94840The USA is nothing like Greece and this downgrade need not have happened at all. It's also fixable if there's the political will.Originally Posted by ;
94840The USA is nothing like Greece and this downgrade need not have happened at all. It's also fixable if there's the political will.Originally Posted by ;
94849Its seemingly had some influence on the markets - http://www.telegraph.co.uk/finance/f...downgrade.html
Personally I thought It'd mean nothing if anything else I thought USD would rise as Folks do not see treasuries in another way on Monday as they did on Friday (earlier downgrade). At the day's end Govt is still believed by most investors. Bonds are risk less and there might be interest come.
Anyway it appears the Saudi's reacted negatively so It would not surprise me if additional global markets followed suit (though I don't believe the dow will drop 5.5percent but could be red).
94849The Saudi market was closed on Friday and Thursday so maybe it was ching up?
As for the impact it will have I am not sure, I believe the large investors who go the markets are much smarter than the politicians and media and those investors understand exactly how unreliable the rating agencies are. They were exactly the very same agencies that rated bonds tainted with junk AAA that is subprime.
My personal opinion is the USA's problems are largely political and self inflicted.
94849Oh please, even if you can not develop something much better than the weak flow medias manufactured position trying to blame the Tea Party just stop posting...
that's as lame as it gets. . It is called Propaganda. . .if you do not recognize itwas popularized in areas like the former Soviet Union, China, N Korea, Cuba and is now fully embraced by the current U.S. adminiion.
I suppose you also believe the T/P's are terrorist, wait let me go ask my grandma what terrorist cells she currently belongs to...
94849Wellthey didn't downgrade US into Greece's rating that's CC or CCC. And I support this decision. I see it as a game between rating agencies and home and I am on SP side this time.Originally Posted by ;
94849Well, since SP said so. Their inability to compromise relating to revenue and utilizing the hardline strategy to stall the debate. They have been basically playing chicken with the president to see who blinked first. They thought that he would cave and consent for their strategy if he wanted the US to avoid the defaultOriginally Posted by ;
An excerpt in the SP answer:
#8220;The majority of Republicans in Congress continue to resist any step that would increase revenues#8221;
The Washington Post supported it in this article http://www.washingtonpost.com/busine...I_story_1.html.
Whilst not the only reason after all we have a growing debt limit it was a contributory element.
Aside from the above mentioned, since china is holding the majority of our debt, anybody see China coming as the new reserve currency? Appears to me that the longer we are hemorrhaging we will be supplanted by the need for stability in the world markets.
94849Terrorists? Not at all... Tell me, is your Tea Party Grandmother a wealthy girl?Originally Posted by ;