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[quote=”Scott”]S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about the government’s budget deficits and rising debt burden. The move is likely to raise borrowing costs eventually for the American government, companies and consumers.[/quote]
I don’t think anyone knows where this is going with economc issues world-wide. Europe is in worse condition than the U.S., Japan is recovering from a natural disaster and China is trying to contain inflation.
It isn’t a stimulus that’s needed in Washinton, it’s sanity. Jobs can be created but it is going to take massive cuts in discretionary spending that the Dems don’t want and tax increases beyond the Bush tax cuts that the Repubs don’t want.
If sane people aren’t chosen for this budget committee there will be hell to pay. If they fail the $1.2 trillion fallback isn’t nearly enough to correct the budget and start to restore the credit rating.
If the committee is really serious about correcting the economy the turnaround will have to be over $4 trillion. I don’t see it happening.
Gee…..maybe S & P should lower U.S. Debt rating even further. Get those long-term treasury yields down even further. 10 year yields maybe to 1.00% and 30 years to 2.50%…mortgage rates to maybe 2.00%…..
It is amazing how much money is flooding into treasuries. But where else can you put billions, be liquid and safe? The risk trade is off, US continues to be a safe haven.
If you told me 1 year ago that S&P downgrades US to AA+, I would not think we see rates plunge! Go figure. Very deflationary.
I’m sure there were more than a few foolish people who also said that about “Great” Britain and the Roman Empire too …
Most people have no idea that we haven’t yet seen the beginning of the really tough times …
It’s going to get very, very ugly and when we see BLOOD in the streets and martial lay declared in the good ole USA you will remember your “courage and resiliency” comments …
Bogino, how much experience or evidence do you have to back up your “opinions” about American character?
There are no super races or super cultures which are immune to the ravages of the extreme deprivation of a deep depression. You sound like one of those delusional, ugly Americans who think they are part of an exceptional super race. Please tell me you are kidding and just trying to be provocative.
Suicide rates and crime in the US during hard economic times have always increased. They are higher now. Just wait till the pooh hits the fan. Anytime now……
Sprite, please make your own plans as you see fit, and I may agree with you on this prognostication. You needn’t continually have diarrhea of the mouth though. Costa Rica has not helped you as an ugly whatever you claim to be.
[quote=”clayton”]Sprite, please make your own plans as you see fit, and I may agree with you on this prognostication. You needn’t continually have diarrhea of the mouth though. Costa Rica has not helped you as an ugly whatever you claim to be.[/quote]
Well said Clayton. I’ve decided to no longer waste my time responding to miserable and angry imbeciles. Thx.
From the London Financial Times.
“The speed of the disintegration said everything. It took less than 48 hours for London to descend from self-styled capital of the world into a circuit of burning dystopian hells. The speed of BlackBerry messaging; the speed of kids on BMXs; the speed of Molotovs and petrol. Never mind the police, even the media couldn’t keep up.”
[ http://www.ft.com/intl/cms/s/0/8c42acba-c40f-11e0-b302-00144feabdc0.html#axzz1VXBM4wIz ]
Of course that could never happen in the US, right Bogino?
[quote=”bogino”][quote=”clayton”]Sprite, please make your own plans as you see fit, and I may agree with you on this prognostication. You needn’t continually have diarrhea of the mouth though. Costa Rica has not helped you as an ugly whatever you claim to be.[/quote]
Well said Clayton. I’ve decided to no longer waste my time responding to miserable and angry imbeciles. Thx.[/quote]
Well, guys, I am not miserable although I do admit to feeling angry sometimes. I think that anger these days is normal and healthy if it is correctly directed and managed.
Please look up the term “ugly American”. It is an abbreviation to describe a common perception of certain people from my country by foreigners. If I have used the term improperly in my comment, let me know how. Otherwise,
I will assume you agree with me.
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