S&P downgrades US credit rating

[tmleadr03]

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]

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.

[spyder]

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.

[spyder]

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]

Yeah its all Obama and the Dems fault...........

The most honest thing you have ever typed!

[sniper7]

Yeah its all Obama and the Dems fault...........

You are learning

[MrPrena]

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.

http://finance.yahoo.com/news/SampP-...49763.html?x=0

[MrPrena]

Debt to GDP ratio....

[tmleadr03]

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.

http://finance.yahoo.com/news/SampP-...49763.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]

Probably appropriate to this thread: