and
Ben
Posted on 08/05/2011 5:51:21 PM PDT by GQuagmire
NEW YORK (Reuters) - The United States lost its top-notch AAA credit rating from Standard & Poor's on Friday, in a dramatic reversal of fortune for the world's largest economy.
S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about growing budget deficits.
U.S. Treasuries, once undisputedly seen as the safest investment in the world, are now rated lower than bonds issued by countries such as the UK, Germany, France or Canada
(Excerpt) Read more at news.yahoo.com ...
” GE lost it’s AAA status under Immelt in 2009, not to mention ~2/3 of it’s former share value and tens of thousands of American GE jobs.
Since Immelt is an advisor to Obama 2011, why should anyone be suprised. “
Very True.
Notice how O’Reilly is silent on Immeldt when he was previously gung ho to out him for something.
Wonder why?
Wondering if the dots connect .... http://www.guardian.co.uk/world/2011/aug/04/police-raid-milan-moodys-standard-poors
I can remember growing up, and well into the 90s, that people would crow “ America is the greatest country on Earth”. No one says that any more. Thanks to you, President Obama, for the first time in my life I’m ashamed to be an American.
Wish it was November 2nd 2012 right now. I don’t think we as a country are going to last long enough to see the next election.
If your cat was raptured, just consider yourself fortunate.
Everyone thinks WS will crash = WS probably won’t crash
The market is an ornery, perverse thing.
Buck Up, FRiend, We have our Nation to Save. We (Americans) Will Save Her. In Jesus name, I pray. Amen.
Otherwise he might look like a "Right winger" in the Tea Party.
Ah no big deal. They’ll just investigate and demonize S & P until the sheeple hate S & P more than they do Obama.
I personally do not think gold will spike. The trend will remain up, I think. Overall, I think the pressure for reducing debt could actually be bullish.
and
Ben
I stayed up and watched this. I am now scouring the news online. When it broke I switched to MSNBC/CNN for a bit.Barney Frank called in and said ignore it his Dodd/Frank bill said this could not happen? It is everyones fault but the democrats or Obama blah blah blah. Rachel Maddow and Anderson Cooper reporting that the language said they will rasise our rating IF we ‘get more revenue’ So in other words raise taxes.
Are they insane?Can anyone read the letter online with the credit rating drop does it really say this?
Obama is due to go to Martha’s Vineyard.I am afraid of the dems all using the blame game and it will all get worse.I am afraid of Obama making ANOTHER speech Mon. and blame Bush and the weather. Bachmann was the only reasonable, precise statement.
I truly believe more Americans are awake and know that zer0 and the democRATS are insane. There are some insane on our side of the isle too. I truly believe Americans see through what has been done to our nation. I pray all those Americans who see ... Vote. May the votes be counted correctly and voter fraud be held to a minimum.
From your keyboard to Gods ears.
GB said this likely to happen 2 years ago.
I agree though, the writing has been on the wall for some time. I hope the smart freepers are preparing for the worst because it may be upon us very soon.
Read the RATIONALE
CLICK HERE to read The Rationale
If anything it is concerned about the Obama admins spending and that the super committee may not do away with entitlements. It indeed mentions raising taxes but it sounds like they are afraid the super committee MAY do this NOT that they should. It clearly states that the 2012 elections MAY not change the mess. MEANING if Obama is re-elected it is a bad thing not a good thing.
I see the sentence; where the MSM spun this to raise taxes but they are furthering the demise of our country with their agenda.This is very serious. IMO it STAINS OBAMA's Presidential record and is a slap down warning to him.I think his last speech blaming the weather and the Arab spring which is HIS funding of terrorists and the WH being so slap happy about the market drop was the icing on the cake.
I am afraid Obama will stroll out to his teleprompter Mon. morning and blame the GOP,Bush,the Arab Spring,THE WEATHER and crash everything. If he does this it will be of my opinion that he is purposefully destroying our country and that impeachment hearings should suffice immediately.Whatever spineless GOP member does not call for this if Obama plays partisan on Monday will lose their job if they have not so already in voting for the mess.
“Unexpected...?”
“While the downgrade is a blow to U.S. prestige, it was largely expected and may not have a big impact on trading of U.S. Treasuries and other assets when markets reopen in Asia on Monday.”
Really?
I think our first, and greatest, president was right. Political parties will destroy our Republic. All federal elections (really all elections) should be non-partisan. Make the Tea Party the same as the Republicans and Democrats. Lobbying organizations.
To quote George Washington in his farwell address:
All obstructions to the execution of the laws, all combinations and associations, under whatever plausible character, with the real design to direct, control, counteract, or awe the regular deliberation and action of the constituted authorities, are destructive of this fundamental principle, and of fatal tendency. They serve to organize faction, to give it an artificial and extraordinary force; to put, in the place of the delegated will of the nation the will of a party, often a small but artful and enterprising minority of the community; and, according to the alternate triumphs of different parties, to make the public administration the mirror of the ill-concerted and incongruous projects of faction, rather than the organ of consistent and wholesome plans digested by common counsels and modified by mutual interests.
However combinations or associations of the above description may now and then answer popular ends, they are likely, in the course of time and things, to become potent engines, by which cunning, ambitious, and unprincipled men will be enabled to subvert the power of the people and to usurp for themselves the reins of government, destroying afterwards the very engines which have lifted them to unjust dominion.
Towards the preservation of your government, and the permanency of your present happy state, it is requisite, not only that you steadily discountenance irregular oppositions to its acknowledged authority, but also that you resist with care the spirit of innovation upon its principles, however specious the pretexts. One method of assault may be to effect, in the forms of the Constitution, alterations which will impair the energy of the system, and thus to undermine what cannot be directly overthrown.
....Let me now take a more comprehensive view, and warn you in the most solemn manner against the baneful effects of the spirit of party generally.
This spirit, unfortunately, is inseparable from our nature, having its root in the strongest passions of the human mind. It exists under different shapes in all governments, more or less stifled, controlled, or repressed; but, in those of the popular form, it is seen in its greatest rankness, and is truly their worst enemy.
The alternate domination of one faction over another, sharpened by the spirit of revenge, natural to party dissension, which in different ages and countries has perpetrated the most horrid enormities, is itself a frightful despotism. But this leads at length to a more formal and permanent despotism. The disorders and miseries which result gradually incline the minds of men to seek security and repose in the absolute power of an individual; and sooner or later the chief of some prevailing faction, more able or more fortunate than his competitors, turns this disposition to the purposes of his own elevation, on the ruins of public liberty.
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