S&P downgrades US credit rating

[Ronin13]

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]

@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.

[Hoosier]

In other news, all AAA rated countries now have socialized medicine.

H.

[tmleadr03]

Well, that didn't hurt that bad.

Dow -634.76 (-5.55&#37
S&P -79.92 (-6.66%)
Nasdaq -174.72 (-6.90%)

[jmg8550]

Probably appropriate to this thread:

They pulled the video already.

[hollohas]

Well, that didn't hurt that bad.

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]

They pulled the video already.

[sbouslog]

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]

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]

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.