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Egan-Jones cuts U.S. rating (based) on debt burden (AA -- now only 3rd highest rating)
Reuters ^
| Apr 6
| Richard Leong
Posted on 04/06/2012 9:16:39 AM PDT by xzins
click here to read article
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1
posted on
04/06/2012 9:16:49 AM PDT
by
xzins
To: xzins
Cue Nelson pointing at obama, “ Ha-haa! “
To: Para-Ord.45
The firm downgraded the United States for second time in less than nine months "because of the lack of any tangible progress on addressing the problems and the continued rise in debt to GDP," said Sean Egan, co-founder of firm, in an e-mail statement.
Spending is beyond saying it's "out of control". Spending is entirely impulse and an addiction for our government....democrat and republican alike.
3
posted on
04/06/2012 9:22:14 AM PDT
by
xzins
(Retired Army Chaplain and Proud of It! Pray Continued Victory for our Troops Still in Afghan!)
To: xzins
I can say with the utmost confidence that it is unprecedented and extraordinary for Egan-Jones to reduce our debt rating based on our debt, inability to pass a budget, spendthrift president and spineless Congress.
4
posted on
04/06/2012 9:26:51 AM PDT
by
tumblindice
(our new, happy lives)
To: Para-Ord.45
To: xzins
Doesn’t Egan-Jones understand we have caring and compassionate government overlords.
6
posted on
04/06/2012 9:27:46 AM PDT
by
A message
To: A message
Guess we’re on our own after all.
To: tumblindice
unprecedented and extraordinary
Apparently, our non-law professor is also a non-economist.
8
posted on
04/06/2012 9:40:19 AM PDT
by
xzins
(Retired Army Chaplain and Proud of It! Pray Continued Victory for our Troops Still in Afghan!)
To: A message
we have caring and compassionate government overlords
dictating to us proletarians.
9
posted on
04/06/2012 9:42:15 AM PDT
by
xzins
(Retired Army Chaplain and Proud of It! Pray Continued Victory for our Troops Still in Afghan!)
To: lonevoice
To: xzins
Who is Egan-Jones? Do they matter?
To: Yardstick
Yes. They were the first to strip the US of its AAA rating last year.
12
posted on
04/06/2012 9:44:52 AM PDT
by
xzins
(Retired Army Chaplain and Proud of It! Pray Continued Victory for our Troops Still in Afghan!)
To: Yardstick
Also, they are one of a limited group of raters recognized by the Securities and Exchange Commission
13
posted on
04/06/2012 9:47:45 AM PDT
by
xzins
(Retired Army Chaplain and Proud of It! Pray Continued Victory for our Troops Still in Afghan!)
To: Yardstick
“Who is Egan-Jones? Do they matter?”
#####
What matters is that they are absolutely correct, and everyone with ANY economic aptitude knows it.
In fact, I would say they are markedly UNDERstating the case for downgrading the USSA.
14
posted on
04/06/2012 9:49:06 AM PDT
by
EyeGuy
(2012: When the Levee Breaks)
To: xzins
The real question is whom Bambi has bought off at Moody’s and Fitch in order to keep the AAA rating?
15
posted on
04/06/2012 9:59:52 AM PDT
by
DAC21
To: xzins
Okay, thanks. Didn’t know who they were.
To: EyeGuy; Yardstick
Some firms get paid for their ratings by investors in their company. Others get paid by the people they rate.
Egan doesn’t get paid by those they are rating, so they have a higher probability of being independent in their thinking.
17
posted on
04/06/2012 10:09:05 AM PDT
by
xzins
(Retired Army Chaplain and Proud of It! Pray Continued Victory for our Troops Still in Afghan!)
To: xzins
Debt rating? America only cares about women’s issues.
18
posted on
04/06/2012 10:22:50 AM PDT
by
Oldeconomybuyer
(The problem with socialism is that you eventually run out of other people's money.)
To: xzins; onyx; Liz; STARWISE; maggief
mmm mmmm mmmm
Obama’s gettin his way.
To: A message
OF course we’re broke, we’ve been bailing out economies all over the world.
20
posted on
04/06/2012 10:48:08 AM PDT
by
ichabod1
(Cheney/Rumsfeld 2012)
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