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US credit ratings downgraded. Watch out Monday!

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SSSnail

SSSnail

Lifer
http://www.usatoday.com/money/economy/2011-08-05-s-and-p-downgrades-credit_n.htm

The credit rating agency said that it is cutting the country's top AAA rating by one notch to AA-plus. The credit agency said that it is making the move because the deficit reduction plan passed by Congress on Tuesday did not go far enough to stabilize the country's debt situation.
A source familiar with the discussions said that the Obama administration feels the S&P's analysis contained "deep and fundamental flaws."
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They spared Friday from the downfall, and thus created a new Black Monday. Things will be very interesting come Monday morning.

I would move this since it has become a political mess, but a big thread already exixts about it in P&N. Go call each other names there.
admin allisolm
 
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Good luck with your Chinese fraud investments.
China Media Express, Sino-Forest, China Education Alliance, etc...
 
who's the dipshit that forgot to add a S&P funding rider to the debt deal? looks like moody's got theirs though :awe:
 
Wasn't it back during the subprime mortgage crisis were these so-called rating agencies rating investment and banking institutions triple AAAs as well? And people still think they are credible?
 
Bateluer said:
Yes, obviously, we should have just raised the debt ceiling, borrowed some more money and continued with our heads in the sand. 🙄
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How was the debt ceiling delt with under bush..do tell.

Head in the sand? Sorry your bush tax cuts for the wealthy are largely responsible for this mess, so either you are benefiting from that or you are an unpaid stooge.
 
Time to get get yer own little garden, stock up on ammo, bags of rice and beans, and canned goods, desperate times....
 
Well, they're right. All that bullshit and we couldn't balance the budget. Who would loan anything to someone who couldn't do better than promising to accrue a little less debt in the future?
 
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