US credit ratings downgraded. Watch out Monday!

[qliveur]

bush tax cuts for the wealthy

are a drop in the bucket.

Both parties have failed miserably, and they both have to go.

 

[nageov3t]

Thank you Tea Party and Republicans in general, for being asshats.

it's bipartisan fuckery.

the Democrats could have resolved the entire debt ceiling debacle by raising it when they controlled both houses of congress, but purposefully didn't because they wanted the Republicans to be forced to.

http://www.youtube.com/watch?v=CiA--Nj8eEI

they also could have actually put up a fight on not extending the Bush tax cuts, insisting on tax increases, and reformed filibuster use in the Senate to get all of that accomplished, but I don't believe the Democrats have met a cause they're not willing to surrender on.

 

[HamburgerBoy]

it's bipartisan fuckery.

the Democrats could have resolved the entire debt ceiling debacle by raising it when they controlled both houses of congress, but purposefully didn't because they wanted the Republicans to be forced to.

http://www.youtube.com/watch?v=CiA--Nj8eEI

they also could have actually put up a fight on not extending the Bush tax cuts, insisting on tax increases, and reformed filibuster use in the Senate to get all of that accomplished, but I don't believe the Democrats have met a cause they're not willing to surrender on.

You're completely misinterpreting his intentions. Mr. Reid realizes the danger of the one party system, and him aware the competitive spirit that two parties in fair opposition creates, decided to wait so that the interests of all of America could be reached.

 

[Imp]

...also, why the fuck do we care what S&P--the company that repeatedly gave AAA ratings to AIG, Lehmans, Bear Stearns, Frannie/Freddie, DESPITE the repeated warnings from many, many sources, over several years before their collapse?

why does what they say matter any more?

Because this is the "market" we're talking about. The "market" that overreacts and takes advantage of every little bit of information, blows it out of proportion despite solid fundamentals, then uses it to cause a massive sell off. Just think back to February and March when Libya revolted. OMFG, da oyle no flow no mor, jack up oil prices, sell stocks, buy gold!

 

[qliveur]

You're completely misinterpreting his intentions. Mr. Reid realizes the danger of the one party system, and him aware the competitive spirit that two parties in fair opposition creates, decided to wait so that the interests of all of America could be reached.

 

[mcmilljb]

What is the historical default rate for corporate and municipal security issues rated AAA?
Have you done your research?

WTF? They didn't do their research, which is why they took the money and gave the AAA rating. It's called a scam which is what the rating agencies did to help the mortgage securities collapse. Alan Greenspan is on the record saying he didn't know what was in those mortgage backed securities. If the regulators didn't know what was in them, you're telling me S&P could magically tell me they were AAA? Bull shit.

Even the rating agencies admitted they fucked up when they downgraded their AAA ratings to "junk" status.
http://www.bloomberg.com/news/2011-...ressure-by-goldman-ubs-levin-report-says.html

 

[lothar]

WTF? They didn't do their research, which is why they took the money and gave the AAA rating. It's called a scam which is what the rating agencies did to help the mortgage securities collapse. Alan Greenspan is on the record saying he didn't know what was in those mortgage backed securities. If the regulators didn't know what was in them, you're telling me S&P could magically tell me they were AAA? Bull shit.

Even the rating agencies admitted they fucked up when they downgraded their AAA ratings to "junk" status.
http://www.bloomberg.com/news/2011-...ressure-by-goldman-ubs-levin-report-says.html

You didn't answer my question.
What is the historical default rate for corporate and municipal security issues rated AAA?

 

[mcmilljb]

You didn't answer my question.
What is the historical default rate for corporate and municipal security issues rated AAA?

How much is tea in China?

http://en.wikipedia.org/wiki/Municipal_bond#Default_rates
I guess their AAA rating was justified when compared to the "historical default rate for corporate and municipal security issues rated AAA."

 

[KeithP]

Thank you Tea Party and Republicans in general, for being asshats.

Are you really that stupid?

-KeithP

 

[TheTony]

Might want to reconsider the trustworthiness of the math that led to the rating...

Two trillion dollar error by S&P: http://www.reuters.com/article/2011/08/06/usa-rating-sp-error-idUSN1E77500420110806

 

[JulesMaximus]

Ah, the land of manipulated currency, "fancy" accounting practices, empty cities, massive inflation...

Time to go learn Mandarin.

Are you sure you're talking about China?

 

[HamburgerBoy]

Are you sure you're talking about China?

#1 and #3 certainly apply...

 

[TakeNoPrisoners]

So this means we are going to do something about our debt right?

 

[0roo0roo]

So this means we are going to do something about our debt right?

no it means the repubs are more worried about tax cuts than keeping our navy sea worthy.
http://www.wired.com/dangerroom/2011/07/over-a-fifth-of-navy-ships-arent-ready-to-fight/
never mind the other weapons systems they'll have to cut.

 

[911paramedic]

Nearly 15 percent of the U.S. population relied on food stamps in May, according to the United States Department of Agriculture.

We have quite a few problems around here.

 

[zanejohnson]

Nearly 15 percent of the U.S. population relied on food stamps in May, according to the United States Department of Agriculture.

We have quite a few problems around here.

that's what happens when the rich get richer and the poor get poorer...

 

[HamburgerBoy]

Nearly 15 percent of the U.S. population relied on food stamps in May, according to the United States Department of Agriculture.

We have quite a few problems around here.

The highest concentration of food stamp users were in California, Florida, New York and Texas -- where more than 3 million residents in each state received food stamps in May.

Yep, it's all the fault of those damn Southern states.

 

[zanejohnson]

i see it like this..

we spend WAY to much money on the wars... the wars on islam (terror) the wars on drugs (pharma wants all that money, they'd be fucked if drugs were legal (even pot) so they'll stay illegal)

and the companies who pay off the lawmakers spend too much of there money doing just that, than to hire... and accounting isn't morally justified, so they have no problem hiring oversees for pennies on the dollar...

this is the problem.

and then these douchebags on the far right who DO NOT CARE what Obama does, they just want to hate on him... because he's black. there i said it. Everyone knows it.

its sad because i bet in 15 years Obama will be looked upon like JFK or Clinton... because we will pull out of this... and the repubs will look stupid for having such a fit over the whole thing... and the dems will look stupid for being democratic, and not being crazy right wing imbeciles who were willing to use this type of crap for political meandering.....

prime example...

Reid's quote right after the downgrade... he says, basically exactly what S&P said.. IT'S THE POLITICAL MEANDERING (PARTICULARLY THE REPUBS) THAT CAUSED THIS. and watch this.. the repubs will STILL not be able to put taxes on the table, because of what i said in my first paragraph. and the dems... (the real ones are just sick of this, ready to make a deal)

look at John Beohners speech.. VERY FIRST THING HE DOES, is try to pin this straight on Obama... lol.. after he tried to look like such a badass getting this passed... AFTER, he couldn't even ensure his own party would stand behind him..

sad some people dont realize what's going on... and sad, that in my hillbilly state, the one toothed poor as dirt hillbillys...who are on foodstamps, and about to lose there job to the next illegal, or cheaper to employ person... are still gungho repubs.. when the repubs, are actually stabbing them. directly, in the back.

 

[StrangerGuy]

Government for the corporations by the corporations. How surprising.

 

[0roo0roo]

Yep, it's all the fault of those damn Southern states.

http://www.huffingtonpost.com/2010/...he-_n_742967.html#s146769&title=1_Mississippi


and..
http://en.wikipedia.org/wiki/List_of_U.S._states_by_GDP
sort by gdp per capita

so you were saying?

 

[HamburgerBoy]

Poorest isn't everything. We Southerners have pride and dignity. I bet half the New Yorkers and Californians collecting food stamps drive BMWs.

 

[0roo0roo]

Poorest isn't everything. We Southerners have pride and dignity. I bet half the New Yorkers and Californians collecting food stamps drive BMWs.

yes...everybody knows this....

 

[IAteYourMother]

Yep, it's all the fault of those damn Southern states.

O really? The states with the most residents (by far) also have the most food stamp users???

 

[HamburgerBoy]

O really? The states with the most residents (by far) also have the most food stamp users???

Highest CONCENTRATION.

 

[IAteYourMother]

Highest CONCENTRATION.

Doesn't mean per capita, or are you fucking retarded?


Oh here, something that you can actually understand.

http://blogs.wsj.com/economics/2011...mericans-receive-food-stamps/tab/interactive/