Thread: USA loses AAA credit Rating

Keep printing more money with nothing to back it up, keep deregulating everything and keep spending like you got it!

Buncha dumb fucks in DC need to be skinned alive. Literally.

"Interest rates: The previous top-notch AAA credit rating meant the U.S. pays lower interest on its $14.4 trillion in debt. With a downgrade, the country would likely pay slightly higher interest rates on its debt.

That would also hold true for consumers, as interest rates on consumer loans generally pace government debt (often the 10-year Treasury). Home mortgages, car loans, bank loans and other debt would likely carry higher rates.

Stock market impact: More observers are starting to think there wouldn't be much market response to a downgrade. That's because U.S. pension funds, insurance companies and other large investors are generally not required to hold AAA-rated debt, Reuters reports. They have some flexibility and likely wouldn't be forced into action.


Again the American people have to pay the price but the big $$$ players get away scott free and untouched.

People look at me like I'm crazy when I say, vote every single one of those dub bastards out. They have been entrenched too long, no matter how they say they will change the system, they never will. Democrat or Republican, just amounts to which pigs are at the trough.

obama said in his speech last week paraphrased - we don't need to raise the debt ceiling because of our inability to pay our bills, but to avoid a downgrade in our credit rating.....

basically because we can't pay our bills from overspending we need to borrow more to pay our bills or we'll lose the ability to borrow more so we can pay our bills?.....

Originally Posted by dogsoldier

People look at me like I'm crazy when I say, vote every single one of those dub bastards out. They have been entrenched too long, no matter how they say they will change the system, they never will. Democrat or Republican, just amounts to which pigs are at the trough.

The only reason we are in this mess is because the politicians WANT us in this mess. This didn't just happen overnight. The way to correct it isn't to vote them out because there are too many voting morons who only vote along party lines and for whatever the flavor of the day candidate the talk shows are promoting. The only way to correct it is to physically remove them from their offices. Too many of them are in the right places with the right connections to stay in office regardless of how voting turns out. The replacements generally aren't any better than the incumbents and you can expect more of the same.

You start by voting out your buddy Barry soon

Originally Posted by TJTJ

Again the American people have to pay the price but the big $$$ players get away scott free and untouched.

Why should the people smart enough to soar above the rat race be punished? You may not think so, but these people DO create jobs, for almost anything and everything surrounding their businesses and daily life.

Originally Posted by DEATH MATCH

You start by voting out your buddy Barry soon

Name one candidate that would actually help this country.

Originally Posted by Zaphod

Name one candidate that would actually help this country.

Ron Paul.

That wasn't meant for you, it was for Deadhead.

Originally Posted by danzik17

Ron Paul.

Fucking BINGO!

Originally Posted by danzik17

Ron Paul.

Ron Paul wants to shrink government which is not in the best interests of the working class at all.

unfortunately people have been brainwashed by the talking heads and ideologues on tv that the US government is inefficient. In reality the US gov ranks in the middle in terms of efficiency in the OECD but when you factor in the size of the population it changes the equation and the US gov is actually quite efficient for the size of the US population and all the programs it supports.

government is not the problem but how it has operated for decades is. fixing it is part of the solution, while reducing the size only gives big corps, MNE's and TNE's even more power over labor. as if they need it

Originally Posted by Muscle_Girl

Why should the people smart enough to soar above the rat race be punished? You may not think so, but these people DO create jobs, for almost anything and everything surrounding their businesses and daily life.

They create jobs when in the incentive is to create jobs, they eliminate jobs, when the incentive is to do so. Low taxes create an incentive to hoard money, which causes a loss of jobs.

If you want to make an argument that the Government shouldn't use tax rates for economic stability that's fine, and most people would probably prefer interest rates fluctuations anyways. Interest rates however, have been at 0 for some time now, and can't go any lower.

Originally Posted by Muscle_Girl

Why should the people smart enough to soar above the rat race be punished? You may not think so, but these people DO create jobs, for almost anything and everything surrounding their businesses and daily life.

it has nothing to do with intelligence and everything to do with having access to methods of earning vast sums of income via methods not available to everyone.

us capital account owners have access to free money for investments. every time a foreign nation purchases US dollars from the Treasury for use in the world market by default those monies get deposited in us capital accounts. those monies are then typically used overseas for foreign direct investments (FDI).

Originally Posted by Zaphod

The way to correct it isn't to vote them out because there are too many voting morons who only vote along party lines and for whatever the flavor of the day candidate the talk shows are promoting. The only way to correct it is to physically remove them from their offices.

It sounds like my next film: "McBAIN: Don't Answer The Door"


I require two co-stars who are also of bodybuilding type: the policeman-type with moustache attempting to protect them, and a young trigger-happy sidekick.

Originally Posted by LAM

Ron Paul wants to shrink government which is not in the best interests of the working class at all.

unfortunately people have been brainwashed by the talking heads and ideologues on tv that the US government is inefficient. In reality the US gov ranks in the middle in terms of efficiency in the OECD but when you factor in the size of the population it changes the equation and the US gov is actually quite efficient for the size of the US population and all the programs it supports.

government is not the problem but how it has operated for decades is. fixing it is part of the solution, while reducing the size only gives big corps, MNE's and TNE's even more power over labor. as if they need it

Prefacing an argument with something that basically says the other side of the debate is "brainwashed" cheapens your argument. Just an FYI.

As for the government not being inefficient? I disagree. They waste billions of dollars in redundant departments, needless weapons systems, and ineffective departments (read: TSA). My desire to shrink government does not mean that I think it should go back to pre-FDR size, however it should shrink to a more reasonable size. It's really not a question of "do we need to", running a 25% deficit is unreasonable and unsustainable.

How would shrinking the military increase corporate power over labor? Eliminating the TSA? Eliminating corporate subsidies? Eliminating foreign military aid? I'm certain there are a lot more examples that could be eliminated without giving "big corps, MNE's and TNE's even more power over labor." Would that be enough cuts? Whether it is or isn't, that's a significant amount of money saved per year with no effect on the people you're concerned about.

Originally Posted by danzik17

Prefacing an argument with something that basically says the other side of the debate is "brainwashed" cheapens your argument. Just an FYI.

As for the government not being inefficient? I disagree. They waste billions of dollars in redundant departments, needless weapons systems, and ineffective departments (read: TSA). My desire to shrink government does not mean that I think it should go back to pre-FDR size, however it should shrink to a more reasonable size. It's really not a question of "do we need to", running a 25% deficit is unreasonable and unsustainable.

How would shrinking the military increase corporate power over labor? Eliminating the TSA? Eliminating corporate subsidies? Eliminating foreign military aid? I'm certain there are a lot more examples that could be eliminated without giving "big corps, MNE's and TNE's even more power over labor." Would that be enough cuts? Whether it is or isn't, that's a significant amount of money saved per year with no effect on the people you're concerned about.

brainwashed is the only word I can think of that sums of decades of misinformation spread by the GOP in regards to things like taxes and the efficiency of the US government.

not many would debate that gov and both state and federal levels need to be streamlined for efficiency and maximum productivity.


however ideologues on the far right are talking about shrinking government to that of pre-Hoover days which means ending the Big 3, the department of education, EPA, minimum wage laws, etc.

they also want to end all public ownership of business in favor of privatization. excessive privatization causes a decrease in GDP (along with labors share of the national income) and increases unemployment as business change from focusing on high employment numbers to that of maximum profits and low payroll.

Do we honestly believe that the credit rating downgrade will break us?

I mean we were all warned and threatened by the $4/gal gas that it would do the same, yet we all continue to buy and use gas the same as before......the reality is that Americans in general have been personally wasting more of our incomes foolishly and now that prices our going up we're acting like we're poor.......we're still gonna be a nation of overconsumption and entitlements and act like spoiled brats compared to the rest of the world......nobody really appreciates the money they earn anymore like those from the WWII era and before (the greatest American generation i know).....where they only bought what they had the money for, saved, and didn't borrow, loved their country, were patiotic and there was no such thing as flag burning or you'd be beat the fuck down......

Americans have become so weak minded over the years thru media and toleration that we really are at the point of no return soon since the mindfuck/mind control is so apparent in the fearmongering all over........nobody fears the once great nation....the president goes on apology tours....the left and the right blame each other for stalling progress when the other doesn't agree with them......whatever happened to ownership, personal responsibility, and integrity?......

is anyone else looking forward to the aliens coming back and taking control again?

Originally Posted by irish_2003

is anyone else looking forward to the aliens coming back and taking control again?

since I was born....been waiting for the mother-ship to come pick me up!

Originally Posted by Zaphod

Name one candidate that would actually help this country.

Anyome except your boy barry. Anyone would be able to beat him now thats how fuk'd barry is. You fuk'n liberals keep thinking he's going to be elected because you sure will hear me on this board say I told you so and all you liberals can cry in a group hug. Your Barry is finished he can raise 2 billion it wont help him at all

Originally Posted by DEATH MATCH

Anyome except your boy barry. Anyone would be able to beat him now thats how fuk'd barry is. You fuk'n liberals keep thinking he's going to be elected because you sure will hear me on this board say I told you so and all you liberals can cry in a group hug. Your Barry is finished he can raise 2 billion it wont help him at all

I think he's still a better option than a lot of the republican field. There was a time when a lot of the republican field was respectable years ago. I still can't believe some of the tea party folks were serious about a COMPLETE default on our debt. We only had a three-week delay in voting on the limit increase, imagine what a default would have done to us!

And brother, we refer to whoever the president of the USA is as "Mr. X" or "the President". Maybe just their last name if you don't like them. No matter how much some people didn't like Mr. Bush, people didn't call him "Georgie Porgie" or anything similar.
I'm not the President's greatest fan, he disappointed me with some things he has done, but he's still the friggin' President of the United States, so it's "Mr. Obama" or "the President", maybe "Obama" if you don't like him.

Originally Posted by squigader

I still can't believe some of the tea party folks were serious about a COMPLETE default on our debt. We only had a three-week delay in voting on the limit increase, imagine what a default would have done to us!

unfortunately they don't realize that this is just speeding up the process of the decline of the USD as the primary reserve currency.

ideology and economics should never be mixed

Originally Posted by Muscle_Girl

Why should the people smart enough to soar above the rat race be punished? You may not think so, but these people DO create jobs, for almost anything and everything surrounding their businesses and daily life.

Yes they do but the also have the power to hold the country hostage. Because of Wall Street when they dont like what the Gov does they sell and the market drops and people freak out. But the reality is that Wall Street has nothing to do with Main Street (I hate to use a political pundunt's term) but all it does is make the rich richer.

About the job issue, The Bush tax cuts, they worked, for a short time. Now is the time to nix them. The amount of revenue will undoubtedly help us. They say, if we raise taxes itll hinder job growth. Well, they extended the Bush tax cuts and I dont see any new jobs being created. Do you? In fact they're letting more people go. Who says theyll create job in the future if they arent doing it now with the tax breaks.

The American people should not pay the price for the actions of others.

The richest 1% owns 99% of the wealth. The rich would have you think that you should “vote with your dollars”. But what if you don’t have money? Since the rich owns 99% of the wealth and you “vote with your money”, the rich have all the votes and you just have to take whatever crap is handed to you. But what gets in the way of the rich is “democracy” where 1 person equals one vote. The rich guy with a billion dollars still only has one vote. The people have 99% of the votes when you vote with democratic means instead of money. For example, if enough people get together and collectively vote to raise marginal tax rates for the rich back to 90%, that can happen because we have 99% of the votes while the top 1% only have 1% of the votes. Get how that works?

Corporations only know how to vote with their money. They can now give unlimited campaign contributions to buy off politicians to pass whatever laws that work in their favor. They use money to make enticing ads. They use money to bribe. But corporations can’t use democracy to further their cause because they still only have one vote. We can use democracy to win because we have all the rest of the votes.

Is this the United States of America, or the board of directors of Goldman Sachs?

Originally Posted by TJTJ

About the job issue, The Bush tax cuts, they worked, for a short time. Now is the time to nix them. The amount of revenue will undoubtedly help us. They say, if we raise taxes itll hinder job growth. Well, they extended the Bush tax cuts and I dont see any new jobs being created. Do you? In fact they're letting more people go. Who says theyll create job in the future if they arent doing it now with the tax breaks.

actually they didn't work at all. 8 years and 4T later the net job gain was even. Reagan's budget chief david stockman wrote a book years ago and he talked about the supply-side tax cuts. he even said they are total BS, nothing but a trojan horse to reduce the tax rates of the top wage earners. there is no science behind the supply-side tax cuts nor any math, it's mythology.

David Stockman: Deficit Reduction

Originally Posted by LAM

it has nothing to do with intelligence and everything to do with having access to methods of earning vast sums of income via methods not available to everyone.

us capital account owners have access to free money for investments. every time a foreign nation purchases US dollars from the Treasury for use in the world market by default those monies get deposited in us capital accounts. those monies are then typically used overseas for foreign direct investments (FDI).

I think at one point or another everyone has the same chance to make wiser decisions, this is what my point was. Everyone who has had an income has had the opportunity to invest. Its not rocket science, yet people still prefer to buy hoards of useless shit from the store.. items that they use once or twice and forget about. If these people took the money they buy the useless shit with, and invested it instead, the markets would be better, the country would be better and they themselves would be better.

Blame the Obama administration, blame the Treasury, blame S&P.. thats the easy way to deal with things. Taking a step back and looking at how you can improve your own situation takes brains.

Originally Posted by Muscle_Girl

I think at one point or another everyone has the same chance to make wiser decisions, this is what my point was. Everyone who has had an income has had the opportunity to invest. Its not rocket science, yet people still prefer to buy hoards of useless shit from the store..

but that is not the case. the working poor is the fastest growing segment of the US population in poverty. the service sector is also the fastest growing segment of the workforce and the pay there ranges from $8-$14/hr.

I was working at a Levi's over the weekend doing a repair and was talking to one of the ASM's who has a college degree. his last raise was $.21/hr

I honestly don't know how people live on these wages on 2011. I grew up in PA and we used to get paid $18/hr to shovel snow and that was in '85.

According to the BLS 62% of the working poor suffer from low wages (that's a shocker).

http://www.bls.gov/cps/cpswp2003.pdf

I know how it is, I have been there, grown up through poverty, yet my mother didn't learn her lesson. She complains about the struggle she is constantly in, but I have seen over the years that she could have changed her course a long time ago.

I am sure a lot of these "working poor" spend needlessly, and the banks are partially to blame for the credit boom, but that doesn't take the decision away from these people.

Comparing retail to a seasonal/specialized job is silly. Who knows where you were plowing, what time of day and what expenses you had to cover on your own. Not to mention the seasonal part, the wage is doubled cause you are only working a few months out of the year, and they compensate for that. I can bet that the Levi's guy had a good phone, one which he was duped into a contract or is paying far too much for, and thats just the tip of the iceberg of needless expenses he probably has.

Investments come in a range of forms.. don't like the stock market, invest in real estate.. if there ever was a time, its now, everyone is renting cause they lost their homes.

Originally Posted by Muscle_Girl

I am sure a lot of these "working poor" spend needlessly, and the banks are partially to blame for the credit boom, but that doesn't take the decision away from these people.

poor people can not get credit.

the starting wages in retail have increased $5/hr over the past 25 years.