Posted on 08/05/2011 7:38:21 PM PDT by fight_truth_decay
Why the Tea Party-friendly Republicans of the U.S. House own this epic humiliation
On Friday night, after a swirl of rumors and conflicting news reports that will be grist for the Washington pundit mill for years to come, Standards & Poor downgraded the credit rating of the United States.
(Excerpt) Read more at salon.com ...
"Ha ha ha..."[e-mails pouring in] "Hillary...our country needs us I, mean you--oh boy, new interns to interview...they will be too young to remember, oh boy..!"
They publish magazines ~ they are actually called McGraw-Hill.
Tell him the race card is overdrawn!
Cheers!
Unfortunately, the vast majority of morons in this country REALLLLLY believe W caused this fiasco. I KID YOU NOT...I finished talking to a well educated friend who kept accusing W of the heartaches this country is NOW facing! AND she ain’t the only one I have come across blaming the republicans. The mediaWHORES have done their EVIL best to blame W and the republicans and UNFORTUNATELY it is working. The pubs are so damn stupid it’s beyond belief now. They better get their asses in gear fast and start pinning this disaster on the CHILD KING and his cronies. Can you say scape goat?! It’s already starting....the rats are winning the blame game while the RNC, pubs along with boner are all hiding under their beds!
Winning!
Italian police have raided the offices of Standard & Poor's and Moody's over their perceived role in escalating the Italian debt crisis.
In a bizarre move on Wednesday, police took documents from the Milan offices of the two rating agencies with prosecutors saying they were checking whether the CRAs "respect regulations" when carrying out their work.
Prosecutors in Trani - a small port town - first began investigating Moody's in May 2010 after receiving complaints from two consumer bodies about one of its rating reports which said that Italy's banks were at risk from the Greek crisis.
Standard & Poor's is being investigated because it threatened to downgrade Italy's credit rating due to its huge public debt in May this year.
Remember when Moodys fired within when warnings were made "on ratings of mortgage based investments and actively promoted those who helped create the second largest economic crisis in American history after the great depression". [ SOURCE James Pilant ]
It is. There is specific language in the Constitution that gives Congress the authority to remove a president for the things that Obama has done to us.
The problem is, no one on Capitol Hill has the cojones to actually uphold their oaths to the Constitution and the American people. The guy is quite literally destroying this nation before our very eyes, but NO ONE will do a damn thing about it.
Those 535 people who sit under the Capitol dome passing law, after law to restrict and hamstring the American people, are enabling him in every way. They're all complicit in the destruction of our country and our way of life.
You'd think that a people who had so much to lose, would arrest every single one of them, and throw the key away, but no, we're not supposed to do that. Might make the leftists amongst us mad, or the media might say nasty things about us.
I just want to scream......
Maybe the Italian government was correct to raid their offices ~ I have a feeling there's more here than meets the eye.
Dear God, you're right.
'bam wants a tax hike and this is how he'll get it.
Once again the Republicans were suckered.
Here's where 'bam has a huge advantage over us: the dems, in addition to their brigand mentality, are mathematically illiterate. Abstract ideas are meaningless to them. Free market economic theory depends on abstract reasoning, brigandry doesn't.
Dems put great stock in words. They're pretty clever with them, knowing that without words no one can lie.
Most Americans are mathematically illiterate; their eyes glaze over when confronted with technical arguments, especially when numbers are mentioned. Simple quasi-moral stories and word-piles appeal to them.
There's only one way Republicans will be able to explain things to this country: with pictures. By pictures, I mean graphics and charts. And they'd better be clear, punchy and pretty. There's a lot of visual noise out there.
The WH is saying S&P made an error. If that’s the case, how can it be the republicans’ fault?
IMHO, allowing credit companies like this to make statements like, “It’s not enough” is allowing them too much power. What will happen when a politically motivated credit rating service threatens to downgrade the nation’s rating if it doesn’t raise taxes?
Actually the US credit rating was downgraded before the Debt Ceiling debate by another rating agency. When it was clear that total current debt would only go way up, the downgrading by all agencies was inevitable. We needed massive cuts in federal programs. Did not occur. The DC ingrates refused to take their medicine and they will pay the price.
Thanks, FRiend.
You’re whistling past the graveyard...
The deal agreed to can be counted on to RAISE the National Debt by a TRILLION or more each year.
The only surprise is that ALL of the ratings agencies have not already downgraded us. Our Debt now surpasses our GDP and it CONTINUES TO INCREASE! (Shouting intended.)
It’s all going to go Planet of the Apes from here.
If we can’t throw out the RINO spenders, our fate is sealed.
Somehow they are going to just make S & P people government workers.
They have had many a chance to explain every issue we come up against and fail each time to connect, but much has to do with the media who we know is biased beyond any reasonable doubt. The Left still presides over the content of information that is put out there to influence by intimidation, fear mongering and humiliation aka bully tactics.
Reagan won because he connected with the people--they understood him, felt confident & comfortable with him, trusted him-even after he was called just a movie star or B actor, unqualified intellectually to run the country. He beat out the Left and their controlled media.
Americans are ready for person with the personal traits that make for a true leader who shall know how to protect and lead. Presently, there is no leadership--every person for themselves...all those faces fading in and out like in a nightmare makes for a complete frenzy.
Weiss Ratings beat S&P to the punch:
http://ml-implode.com/viewnews/2011-07-15_WeissRatingsDowngradesUnitedStatesDebttoCMinus.html
Weiss Ratings Downgrades United States Debt to C-Minus
2011-07-15 — weissratings.com
“Weiss Ratings, an independent rating agency of U.S. financial institutions and sovereign debts, has downgraded the debt of the United States government from C to C-minus.
The C-minus rating for the U.S. reflects a continued deterioration in the weaknesses cited in the Weiss Ratings release of April 28, 2011, including heavy debt burdens, shaky international stability, and poor economic health.
Weiss Ratings senior financial analyst Gavin Magor commented: “Our downgrade today is not contingent on the outcome of the debt ceiling debate in Washington. It is driven exclusively by the numbers, which indicate that, in addition to a decline in the long-standing weaknesses we noted three months ago, the U.S. has already lost the golden halo that helped guarantee liquidity and acceptance of its government securities in global markets.”
On the Weiss Ratings scale, which ranges from A (excellent) to E (very weak), a C-minus rating is the approximate equivalent of a triple-B-minus on the scales used by other credit rating agencies, or approximately one notch above speculative grade (junk).
About Weiss: By adhering to its independent business model, Weiss outperformed Standard and Poor’s, Moody’s, A.M. Best and Duff & Phelps (now Fitch) in warning of future life and health insurance company failures according to a 1994 study by the U.S. Government Accountability Office (GAO), while also outperforming its competitors in identifying the safest insurers, according to its follow-up study using the GAO’s research methodology.
http://weissratings.com/Login.aspx?a=r
U.S. Sovereign Debt Rating Close to “Junk”
by Weiss Ratings | July 14, 2011
“Weiss Ratings is very close to downgrading the sovereign debt rating of the United States one more notch to a ‘C –’, which will put it just one notch above junk,” Martin Weiss, President of Weiss Ratings told CNBC on Wednesday.
“In April, Weiss Ratings gave the U.S. sovereign debt rating a ‘C’. A ‘C’ is equivalent to approximately a triple-B on the S&P, Moody’s and Fitch scales. Its two notches above junk, Weiss told CNBC in May. Weiss added that while the rating was weak, the debt situation was not in a danger zone that should trigger panic.
In yesterday’s interview with CNBC, Weiss responded to Moody’s Rating Agency placing their U.S. triple-A rating on review for a downgrade in the coming weeks on mounting concern that legislators will fail to raise the debt limit in time to avert potentially drastic effects.
The U.S. government is deadlocked in negotiations to raise the $14.3 trillion debt ceiling by August 2 before a potential default. President Obama announced on Tuesday, that failure to increase the debt ceiling would jeopardize payments to Social Security and Veteran’s benefit recipients.
Weiss believes a downgrade by the large rating agencies is long overdue, noting that the top-notch standard assigned to the U.S. is unfair to investors and savers as they are not being compensated for the level of risk they are taking.
“The U.S. has a huge debt load compared to most other countries,” he said. “And, has a very unstable economy over the last 10 years compared to most other countries.” The U.S. ratio of debt-to-gross domestic product is currently over 90 percent.
“The only thing that’s really holding up the U.S. debt rating is a widespread international acceptance for U.S. Treasury securities and nice strong liquid market. But even that might be coming into question,” according to Weiss.
Weiss is hopeful that a last minute deal will fend off a potential crisis for U.S. and world markets. He pointed out that three years ago the legislature’s failure to pass a bailout package sent markets into a tailspin, and forced Congress to sign off on it.
He said, “We might see a similar scenario here in the debt ceiling debate, a failure at first and then a desperate deal in the thirteenth hour to rescue the situation at the last minute.”
Based on the government’s continued failure to agree on terms for raising the U.S. debt ceiling and the looming deadline, Weiss Ratings is reviewing its current ‘C’, rating signaling consumers that a ‘C-’ rating might be a fairer assessment under the circumstances.”
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