Us Credit Rating Downgraded

[Emil Miller]

Standard and Poors have announced that it has downgraded its US credit rating to AA+. It was nice of them to have done it after Wall Street had closed but it might make for some interesting scenes when the stock market opens on Monday. What do those interested LitNetters think of the agencies in general and the decision by one of them to opt for a downgrade.

[MystyrMystyry]

It's only one agency so it doesn't mean much, but there'll be more trouble ahead because of last months bickering. Consider it Credit Crunch Mk II

You'll probably survive it comfortably if you live in the White House, though not as well if you get evicted

[stlukesguild]

One would hope it would be a wake up call to both parties in the US legislature as to the need to get the budget in order. This will call for cooperation and give and take... probably increased taxes (especially on the wealthy and corporations) but also budget cuts... ideally starting with the military, health care (including Medicare), and the elimination of generations on Welfare and Food Stamps. But it probably won't happen.

[Emil Miller]

It's only one agency so it doesn't mean much, but there'll be more trouble ahead because of last months bickering. Consider it Credit Crunch Mk II

You'll probably survive it comfortably if you live in the White House, though not as well if you get evicted

I don't think the credit crunch ever went away but they have been moving the goalposts in order to give that impression and are now running out of options. It's rather like watching a tightrope walker wobbling increasingly to stop himself from plunging into the chasm.

[Vonny]

This one isn't for you Emil unless your like me and you've had plenty of Coke and Brandy, well, in my case it's Canadian Club.

http://www.youtube.com/watch?v=JxKBRVGnfWM





:sad:

[Mutatis-Mutandis]

When I woke up today and went outside, I knew something was different! This downgrading has changed everything around me. Oh, wait....

[Emil Miller]

This one isn't for you Emil unless your like me and you've had plenty of Coke and Brandy, well, in my case it's Canadian Club.

http://www.youtube.com/watch?v=JxKBRVGnfWM :sad:

The most important thing in this post is the date of the performance.



When I woke up today and went outside, I knew something was different! This downgrading has changed everything around me. Oh, wait....

The most important word in this post is wait.

[Vonny]

I don't know about date of performance, but I think the album was produced the year I was born.

I get enough Rock during lake party season to last me through the winter.


http://www.youtube.com/watch?v=jFowNFvmUxw
The most important part of this one could be, people who can't take any more, which could be Americans.

All the houseboats have also been blastin Give Me Shelter: (I should say one houseboat who is always at war with sailboats who are docked, and prefer quiet.)

Emil. I gotta warn ya, don't blame me if you click it:

edit: oops, that's wrong.





:sad:

[Vonny]

Let me try again.

http://www.youtube.com/watch?v=R3rnxQBizoU

[Paulclem]

Favourite stones track that.

[Varenne Rodin]

Before we cut healthcare, Medicare, and welfare, we should cut funding to things that don't need funding. The federal government gives 3 million a year to the cotton industry because it went broke in the 20s. It's now one of the wealthiest industries in the US. We subsidize meat for completely unknown reasons, banks, car companies. We allow jobs to be outsourced. The economy here won't be fixed, and there won't be any "trickle down effect," as long as we're sending money out of the country and denying those jobs to US citizens. The attacks on the poor are idiotic. They will solve nothing. The budget will still fail if we further cripple and murder our lower class. The dumb thing about taking from the poor is that they don't have anything. Processing sick, dying and dead people costs the country a lot more money than if we had a nice basic universal healthcare system available, with fancy private doctors still available to the rich.

[Vonny]

Before we cut healthcare, Medicare, and welfare, we should cut funding to things that don't need funding. The federal government gives 3 million a year to the cotton industry because it went broke in the 20s. It's now one of the wealthiest industries in the US. We subsidize meat for completely unknown reasons, banks, car companies. We allow jobs to be outsourced. The economy here won't be fixed, and there won't be any "trickle down effect," as long as we're sending money out of the country and denying those jobs to US citizens. The attacks on the poor are idiotic. They will solve nothing. The budget will still fail if we further cripple and murder our lower class. The dumb thing about taking from the poor is that they don't have anything. Processing sick, dying and dead people costs the country a lot more money than if we had a nice basic universal healthcare system available, with fancy private doctors still available to the rich.

Varenne, I think we could get along, if only you didn't pick on my doctors and hit on my guy.

[YesNo]

Even with the credit downgrade people will still be putting their money into 10 year US treasury bonds yielding about 2.5% especially when the market drops like it did on Thursday. I remember reading someone claiming that there is just too much investment capital chasing too little income.

[Varenne Rodin]

I'm not picking on doctors, sugar, and I don't hit on guys.

[Vonny]

Even with the credit downgrade people will still be putting their money into 10 year US treasury bonds yielding about 2.5% especially when the market drops like it did on Thursday. I remember reading someone claiming that there is just too much investment capital chasing too little income.

Thanks, yes no, I just need to know how to stay solvent.

[tonywalt]

Fighting 2 and a half wars is fairly expensive too.

I suppose "victory" can be declared in Afghanistan and then withdrawal. (see Saigon 1975).

Puzzling:nonod:

[papayahed]

No current politics