps that wanted to CUT SPENDING and BALANCE THE BUDGET.
I have enjoyed debating your differing viewpoint in past threads but now you just proved you're so biased that you're not worth discussing things with. You're opinion now has zero credibility. Congratulations, you're the first on my ignore list.
In other news, all AAA rated countries now have socialized medicine.
H.
tmleadr03
08-08-2011, 14:16
Well, that didn't hurt that bad.
http://www.google.com/finance/chart?cht=c&q=INDEXDJX:.DJI,INDEXSP:.INX,INDEXNASDAQ:.IXIC&tlf=12h
Dow -634.76 (-5.55%)
S&P -79.92 (-6.66%)
Nasdaq -174.72 (-6.90%)
Probably appropriate to this thread:
W4hfdaC7eL4
They pulled the video already.[Bang][Rant2]
hollohas
08-08-2011, 15:28
Well, that didn't hurt that bad.
http://www.google.com/finance/chart?cht=c&q=INDEXDJX:.DJI,INDEXSP:.INX,INDEXNASDAQ:.IXIC&tlf=12h
Dow -634.76 (-5.55%)
S&P -79.92 (-6.66%)
Nasdaq -174.72 (-6.90%)
Imagine if they had done it Friday morning...
tmleadr03
08-08-2011, 15:30
They pulled the video already.[Bang][Rant2]
7YEPUswpbMc
sbouslog
08-08-2011, 15:53
You guys do realize that all of the ratings agencies are a joke, right? They meant something before 2008 but since then don't mean shit. When an issuer gets downgraded their cost of money goes up. This means they should have to pay a higher interest rate to borrow money going forward. Last week the 10 year treasury was going for roughly 2.45%. Today, after the downgrade people were purchasing these at 2.37%. Money is still flocking to US debt at an amazing rate because it is still the highest quality debt in the world. Clearly they got it wrong but they can't go back and change it now or the whole country will know what a joke they are.
hollohas
08-08-2011, 15:54
You guys do realize that all of the ratings agencies are a joke, right?
Did you tell the stock market that? I bet it laughed at you...
tmleadr03
08-08-2011, 15:58
You guys do realize that all of the ratings agencies are a joke, right? They meant something before 2008 but since then don't mean shit. When an issuer gets downgraded their cost of money goes up. This means they should have to pay a higher interest rate to borrow money going forward. Last week the 10 year treasury was going for roughly 2.45%. Today, after the downgrade people were purchasing these at 2.37%. Money is still flocking to US debt at an amazing rate because it is still the highest quality debt in the world. Clearly they got it wrong but they can't go back and change it now or the whole country will know what a joke they are.
Market forces control the Fed interest rates? Who knew. I thought the Fed controlled the interest rate.
The low interest rates are due to the Fed trying to prop up the economy by pumping money into the economy. Not by market forces. But even so, you are going to see the interest rates start going up. Very soon, not now, it is going to be a good time to buy. When you start seeing 15% go for it. Same with the stock market. Lots of billionaires were made in the great depression because they could buy stocks when the prices were down and ride it back up. Give the market another week or so and bump up your 401K is my bet.
sbouslog
08-08-2011, 15:58
The market drop is not based on the downgrade. The majority of the European market is imploding right now and it is causing sell offs across the board. Please do some research before trying to call me out.
hollohas
08-08-2011, 16:00
The market drop is not based on the downgrade. The majority of the European market is imploding right now and it is causing sell offs across the board. Please do some research before trying to call me out.
Of course the Europe situation is a big part of it but if you think the downgrade didn't contribute, you have your head in the sand.
sbouslog
08-08-2011, 16:00
Market forces control the Fed interest rates? Who knew. I thought the Fed controlled the interest rate.
The low interest rates are due to the Fed trying to prop up the economy by pumping money into the economy. Not by market forces. But even so, you are going to see the interest rates start going up. Very soon, not now, it is going to be a good time to buy. When you start seeing 15% go for it. Same with the stock market. Lots of billionaires were made in the great depression because they could buy stocks when the prices were down and ride it back up. Give the market another week or so and bump up your 401K is my bet.
Demand sets the rates.
tmleadr03
08-08-2011, 16:02
Demand sets the rates.
Well, you're half right anyways.
SEC Investingating S&P employees is total Bull&hit that SEC Investingating S&P employees for possible insider trading.
What insider trading? Did they bought/sold SPECIFIC individual securities off of it?
Did they wrote options?
s
there's a joke in this somewhere....
first black president in history.... first credit downgrade in history.... :confused:
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