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RE: S&P downgrades U.S. credit rating for first time - 8/6/2011 3:57:58 AM

SilverMark

Posts: 3457
Joined: 5/9/2007
Status: offline

quote:

ORIGINAL: hapistan

quote:

ORIGINAL: rulemylife

quote:

ORIGINAL: hapistan

quote:

ORIGINAL: SilverMark

hapistan, it's ok to hate America, I am certain we could learn to dislike you as well!

S&P's magic number for not downgrading was 4 Trillion, which was the BEG DEAL that Obama and Boehner had worked on TOGETHER.

Now, who was it that didn't want to accept that deal?

I know, it was the Senate....right?...no, that wasn't it...It was Obama, I'm sure that's it....OOps wrong again...What's the name of that group,...oh you know...named after

my god. have you not even read the statement. you. you personally are part of the problem.
the bizzare binary nature of your politics is the reason for the downgrade, not all this nonsense you are writing.
theres for instance a particularly scathing part in the report about an unwillingness to raise taxes. you don't see this. the reason you got downgraded is not even that republicans and democrats couldn't agree, its because the american people are infants and have the infantile politics they deserve.

Would that be anything like your infantile lack of proper grammar and punctuation?

hi, and thanks for your question.
its actually a completely different thing. now. shhhh. can you hear that? its the whole world laughing at you.

No, what we hear is the sound of somone with no viewable profile, no photo,no listing of where he is putting down people he doesn't know, based on his own preconceived notions as to who and what Americans are. It's ok, we allow people like you to voice your opinion as well, we simply pay little attention to them.

_____________________________

If you have sex with a siamese twin, is it considered a threesome?

The trouble with ignorance is that it picks up confidence as it goes along.
- Arnold H. Glasow

It may be your sole purpose in life to simply serve as a warning to others!

(in reply to hapistan)

Post #: 81

RE: S&P downgrades U.S. credit rating for first time - 8/6/2011 4:43:36 AM

MrRodgers

Posts: 10542
Joined: 7/30/2005
Status: offline

quote:

ORIGINAL: Jeffff

Dave, dave , dave.... tax cuts INCREASE revenue. It's right there is black and white.

The color is irrelevant.

Once again Clinton's last 1040 receipts $1.04 trillion, Bush II's first post tax cut, 1040 receipts $784 billion. Reagan raised taxes twice to make up for his shortfall. It took 4 years for 'W's' tax receipts to get back to $1 trillion.

What you repeat is one of the most successful lies spread by investor class propaganda.

(in reply to Jeffff)

Post #: 82

RE: S&P downgrades U.S. credit rating for first time - 8/6/2011 4:50:59 AM

MrRodgers

Posts: 10542
Joined: 7/30/2005
Status: offline

quote:

ORIGINAL: willbeurdaddy

quote:

ORIGINAL: ThatDaveGuy69

Congratulations to the freshman Teabaggers who know jack/shit about how Congress works but have to fuck with things anyway.

Someone needs to take those fucktards out behind the wood shed and beat some sense into them.

Raising the (unconstitutional) debt limit was a simple procedure - like lancing a boil on your toe. But these asswipes applied a tournequet until the limb had to be amputated and even then they weren't happy.

Will someone in what's left of the GOP PLEASE stand up to these idiots before they do any more damage?!

Would someone teach you something about economics please. The Tea Party is the best thing that has happened for the US economy since Clinton cut capital gains rates.

Clinton's cutting of the cap gains tax didn't do anything at all except lower the taxes on those with cap gains. As I've told people who complain about the cap gains tax, if you don't want to pay it...don't have any cap gains...go out and get a real job. There is a world where you can work hard to pay as much as more than twice the rate.

In fact raising the cap gains tax...would increase job creation. Reagan did, to 28%. Can you understand why ?

(in reply to willbeurdaddy)

Post #: 83

RE: S&P downgrades U.S. credit rating for first time - 8/6/2011 4:53:32 AM

SilverMark

Posts: 3457
Joined: 5/9/2007
Status: offline

quote:

ORIGINAL: MrRodgers

quote:

ORIGINAL: Jeffff

Dave, dave , dave.... tax cuts INCREASE revenue. It's right there is black and white.

The color is irrelevant.

Once again Clinton's last 1040 receipts $1.04 trillion, Bush II's first post tax cut, 1040 receipts $784 billion. Reagan raised taxes twice to make up for his shortfall. It took 4 years for 'W's' tax receipts to get back to $1 trillion.

What you repeat is one of the most successful lies spread by investor class propaganda.

So raising revenues, doesn't raise revenues....math is propaganda?...someone has changed the rules?

If it took us since 2000 to get here, unless you are unreasonable in your expectations, we can't make up the shortfall tomorrow. I would understand the desire to have fixed in a faster manner, but there has to be a start!
We will be paying for the wars, the discretionary spending, medicare, social security, the unemployment costs, for quite sometime. Are you suggesting that there is a way to do it any faster? Is there some silver bullit that no one knows of but you? Have you devined answer that has yet to be revealed?

< Message edited by SilverMark -- 8/6/2011 4:54:01 AM >

_____________________________

If you have sex with a siamese twin, is it considered a threesome?

The trouble with ignorance is that it picks up confidence as it goes along.
- Arnold H. Glasow

It may be your sole purpose in life to simply serve as a warning to others!

(in reply to MrRodgers)

Post #: 84

RE: S&P downgrades U.S. credit rating for first time - 8/6/2011 4:56:51 AM

MrRodgers

Posts: 10542
Joined: 7/30/2005
Status: offline

quote:

ORIGINAL: DarkSteven

The problem is that it took the mighty US government a full several months to essentially kick the can down the road. If any corporate entity took that long, they'd get a vote of no confidence from their stockholders. S&P essentially did the exact same thing for our nation's leaders - we're virtually incapable of action.

It is possible that S & P looked at congress and found them incompetent and thus the nations red ink could be a problem down the road. It just strikes me as insanity that these are the same people who rated those MBS's as AAA. I still say...wall street just wanted a raise.

As Adams warned just a few years before he died, by turning paper into money, you are and we are...slave to the speculator.

(in reply to DarkSteven)

Post #: 85

RE: S&P downgrades U.S. credit rating for first time - 8/6/2011 5:04:17 AM

MrRodgers

Posts: 10542
Joined: 7/30/2005
Status: offline

quote:

ORIGINAL: Sanity

Worse than that, the Dems were spending as if they had a blank check

They were acting like children, they werent passing or even proposing budgets at all

For YEARS

The only grownups in the room were the tea Party folk who insisted on a concrete budget

quote:

ORIGINAL: MasterSlaveLA

quote:

ORIGINAL: ThatDaveGuy69

Congratulations to the freshman Teabaggers who know jack/shit about how Congress works but have to fuck with things anyway.

Uhhh... maybe you missed this part...

quote:

S&P decided to lower the AAA rating, held by the United States for 70 years, to AA+ after a bipartisan debt deal signed into law this week failed to assuage concerns about the nation’s growing spending.

Who was arguing to CUT SPENDING and for a BALANCED BUDGET AMENDMENT?

Answer: THE TEA PARTY FRESHMAN!!!

Who was arguing for MORE SPENDING and NO BALANCED BUDGET AMENDMENT?

Answer: Obama, Reid, Pelosi, the Dems.

CONCLUSION: The "Tea Party Freshman" were CORRECT, and Obama, Reid, Pelosi, and the Dems are the ones who don't know "jack shit".

Except it was O'Neil (treasury) that quietly went over to the repubs every year (01-08) to ask for a debt limit increase and after the second time warning to Bush & Cheney...was fired. Some other stooge had to pick up the chore to make it a complete 'fiscally conservative' [sic] sweep, i.e., EVERY year of a completely vertically integrated repub govt...RAISED the debt limit.

What could be more hypocritical than all of those T baggers now...now to worry about all of this when they weren't under Bush & Co. ?

(in reply to Sanity)

Post #: 86

RE: S&P downgrades U.S. credit rating for first time - 8/6/2011 5:17:27 AM

MrRodgers

Posts: 10542
Joined: 7/30/2005
Status: offline

quote:

ORIGINAL: pahunkboy

A new amendment is unlikely- if it were that easy ERA would have passed in the 70s.

Well you are talking to the subjective 'certaintees', fully equipped with intolerant certitudes and what they absolutely refuse to acknowledge. A balanced budget amend as most state's BBA's do not limit the number of...budgets. So say with two budgets, I balance one and borrow all I want against the other. All I must do then is balance cash flow, i.e., pay all of the debt service.

Example: many think Perry from Tx who is running for pres., may be yet another good 'ole fiscal conservative. Look again. First he 'refuses' the stimulus money. Then only at election time like any good repub of today...brags about all of the good [it] will do and spends it. How convenient.

In the end Perry has 'governed' Texas to a tripling of its debt...$30 billion now I read. Wow, some fiscal conservative.

(in reply to pahunkboy)

Post #: 87

RE: S&P downgrades U.S. credit rating for first time - 8/6/2011 5:23:16 AM

MrRodgers

Posts: 10542
Joined: 7/30/2005
Status: offline

quote:

ORIGINAL: SilverMark

quote:

ORIGINAL: MrRodgers

quote:

ORIGINAL: Jeffff

Dave, dave , dave.... tax cuts INCREASE revenue. It's right there is black and white.

The color is irrelevant.

Once again Clinton's last 1040 receipts $1.04 trillion, Bush II's first post tax cut, 1040 receipts $784 billion. Reagan raised taxes twice to make up for his shortfall. It took 4 years for 'W's' tax receipts to get back to $1 trillion.

What you repeat is one of the most successful lies spread by investor class propaganda.

So raising revenues, doesn't raise revenues....math is propaganda?...someone has changed the rules?

If it took us since 2000 to get here, unless you are unreasonable in your expectations, we can't make up the shortfall tomorrow. I would understand the desire to have fixed in a faster manner, but there has to be a start!
We will be paying for the wars, the discretionary spending, medicare, social security, the unemployment costs, for quite sometime. Are you suggesting that there is a way to do it any faster? Is there some silver bullit that no one knows of but you? Have you devined answer that has yet to be revealed?

What I mean is mathematically obvious. After the Bush tax cuts revenue was cut, fell to some $220 billion. Revenue didn't increase. Tax CUTS...Decreases revenue...simple and it always has.

(in reply to SilverMark)

Post #: 88

RE: S&P downgrades U.S. credit rating for first time - 8/6/2011 5:39:13 AM

SilverMark

Posts: 3457
Joined: 5/9/2007
Status: offline

I missed your point...Jefff was being facitious...That I understood...He is afterall a Aardvark Damnit!...

_____________________________

If you have sex with a siamese twin, is it considered a threesome?

The trouble with ignorance is that it picks up confidence as it goes along.
- Arnold H. Glasow

It may be your sole purpose in life to simply serve as a warning to others!

(in reply to MrRodgers)

Post #: 89

RE: S&P downgrades U.S. credit rating for first time - 8/6/2011 6:02:22 AM

StrangerThan

Posts: 1515
Joined: 4/25/2008
Status: offline

You know, the warnings have been dire as to what a downgrade would mean for the US economy. Now that it's happened, there's a good bit of back-pedaling in the stories I've read this morning. I'm sure it will cause some market reaction early in the week. I'm equally sure that the market will rebound as soon as investors turn their attention to squeezing money out of something else.

I suppose the big question is how much and even if the ripple extends to average folks. I'm about to give up reading news. Life seems much more peaceful without it.

_____________________________

--'Whenever you find yourself on the side of the majority, it is time to reform' - Mark Twain

(in reply to Sanity)

Post #: 90

RE: S&P downgrades U.S. credit rating for first time - 8/6/2011 6:06:10 AM

pahunkboy

Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline

quote:

ORIGINAL: hapistan

quote:

ORIGINAL: rulemylife

quote:

ORIGINAL: hapistan

quote:

ORIGINAL: SilverMark

hapistan, it's ok to hate America, I am certain we could learn to dislike you as well!

S&P's magic number for not downgrading was 4 Trillion, which was the BEG DEAL that Obama and Boehner had worked on TOGETHER.

Now, who was it that didn't want to accept that deal?

I know, it was the Senate....right?...no, that wasn't it...It was Obama, I'm sure that's it....OOps wrong again...What's the name of that group,...oh you know...named after

my god. have you not even read the statement. you. you personally are part of the problem.
the bizzare binary nature of your politics is the reason for the downgrade, not all this nonsense you are writing.
theres for instance a particularly scathing part in the report about an unwillingness to raise taxes. you don't see this. the reason you got downgraded is not even that republicans and democrats couldn't agree, its because the american people are infants and have the infantile politics they deserve.

Would that be anything like your infantile lack of proper grammar and punctuation?

hi, and thanks for your question.
its actually a completely different thing. now. shhhh. can you hear that? its the whole world laughing at you.

WRONG

(in reply to hapistan)

Post #: 91

RE: S&P downgrades U.S. credit rating for first time - 8/6/2011 6:57:14 AM

StrangerThan

Posts: 1515
Joined: 4/25/2008
Status: offline

China tells the US the good old days of borrowing are over.

http://finance.yahoo.com/news/China-flays-US-over-credit-rb-3974888722.html?x=0

Part way down is the call for a new global currency. Seems I read a thread on a Glen Beck rant over that here a while back, which was filled with derisive naysayers.

Maybe not, maybe that was just my impression.

_____________________________

--'Whenever you find yourself on the side of the majority, it is time to reform' - Mark Twain

(in reply to Sanity)

Post #: 92

RE: S&P downgrades U.S. credit rating for first time - 8/6/2011 7:08:50 AM

willbeurdaddy

Posts: 11894
Joined: 4/8/2006
Status: offline

quote:

ORIGINAL: outhere69

If we had a BBA, we wouldn't have been able to go to war without raising taxes. You know, like we used to.

Another one who posts without even bothering to read wtf they are talking about. EMERGENCY SPENDING SUCH AS WARS IS NOT SUBJECT TO THE BBA.

_____________________________

Hear the lark
and harken
to the barking of the dogfox,
gone to ground.

(in reply to outhere69)

Post #: 93

RE: S&P downgrades U.S. credit rating for first time - 8/6/2011 7:09:24 AM

Louve00

Posts: 1674
Joined: 2/1/2009
Status: offline

While everyone here is blaming either one side or another....here is the justification Standard & Poors used to lower it. It basically said the rating action would have this effect...

"The transfer and convertibility (T&C) assessment of the U.S.--our
assessment of the likelihood of official interference in the ability of
U.S.-based public- and private-sector issuers to secure foreign exchange for
debt service--remains 'AAA'."

And their rationale for doing it was....

We lowered our long-term rating on the U.S. because we believe that the
prolonged controversy over raising the statutory debt ceiling and the related
fiscal policy debate indicate that further near-term progress containing the
growth in public spending, especially on entitlements, or on reaching an
agreement on raising revenues is less likely than we previously assumed and
will remain a contentious and fitful process. We also believe that the fiscal
consolidation plan that Congress and the Administration agreed to this week
falls short of the amount that we believe is necessary to stabilize the
general government debt burden by the middle of the decade.
Our lowering of the rating was prompted by our view on the rising public
debt burden and our perception of greater policymaking uncertainty, consistent
with our criteria (see "Sovereign Government Rating Methodology and Assumptions
," June 30, 2011, especially Paragraphs 36-41). Nevertheless, we view the U.S.
federal government's other economic, external, and monetary credit attributes,
which form the basis for the sovereign rating, as broadly unchanged.

This link is not blaming one side over the other. More like an inability for anyone to want to play together...and instead take the "highway or my way mentality", instead of doing the job they're supposed to do.

But I'm sure everyone will interpret it to fit their POV

I am not technically savvy enough to use the tool to shorten a link, so my apologies

http://www.standardandpoors.com/servlet/BlobServer?blobheadername3=MDT-Type&blobcol=urldata&blobtable=MungoBlobs&blobheadervalue2=inline%3B+filename%3DUS_Downgraded_AA%2B.pdf&blobheadername2=Content-Disposition&blobheadervalue1=application%2Fpdf&blobkey=id&blobheadername1=content-type&blobwhere=1243942957443&blobheadervalue3=UTF-8

_____________________________

For the great majority of mankind are satisfied with appearance, as though they were realities and are often more influenced by the things that seem than by those that are. - Niccolo Machiavelli

(in reply to pahunkboy)

Post #: 94

RE: S&P downgrades U.S. credit rating for first time - 8/6/2011 7:11:50 AM

willbeurdaddy

Posts: 11894
Joined: 4/8/2006
Status: offline

quote:

ORIGINAL: SilverMark

hapistan, it's ok to hate America, I am certain we could learn to dislike you as well!

S&P's magic number for not downgrading was 4 Trillion, which was the BIG DEAL that Obama and Boehner had worked on TOGETHER.

Now, who was it that didn't want to accept that deal?

I know, it was the Senate....right?...no, that wasn't it...It was Obama, I'm sure that's it....OOps wrong again...What's the name of that group,...oh you know...named after

something to do with the Revolution....damn why can't I think of it....Oh yes....the Tea Party freshman in the house....that was the group. who'd rather hold us all hostage,

yes, those guys! The ones who wanted to delay any action for another year just to put the same argument in the middle of the election, just to play politics!

Yes, such wise people they are, nothing better than stopping a process that should have been perfunctory, to show the world their great leadership, to let the country be

held in limbo while they were busy sucking Grover Norquist's cock! Yep, blame Obama, blame Boehner, but the deal was there and it stopped when Boehner couldn't deliver

his own caucus due to one groups inabaility to see past their own ignorance.

wtf are you talking about???? It was the tea party that was holding out for MORE cuts. The first tea party amendment HAD 4 trillion in deficit reduction. It was 100% Obama, who proposed 1.5 trillion in INCREASED spending.

Your entire post is fiction.

_____________________________

Hear the lark
and harken
to the barking of the dogfox,
gone to ground.

(in reply to SilverMark)

Post #: 95

RE: S&P downgrades U.S. credit rating for first time - 8/6/2011 7:14:07 AM

willbeurdaddy

Posts: 11894
Joined: 4/8/2006
Status: offline

quote:

ORIGINAL: MrRodgers

quote:

ORIGINAL: SilverMark

quote:

ORIGINAL: MrRodgers

quote:

ORIGINAL: Jeffff

Dave, dave , dave.... tax cuts INCREASE revenue. It's right there is black and white.

The color is irrelevant.

Once again Clinton's last 1040 receipts $1.04 trillion, Bush II's first post tax cut, 1040 receipts $784 billion. Reagan raised taxes twice to make up for his shortfall. It took 4 years for 'W's' tax receipts to get back to $1 trillion.

What you repeat is one of the most successful lies spread by investor class propaganda.

So raising revenues, doesn't raise revenues....math is propaganda?...someone has changed the rules?

If it took us since 2000 to get here, unless you are unreasonable in your expectations, we can't make up the shortfall tomorrow. I would understand the desire to have fixed in a faster manner, but there has to be a start!
We will be paying for the wars, the discretionary spending, medicare, social security, the unemployment costs, for quite sometime. Are you suggesting that there is a way to do it any faster? Is there some silver bullit that no one knows of but you? Have you devined answer that has yet to be revealed?

What I mean is mathematically obvious. After the Bush tax cuts revenue was cut, fell to some $220 billion. Revenue didn't increase. Tax CUTS...Decreases revenue...simple and it always has.

Actually it hasnt "always has", there are several instances where revenues increased after a tax cut. However, you are missing the point. After the Bush tax cuts DEFICITS went down.

_____________________________

Hear the lark
and harken
to the barking of the dogfox,
gone to ground.

(in reply to MrRodgers)

Post #: 96

RE: S&P downgrades U.S. credit rating for first time - 8/6/2011 7:15:40 AM

willbeurdaddy

Posts: 11894
Joined: 4/8/2006
Status: offline

quote:

ORIGINAL: pahunkboy

quote:

ORIGINAL: hapistan

its actually a completely different thing. now. shhhh. can you hear that? its the whole world laughing at you.

WRONG

Actually this is the one thing he is right about. The US is the laughing stock of the world, thanks to our disasterous administration.

_____________________________

Hear the lark
and harken
to the barking of the dogfox,
gone to ground.

(in reply to pahunkboy)

Post #: 97

RE: S&P downgrades U.S. credit rating for first time - 8/6/2011 7:20:59 AM

willbeurdaddy

Posts: 11894
Joined: 4/8/2006
Status: offline

quote:

ORIGINAL: MrRodgers

In fact raising the cap gains tax... Reagan did, to 28%. Can you understand why ?

Apparently you dont understand why. The Democrats promised 3:1 spending cuts in exchange. They didnt deliver.

_____________________________

Hear the lark
and harken
to the barking of the dogfox,
gone to ground.

(in reply to MrRodgers)

Post #: 98

RE: S&P downgrades U.S. credit rating for first time - 8/6/2011 7:22:39 AM

mnottertail

Posts: 60698
Joined: 11/3/2004
Status: offline

perhaps an itinerant insurance peddler might share with us some credible citations of that, because I can share multitudes of credible citations that they are laughing at the idiots in the house, those of a 'republican' or 'conservative' bent, their ineptness and ignorance makes the papers world wide daily.

_____________________________

Have they not divided the prey; to every man a damsel or two? Judges 5:30

(in reply to willbeurdaddy)

Post #: 99

RE: S&P downgrades U.S. credit rating for first time - 8/6/2011 7:23:10 AM

willbeurdaddy

Posts: 11894
Joined: 4/8/2006
Status: offline

quote:

ORIGINAL: MrRodgers

It is possible that S & P looked at congress and found them incompetent and thus the nations red ink could be a problem down the road. It just strikes me as insanity that these are the same people who rated those MBS's as AAA.

They looked at Geithner and found him incompetent, reporting to a boss who is even more incompetent. Geithner should be fired now, not wait till the US fires his boss.

_____________________________

Hear the lark
and harken
to the barking of the dogfox,
gone to ground.

(in reply to MrRodgers)

Post #: 100

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