S&P calls out the Republicans!
- Thread starter Jarod
- Start date
Moody's is set to follow suit today-or so it is being rumored. Can you really see the Obama admin. moving quickly to pass a BBA?
Not today, they warned that if we don't do something by 2013 they "may follow"... And the Obama Admin would have nothing to do with a BBA, the states ratify it, it never reaches the President's desk. Which is important considering he doesn't believe that Constitutional limitation is necessary to ensure that he'll do his job.
Moody's warning: http://www.reuters.com/article/2011/08/08/us-usa-ratings-moodys-idUSTRE77713K20110808
Interesting links. There is one offshore loophole for FOREIGN insurance companies in Massachusetts alone that exceeds $30 billion a year. And that is one of hundreds.
As I said, I'm not here to educate you & DY about loopholes. Personally, I don't think you should be taking part in discussions about economics if you don't know they exist, and they they are all in the "imagination."
But hey - that's just me...
I wouldn't buy a piece of shit like Enron, with all the agencies reommending them. so fuck off
There are quite a few here that are coming to this conclusion. They have a horrible track record on calls like this. I don't see why we should listen to them. Moody's reaffirmed our AAA rating this morning.
Thanks for the link~ What I meant by the admin moving quickly was in supposing he wanted one and would move to encourage (sell) the proposition.
S&P listed them as AAA right up until they sank into the ether.... You might want to pay attention to somebody with a better record than S&P on something like this.
The flight to Treasuries continues unabated, regardless of what the S&P says:
All this BBA nonsense is classic "now more than ever"ism. And, for the record, I love how the Republicans went from "not raising the debt ceiling is no big deal" to "S&P downgrade? I'm moving to Panama!" in record time. Hilarious.
All this BBA nonsense is classic "now more than ever"ism. And, for the record, I love how the Republicans went from "not raising the debt ceiling is no big deal" to "S&P downgrade? I'm moving to Panama!" in record time. Hilarious.
He'll never do it, so we'll have to make a grass-roots movement to get it done. My Congressman already knows, and supports a BBA. However, if we see it will fail through that method we need to get propositions onto every ballot that allows one to call for a Constitutional Congress for the purpose of introducing just such an Amendment. If the politicians won't do it, it is time to take the matter up ourselves.
The flight to Treasuries continues unabated, regardless of what the S&P says:
All this BBA nonsense is classic "now more than ever"ism. And, for the record, I love how the Republicans went from "not raising the debt ceiling is no big deal" to "S&P downgrade? I'm moving to Panama!" in record time. Hilarious.
Again with the "We have crippling debt in our house, but we've got another credit card with a low rate! That will fix things!" argument. Just quit it.. You are embarrassing yourself.
Frankly, I think the S&P has the rating right. The major issue is the debt ceiling. We have the ability to pay our debts, but given the debt ceiling fracas, you have to question our willingness to pay it.
Really.....Did you fail to notice that I"M the one that posted actual links......and not you.....you might have missed that.....
I love that you're now permanently on record for the position that "tax loopholes for corporations & the wealthy do not exist."
Good stuff.
I'm simply pointing out that investors don't give a shit about the S&P rating. If they did, Treasury rates would be the rise, not dropping.
And we don't have crippling debt. Just saying it over and over and over again doesn't make it so.
Saying that we aren't on the road to crippling debt doesn't make it so and directly ignores reality.
Avoiding that destination is my goal, apparently you think that it can't possibly matter. We absolutely disagree.
Moody's is threatening to downgrade US rating also.....
You are peddling the bullshit idea that we are in the same boat as the European folks. We do not have a debt crisis. Greece has a debt crisis. Ireland has a debt crisis. Portugal has a debt crisis. Italy is moving towards a debt crisis. Because these countries do not control their own monetary policies, their debt problems are compounded (cannot inflate away some of the debt). Banks in the France, UK and Germany (and to a lesser extent the US) holding lots of Greek, Irish, Portuguese and Italian debt have serious issues because of their exposure on that debt. These sovereign debt crises are causing a global financial panic.
Those are debt crises. The United States government, by contrast, has no debt crisis and investing in U.S. debt is a safe haven for investors, regardless of what the S&P says. Of course, if we do not reduce our annual deficits and get debt under control over the long term, we could, ten years from now, experience a debt crisis, but we are not even close to being there. I'd like to avoid that future as well, but pretending that enacting a BBA rightnow! is the only policy prescription to stave off that long term problem is absurd.