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THE U.S. IS DOWNGRADED - NOW WHAT?

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THE U.S. IS DOWNGRADED - NOW WHAT?

Post by TOO OLD TO HIRE IN PA on Fri Aug 05, 2011 10:12 pm

http://www.washingtonpost.com/blogs/ezra-klein/post/2011/08/05/gIQAx4NKxI_blog.html?hpid=z&tid=sm_twitter_washingtonpost

TOO OLD TO HIRE IN PA
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Re: THE U.S. IS DOWNGRADED - NOW WHAT?

Post by Guest on Fri Aug 05, 2011 11:13 pm

According to Ezra Klein in the last paragraph, the US has never been in this position before since the S & P began rating in 1917. I realize it is only a minor downgrade from "AAA" to "AA", which is still an excellent rating, but what concerns me about this is the fact that this country NEVER lost its triple A rating before - even during the Great Depression!

This is scary. Why can't the government be truthful and just tell us how bad things really are? We aren't stupid and it is obvious something is very wrong. What is going to happen to us? This nightmare we have been living in for 3+ years is just beginning.

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Re: THE U.S. IS DOWNGRADED - NOW WHAT?

Post by exhaustedandtired/1208 on Fri Aug 05, 2011 11:36 pm

DesperateInRI wrote:According to Ezra Klein in the last paragraph, the US has never been in this position before since the S & P began rating in 1917. I realize it is only a minor downgrade from "AAA" to "AA", which is still an excellent rating, but what concerns me about this is the fact that this country NEVER lost its triple A rating before - even during the Great Depression!

This is scary. Why can't the government be truthful and just tell us how bad things really are? We aren't stupid and it is obvious something is very wrong. What is going to happen to us? This nightmare we have been living in for 3+ years is just beginning.


sorry but its an AA+

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Re: THE U.S. IS DOWNGRADED - NOW WHAT?

Post by Guest on Fri Aug 05, 2011 11:56 pm

exhaustedandtired/1208 wrote:
DesperateInRI wrote:According to Ezra Klein in the last paragraph, the US has never been in this position before since the S & P began rating in 1917. I realize it is only a minor downgrade from "AAA" to "AA", which is still an excellent rating, but what concerns me about this is the fact that this country NEVER lost its triple A rating before - even during the Great Depression!

This is scary. Why can't the government be truthful and just tell us how bad things really are? We aren't stupid and it is obvious something is very wrong. What is going to happen to us? This nightmare we have been living in for 3+ years is just beginning.


sorry but its an AA+
Sorry, don't want to make it worse than what it is. Embarassed

Guest
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Re: THE U.S. IS DOWNGRADED - NOW WHAT?

Post by TOO OLD TO HIRE IN PA on Fri Aug 05, 2011 11:59 pm

From what I have been reading and hearing on TV, the markets knew this was coming and some think it will not affect Wall Street. But as in Mr. Klein's article, there are "MIGHTS" and "MIGHT NOTS". I also saw on Twitter that it may be downgraded further in the next 12 to 18 months. Not good.

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Re: THE U.S. IS DOWNGRADED - NOW WHAT?

Post by mistermunster on Sat Aug 06, 2011 1:26 am

STOP THE WARS, Tax the rich...problem solved. But that being said this downgrade is a SET UP of the financial elite. WHO the HELL are all these dumbasses MAKING these decisions? Capitalism is a FAILURE. Evil or Very Mad

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Re: THE U.S. IS DOWNGRADED - NOW WHAT?

Post by truth on Sat Aug 06, 2011 1:34 am

Aren't these the same bunch of crooks who gave rock solid ratings to the various derivatives and other fraudulent financial products that were a major cause of this Great Recession? Now we're supposed to give a rat's ass what they say? When did they get religion?

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Re: THE U.S. IS DOWNGRADED - NOW WHAT?

Post by TR11005 on Sat Aug 06, 2011 6:22 am

This had to be done by our friendly Wall Street Bankers. Remember they are sitting on trillions of money. We should of let them go under. Now they will loan the money at a higher interest rate. Why would they get stuck with having low interest rate to loan money on what they should have lost. Pretty obvious to me. The Banksters are doing it again. The problems our home values will not go up due to many foreclose homes the banks now have. They also know that they will not be taxes more thanks to the "Tan Man."

The Tan Man will be playing golf, getting drunk and getting a darker tan. He said, "I got 98% what I wanted and that still not enough!"
Ha! Ha!

Wait till he comes back. All Unemployed will be working below minimum jobs and will have to love it. MAD

Let the Apes take over instead. That should be us doing what the new movie shows.

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Re: THE U.S. IS DOWNGRADED - NOW WHAT?

Post by rprp on Sat Aug 06, 2011 9:20 am

truth wrote:Aren't these the same bunch of crooks who gave rock solid ratings to the various derivatives and other fraudulent financial products that were a major cause of this Great Recession? Now we're supposed to give a rat's ass what they say? When did they get religion?

I didn't know they got religion. Care to share?

Yes, these are the same crooks (pretty sure) that blessed the derivatives.

I tell you all, no good can come from this. I just made my 3 a.m. Wal-mart run and got about 15 boxes (they give them away and 3 is a great time to go). Bought some bubble wrap and packing tape and a few other things. I don't know where I'm going, but I am going to try to sell before all hell breaks loose (although we are close to that). Part of me is thinking another country but at my age (52) and alone it's just not that easy. But I really have had it living in this country.

Fortunately, I have a really cool Dr. who gave me some Adderall (yes, have ADD but also depression and cannot seem to get anything done and fortunately it comes in generic) so this is giving me the energy to focus and move on. Just wish I knew where I was going. At any rate, with zero of a support system here and if things get really bad, I don't feel safe where I am. But I digress.

Folks, they won't be happy until we're all in the soup line and half of us die off. This is obvious to me, although I've never been known for my optimism. This downgrading doesn't bode well and all I can say is I hope the stock market crashes and crashes hard (except for a couple of people I care about and anyone in this thread. I say sell, sell, sell). I want these weasels to feel the pain too. I'm pretty much beyond angry and am out for blood (not literally, although I read some posts here and secretly say YEAH!) when I've read people saying we need a serious revolution in this country. And I don't know how much longer people are going to hold out.

Don't know if it's ok to say this here but figure it is, since other radio personalities are mentioned (which BTW, don't have TV channels for Ed but I do know he's taken the week off from radio. Could it be he is so outraged that he just could not work this past week?) I'll mention Mike Malloy. He says first the people starve and die and then that's when people hit the streets. I will let you make of it what you will.

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Re: THE U.S. IS DOWNGRADED - NOW WHAT?

Post by mamroz on Sat Aug 06, 2011 9:56 am

I, for one, would love to see a revolution - but how will it happen when the powers that be have divided us so sharply. There are dirt-poor folks who side with the Republicans because the GOP has told them over and over that they are God's party (more like Lucifer's Party, if you ask me) and if they vote for Democrats that they will go to hell.

The Republicans have gotten Middle America all in a whirl over gays, minorities, welfare queens - you name it. And this instead of allowing them to see for themselves the devastation that they (the Republicans) are bestowing upon America. It's all smoke and mirrors - hiding what is really happening: the dismantling of the middle and working classes. Yes, the Democrats have proven to be a spineless lot, but they aren't evil and cruel, the way the Republicans are.

I say the time is now to begin anew with an American Workers Party. Let the Revolution begin.

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Re: THE U.S. IS DOWNGRADED - NOW WHAT?

Post by exhaustedandtired/1208 on Sat Aug 06, 2011 10:04 am

DesperateInRI wrote:
exhaustedandtired/1208 wrote:
DesperateInRI wrote:According to Ezra Klein in the last paragraph, the US has never been in this position before since the S & P began rating in 1917. I realize it is only a minor downgrade from "AAA" to "AA", which is still an excellent rating, but what concerns me about this is the fact that this country NEVER lost its triple A rating before - even during the Great Depression!

This is scary. Why can't the government be truthful and just tell us how bad things really are? We aren't stupid and it is obvious something is very wrong. What is going to happen to us? This nightmare we have been living in for 3+ years is just beginning.


sorry but its an AA+
Sorry, don't want to make it worse than what it is. Embarassed


I hear you desp!!

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Re: THE U.S. IS DOWNGRADED - NOW WHAT?

Post by TOO OLD TO HIRE IN PA on Sat Aug 06, 2011 12:28 pm

TR11005 wrote:This had to be done by our friendly Wall Street Bankers. Remember they are sitting on trillions of money. We should of let them go under. Now they will loan the money at a higher interest rate. Why would they get stuck with having low interest rate to loan money on what they should have lost. Pretty obvious to me. The Banksters are doing it again. The problems our home values will not go up due to many foreclose homes the banks now have. They also know that they will not be taxes more thanks to the "Tan Man."

The Tan Man will be playing golf, getting drunk and getting a darker tan. He said, "I got 98% what I wanted and that still not enough!"
Ha! Ha!

Wait till he comes back. All Unemployed will be working below minimum jobs and will have to love it. MAD

Let the Apes take over instead. That should be us doing what the new movie shows.

When you mentioned home values, I immediately thought of how many people tell the unemployed to move where the jobs are. Well, if you are older and own your home outright and try to sell, then you will take a royal beating in this market. They want to keep their homes until they can sell them at a profit or at least break even. For many, this is their retirement nest egg. And for older people especially, you are not guaranteed that the job you get by relocating will be secure. It's a gamble not many older people are willing to take.

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Re: THE U.S. IS DOWNGRADED - NOW WHAT?

Post by mistermunster on Sat Aug 06, 2011 1:46 pm

TOO OLD TO HIRE IN PA wrote:
TR11005 wrote:This had to be done by our friendly Wall Street Bankers. Remember they are sitting on trillions of money. We should of let them go under. Now they will loan the money at a higher interest rate. Why would they get stuck with having low interest rate to loan money on what they should have lost. Pretty obvious to me. The Banksters are doing it again. The problems our home values will not go up due to many foreclose homes the banks now have. They also know that they will not be taxes more thanks to the "Tan Man."

The Tan Man will be playing golf, getting drunk and getting a darker tan. He said, "I got 98% what I wanted and that still not enough!"
Ha! Ha!

Wait till he comes back. All Unemployed will be working below minimum jobs and will have to love it. MAD

Let the Apes take over instead. That should be us doing what the new movie shows.

When you mentioned home values, I immediately thought of how many people tell the unemployed to move where the jobs are. Well, if you are older and own your home outright and try to sell, then you will take a royal beating in this market. They want to keep their homes until they can sell them at a profit or at least break even. For many, this is their retirement nest egg. And for older people especially, you are not guaranteed that the job you get by relocating will be secure. It's a gamble not many older people are willing to take.

Shows we are in deeper trouble than most think. This had to be planned. The Banksters and corporate elite rigged this game long ago. No hires for the 40+ crowd, LT Unemployed need NOT apply, If UNEMPLOYED DO NOT APPLY, Move if YOU cannot find a job in your area (Try to dump home they suckered you into buying) etc, etc, etc. It's a WIN/WIN for them and a LOSE/LOSE for the rest of us. And the baboons in DC ARE SILENT. When the REST of those out there LOSE their full time jobs......revolution will be the end result. has to be. There will be no choice

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Re: THE U.S. IS DOWNGRADED - NOW WHAT?

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