Fitch credit agency warns about possible US credit downgrade.....

[Ryan]

http://www.streetinsider.com/Credit...AA+IDRs+on+Rating+Watch+Negative/8779274.html

And to think...the talking heads on Fox News and the Tea party tell me that nothing bad will happen if we hit the debt ceiling.....That it might actually be good! 🙄

 

[Paul98]

And if it happens fox news will both blame Obama for it happening and say what it's good they were right and that they are happy it happened.

 

[s0me0nesmind1]

What happened when S&P tried to downgrade the US? Exactly. You have no idea what you're talking about.

Go play along with the rest of the media puppets.

 

[xBiffx]

Hitting the debt ceiling has nothing to do with our ability to service the debt. These people are just doing this for attention and a reaction.

 

[boomerang]

Stock up on food and water. The rioting could be intense.

 

[s0me0nesmind1]

Hitting the debt ceiling has nothing to do with our ability to service the debt. These people are just doing this for attention and a reaction.

And a lawsuit like S&P was graciously awarded.

 

[Thebobo]

I would personally like to thank all the tea party members in congress who are costing us billions in interest for this mess.

God bless you

 

[Fern]

http://www.streetinsider.com/Credit...AA+IDRs+on+Rating+Watch+Negative/8779274.html

And to think...the talking heads on Fox News and the Tea party tell me that nothing bad will happen if we hit the debt ceiling.....That it might actually be good! 🙄

I'm pretty sure we hit the debt ceiling some months ago.

Edit: And do you remember high how rates went the last time we were downgraded? No, me neither since it had no effect whatsoever.

Fern

 

[GuitarDaddy]

I'm pretty sure we hit the debt ceiling some months ago.

Edit: And do you remember high how rates went the last time we were downgraded? No, me neither since it had no effect whatsoever.

Fern

Great logic! The last time we fell asleep at the wheel and drove in the ditch nothing bad happened, so lets do it again. I'm sure nothing bad can happen this time 😵

 

[Fern]

Great logic! The last time we fell asleep at the wheel and drove in the ditch nothing bad happened, so lets do it again. I'm sure nothing bad can happen this time 😵

Hey bonehead, nobody's talking about the last time. I'm talking about this time. We hit it a couple of months ago.

Fern

 

[OverVolt]

US should make the date by law October 5th and give the some more time cause they are cool and have superpowers like that. Like a server rollback, except, the real world and stuff. Everyones bills get 10 extra days woohoo.

 

[Texashiker]

And to think...the talking heads on Fox News and the Tea party tell me that nothing bad will happen if we hit the debt ceiling.....That it might actually be good! 🙄

Anything that happens will be a man made creation.

The sun will still rise, set and the seasons will still change.

 

[GuitarDaddy]

Hey bonehead, nobody's talking about the last time. I'm talking about this time. We hit it a couple of months ago.

Fern

Hey sock puppet!

We hit it last time also, but a deal was reached before treasury ran out of extraordinary measure to pay the bills. And just the fact that we came close earned a minor downgrade. Now pretend you know what will happen when we actually do default and enlighten us, I'm sure it will be entertaining

 

[GuitarDaddy]

Anything that happens will be a man made creation.

The sun will still rise, set and the seasons will still change.

Tell the folks that lose their jobs and their homes that its OK because the sun still rises and sets and the seasons still change. I'm sure that will be of some consolation to them

 

[Texashiker]

Tell the folks that lose their jobs and their homes that its OK because the sun still rises and sets and the seasons still change. I'm sure that will be of some consolation to them

I feel for those people, I really do. There have been a few times when I was almost homeless. But I was lucky enough to have a support chain.

 

[Fern]

Hey sock puppet!

We hit it last time also, but a deal was reached before treasury ran out of extraordinary measure to pay the bills. And just the fact that we came close earned a minor downgrade. Now pretend you know what will happen when we actually do default and enlighten us, I'm sure it will be entertaining

Hey Lemming!

We're not going to fault. It's been explained so many times here and in the MSM there's no use repeating it. But carry on with your FUD campaign and fear mongering.

Fern

 

[werepossum]

Hey Lemming!

We're not going to fault. It's been explained so many times here and in the MSM there's no use repeating it. But carry on with your FUD campaign and fear mongering.

Fern

We're not going to default immediately, no, unless Obama decides to do it to increase the pain. But at some point we'll have to either have a deal or default.

 

[boomerang]

We hit the debt ceiling on May 19th of this year.

http://www.economist.com/news/finan...ls-lift-limit-americas-debts-consequences-are

In the meantime, the shutdown is doing little damage. For one thing, it applies only to the third of federal spending that Congress has to reauthorise each year. The rest, including interest payments on America’s debts and outlays on Social Security (government pensions), Medicare (health care for the old) and most government assistance for the poor, carries on as usual. In addition, functions that fall within the affected third but are deemed essential, such as defence, air-traffic control and disaster assistance, not to mention Congress and the White House, are exempt.

I really don't understand what's driving all the hysteria. I don't see it being fueled by the press and I don't even see it coming from the government. So, this is self-inflicted hysteria based in...what? We must assume a lack of knowledge.

 

[Fern]

We're not going to default immediately, no, unless Obama decides to do it to increase the pain. But at some point we'll have to either have a deal or default.

No, there is no reason to default on debt. It can easily be rolled over and we have plenty of monthly revenue to pay the interest.

The options are deal or suffer major reduction in spending. I suspect it will be a deal whereby the Repubs fold.

Fern

 

[Incorruptible]

OP clearly doesn't have any idea what he is talking about since reaching the debt ceiling and defaulting are different. If the payments on the interest are made then there isn't a problem.

Fox News is right and the OP is wrong.

 

[HTFOff]

http://www.streetinsider.com/Credit...AA+IDRs+on+Rating+Watch+Negative/8779274.html

And to think...the talking heads on Fox News and the Tea party tell me that nothing bad will happen if we hit the debt ceiling.....That it might actually be good! 🙄

I cringed reading this. How old are you? I hope for your sake still a teen. The combo of blissfully uninformed + hate for evil republicans leads me to believe so.

 

[Attic]

No, there is no reason to default on debt. It can easily be rolled over and we have plenty of monthly revenue to pay the interest.

The options are deal or suffer major reduction in spending. I suspect it will be a deal whereby the Repubs fold.

Fern

Sounds like this is understood, but for emphasis, this.


I'll stand by history.

 

[Mxylplyx]

I feel for those people, I really do. There have been a few times when I was almost homeless. But I was lucky enough to have a support chain.

Are you fucking serious? People who lose their jobs or a large chunk of their retirement assets could give a shit about your sympathy. This is a man made crisis that simply didn't have to be, no matter what these tea party idiots try to tell you. Boehner could end it tonight if he wanted to.

 

[Gintaras]

No, there is no reason to default on debt. It can easily be rolled over and we have plenty of monthly revenue to pay the interest.

The options are deal or suffer major reduction in spending. I suspect it will be a deal whereby the Repubs fold.

Fern

Fairy Tale...

Printing money...containers with brand new underwear for you coming from China...Rivers of Oil flowing from Mid-East....

Just live and enjoy...and keep posting on Anand Tech...

What a Life...


Fairy Tale...Forever....

https://www.youtube.com/watch?v=xFVdvXGIT34

 

[werepossum]

No, there is no reason to default on debt. It can easily be rolled over and we have plenty of monthly revenue to pay the interest.

The options are deal or suffer major reduction in spending. I suspect it will be a deal whereby the Repubs fold.

Fern

Working just from memory, roughly 80% of government is still working but our budget is roughly 25% newly borrowed money. I don't think we can make that math work for more than a month or three. Most people who are working but not being paid do not have the ability to go more than a month or two with no income, and as they transition to food stamps and WIC and UI those spending streams will quicken. We can simply will money into existence, but under our current system that money belongs to the Fed and can only be loaned to government, and government can only borrow to existing amounts. And that's even assuming we can find takers at the same interest rates, which isn't guaranteed. We may find that we simply cannot borrow to authorized levels at the same low rates.