RodandStaff Posted August 6, 2011 Report Share Posted August 6, 2011 (edited) Standard and Poor's downgrades the U.S. credit rating for the first time in our history. Moving from a AAA to AA rating. Link: http://www.washingto...src=al_national Someone has been saying "expect the unexpected"... well, I am not sure very many saw this coming! Is this the "handwriting on the wall"? What is your opinion? Edited August 6, 2011 by RodandStaff Link to comment Share on other sites More sharing options...
THINK..... Posted August 6, 2011 Report Share Posted August 6, 2011 Standard and Poor's downgrades the U.S. credit rating for the first time in our history. Moving from a AAA to AA rating. Link: http://www.washingto...src=al_national Someone has been saying "expect the unexpected"... well, I am not sure very many saw this coming! Is this the "handwriting on the wall"? What is your opinion? RodandStaff, I wish you had brought better news to the table. I've never shot a messenger yet.....OK, just that one time. I was really hoping this was not going to happen. We may well be witnessing the decline and fall of the American empire. History repeating itself? Link to comment Share on other sites More sharing options...
DAME1 Posted August 6, 2011 Report Share Posted August 6, 2011 When you didn't think it could get worse.....let's just say Jimmy Carter is feeling pretty good tonight ...... Link to comment Share on other sites More sharing options...
Carrello Posted August 6, 2011 Report Share Posted August 6, 2011 I can see how this could say doom and gloom, but there is a story behind the S&P rating, and it is incompetence. The S&P calculated the debt and GDP incorrectly. Don't forget (or did you know) that the S&P had a huge part in where we are today financially due to their ratings of private and government debt. They are completely irresponsible. Their credit rating released today has been referred to as amateur hour. 1 Link to comment Share on other sites More sharing options...
nemesis760 Posted August 6, 2011 Report Share Posted August 6, 2011 thankfully other credit agencies decided not to downgrade the US. Link to comment Share on other sites More sharing options...
DinarMillionaire Posted August 6, 2011 Report Share Posted August 6, 2011 (edited) I HOPE we can CHANGE it back in 2012! Edited August 6, 2011 by DinarMillionaire Link to comment Share on other sites More sharing options...
seus Posted August 6, 2011 Report Share Posted August 6, 2011 Monday should be interesting in the markets. Link to comment Share on other sites More sharing options...
oatman_230 Posted August 6, 2011 Report Share Posted August 6, 2011 Yes S&P reported 2.2 or 2 trillion more against the U.S. than it originally had.....I guess they misplaced the comma or just didn't get their 2nd cup down in the morning. I just don't get it, if i ran my house they way the government is run......my family and i would be living on the streets. But they get away with it scott-free! 1 Link to comment Share on other sites More sharing options...
robert1983 Posted August 6, 2011 Report Share Posted August 6, 2011 Unfortunatly It did not come as a very big surprise. You cannot expect to spend like we have seen In the last two years without a negative Impact on our credit rating. Link to comment Share on other sites More sharing options...
oatman_230 Posted August 6, 2011 Report Share Posted August 6, 2011 Very true.....you don't pay off a credit card by acquiring another one or take out a loan to pay a loan Link to comment Share on other sites More sharing options...
Jmcc Posted August 6, 2011 Report Share Posted August 6, 2011 This has been coming for quite some time. Politicians trade our rating for votes. All of them have their heads in the sand. Link to comment Share on other sites More sharing options...
RodandStaff Posted August 6, 2011 Author Report Share Posted August 6, 2011 (edited) I can see how this could say doom and gloom, but there is a story behind the S&P rating, and it is incompetence. The S&P calculated the debt and GDP incorrectly. Don't forget (or did you know) that the S&P had a huge part in where we are today financially due to their ratings of private and government debt. They are completely irresponsible. Their credit rating released today has been referred to as amateur hour. Not trying to be argumentative Carrello, but here is a bit of info from a pretty savvy local guy.... "If the US Government was a family, they would be making $58,000 a year, they spend $75,000 a year, & are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget & debt, reduced to a level that we can understand." - Dave Ramsey O.k.-this is not a loaded question.... would you loan money to your friend with that kind of track record? Just askin! Think... yeah, I deserve to be shot for being the messanger... with along about 600+other people up on capital hill! (relax folks, that is "figurative speech"... I don't want to kill nobody, but kick their ars out of Washington..... "YES"!!!) Edited August 6, 2011 by RodandStaff 1 Link to comment Share on other sites More sharing options...
RodandStaff Posted August 6, 2011 Author Report Share Posted August 6, 2011 thankfully other credit agencies decided not to downgrade the US. ...Yet! Link to comment Share on other sites More sharing options...
Spud Posted August 6, 2011 Report Share Posted August 6, 2011 RodandStaff, I wish you had brought better news to the table. I've never shot a messenger yet.....OK, just that one time. I was really hoping this was not going to happen. We may well be witnessing the decline and fall of the American empire. History repeating itself? Prelude to the NWO? All of this sure seems "planned". 1 Link to comment Share on other sites More sharing options...
grand pubah Posted August 6, 2011 Report Share Posted August 6, 2011 want a real eye opener watch this video: http://www.stansberryresearch.com/pro/1011PSIENDVD/EPSILCBD/PR?o=230873&s=233494&u=38338819&l=197632&r=Milo It is by Porter Stansberry a well known investment research firm. It is long but absolutely shocking. Want a dose of reality? I dare you to watch it and draw your own conclusions. Here is another one by Weiss Research: http://www.moneyandmarkets.com/new-just-released-video-american-apocalypse-43491 Moody's and S&P rated everything triple-A that went bankrupt in 2008. Moody's is doing its best to be diplomatic about America's credit rating. But everyone knows America is a long way from triple-A. Everyone already knows this, just like everyone knew that subprime mortgages were not really triple-A. 2 Link to comment Share on other sites More sharing options...
RodandStaff Posted August 6, 2011 Author Report Share Posted August 6, 2011 Prelude to the NWO? All of this sure seems "planned". I would say it seems to be eerily playing out like some scripted event... imho, not saying I am liking one bit of it though! Link to comment Share on other sites More sharing options...
grand pubah Posted August 6, 2011 Report Share Posted August 6, 2011 hey rodandstaff, every time I see your picture I smile Love the Etrade commercials! 2 Link to comment Share on other sites More sharing options...
RodandStaff Posted August 6, 2011 Author Report Share Posted August 6, 2011 hey rodandstaff, every time I see your picture I smile Love the Etrade commercials! Thanks pubah... your GRAND! Listening to your link: http://www.stansberr...l=197632&r=Milo ... sobering. I have many friends consumed with fear about the future. I am not saying not to be prepared, I think the RV will help to do that, but I am trying to stay grounded in my faith that there is One much bigger than these big wigs with their world agendas. I don't know what the future holds, but I know who holds the future. Thanks again. Link to comment Share on other sites More sharing options...
grand pubah Posted August 6, 2011 Report Share Posted August 6, 2011 Thanks pubah... your GRAND! Listening to your link: http://www.stansberr...l=197632&r=Milo ... sobering. I have many friends consumed with fear about the future. I am not saying not to be prepared, I think the RV will help to do that, but I am trying to stay grounded in my faith that there is One much bigger than these big wigs with their world agendas. I don't know what the future holds, but I know who holds the future. Thanks again. hey rodandstaff. I totally agree. I think fear is definitely the wrong reaction to the solid evidence of where the economy is going. The book tells us in the world we have tribulation but in Him we have peace because He overcame the world. Therefore I am not exempt from the world consequences but have been given grace to overcome them. I believe this is a time where the wise are the good stewards preparing for the ultimate outcome so as not to be caught off guard. I am not an alarmist but neither am I gullible or naive. I am a wise virgin preparing for the end of this ride so that I will be able to be a help and blessing to others who did not prepare or knew not to. And the one fact remains ever true "My God shall supply all my needs according to His riches in glory in Christ Jesus" GP out 2 Link to comment Share on other sites More sharing options...
Jim1cor13 Posted August 6, 2011 Report Share Posted August 6, 2011 Standard and Poor's downgrades the U.S. credit rating for the first time in our history. Moving from a AAA to AA rating. Link: http://www.washingto...src=al_national Someone has been saying "expect the unexpected"... well, I am not sure very many saw this coming! Is this the "handwriting on the wall"? What is your opinion? Hi Rod Thank you for the info. I saw it last night and I actually was expecting it. Many people, including many here at this forum refused to believe this could ever happen, in fact just the other week treasury Sec. Tim Geithner stated; "There is "no risk" of the US losing its credit rating. Well, he was wrong and so were those who choose to ignore all the signs that are both present and evident. This is only the beginning, just the start of something that has been going on for years, and finally culminating into this slow but steady decline of the US. It is sad, unfortunate, and simply due to horrible monetary policy and out of control spending which has improved nothing EXCEPT the 'too big too fail' banks and wall street. Be aware of what is taking place...please do not ignore what is evident. Our entire country was financially raped. It has finally caught up with us and it has to end at some point...BUT, there will be even more spending, since the debt ceiling was raised, we have already spent near 10% of the 2.7Trillion$ that is supposed to last to the end of 2012...watch them go through this latest and largest raise of the debt ceiling in our history and also the main contribution to our now reduced rating. The ramifications are obvious, it will cost the US more to borrow, just like any other country that faces default. Remember, many say this can never happen...again...it already IS. Increased borrowing costs, more countries refusing to buy our debt instruments, and the list could go on. Does this spell trouble? Indeed, at a magnitude no one thought would ever happen. To say this even a few months ago would have been met with rigorous denial, yet it still happened. I advise folks to get their financial houses in order before someone does it FOR you...and that will not turn out well. All my best! Jim --- Link to comment Share on other sites More sharing options...
RodandStaff Posted August 7, 2011 Author Report Share Posted August 7, 2011 (edited) hey rodandstaff. I totally agree. I think fear is definitely the wrong reaction to the solid evidence of where the economy is going. The book tells us in the world we have tribulation but in Him we have peace because He overcame the world. Therefore I am not exempt from the world consequences but have been given grace to overcome them. I believe this is a time where the wise are the good stewards preparing for the ultimate outcome so as not to be caught off guard. I am not an alarmist but neither am I gullible or naive. I am a wise virgin preparing for the end of this ride so that I will be able to be a help and blessing to others who did not prepare or knew not to. And the one fact remains ever true "My God shall supply all my needs according to His riches in glory in Christ Jesus" GP out Just fyi in regards to Grands comments... the wise virgins came with extra oil for their lamps... the foolish were not so thoughtful... when the groom was delayed the foolish were not ready... but the wise were ready for the circumstances that faced them! Very good analogy Grand... very good!!! Does this spell trouble? Indeed, at a magnitude no one thought would ever happen. To say this even a few months ago would have been met with rigorous denial, yet it still happened. I advise folks to get their financial houses in order before someone does it FOR you...and that will not turn out well. All my best! Jim --- One thing you both have in common in your response is.... "BE PREPARED"... good, wise advice! Thanks to both of you! Edited August 7, 2011 by RodandStaff 1 Link to comment Share on other sites More sharing options...
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