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 ...
” Work your whole life, save, do without some things, do all the right things and you lose to the point you can’t retire. Losing that is just about the same as losing it all isn’t it? “
401K
201K
.01K
0.00001K
Not OK
In a word - NEVER, ever since they began the rating system ...
A perfect B-day present for ole Obama...bump and grind to this tune..Mister ‘the one’
During Ramadan.....I think not.
WTF???
Just kidding.
There are still a couple of Coors Light left in that 30 pack. Want one???
I have had about as spectacular a last 4 years as anyone could really want.
And I am to the point I can’t really tell who should go first. The fools in charge. Or the fools that support them.
“Hey, dipshit...why are you giving the democrat progressives a pass?”
_______________________________________________
Hey dipship, I’m not giving them a pass at all, but if Beohner and McConnell hadn’t given Obama 2.4 Trillion upfront, and only cut 1 Trillion over 10 years...our Bond rating wouldn’t have been lowered to AA+
This lowering of our credit bond rating can be dropped at the feet of Beohner, McConnell and every other GOP member who voted for it! And shame on Laura Ingraham for pushing this crap on her show.
Impeach this Bastard!
He has deliberately put this country on a road to ruin, with his debt bomb.
Cloward Piven is a REALITY!
0bama will become more infamous than Benedict Arnold.
He is a Traitor!
I recieved emails frm IMMFA & FTP127 today. I think both should be banned. IMMFA was really pro china for some reason.
“Friday night news dump. While you were at Happy Hour...”
No sh!t! My first thought, too!
We are so screwed. Our kids are screwed. Their future fetuses are screwed even before conception...
The end of civilization as we have lived it for all of these years. Catastrophic change is in motion and I fear we are living and breathing our last breaths of freedom.
“Impeach this Bastard!”
__________________________
Screw Impeachment! This skinny bastard should be tried for treason in our Courts and hung! Let it be strong lesson to any other aspiring POS dictators.
Can you pull out of a 401k? Seems to me the best you could do was bond funds and that isn’t really the best choice anymore. This question is assuming you are still working and not of retirement age.
NO. No loss of freedom. If you have any balls at all. Sucking your last breath of life is your last breath of freedom. And if you don’t have the balls, at least lend me your hands to keep the guns loaded.
I was shootin’ to turn 50 in a couple of weeks. Looks like now I will aim to kill.
Oh. I’m not in a 401k. Just a simple employer based IRA. Cash out anytime. Pay the tax. Pay the penalty.
Obama is just fulfilling the dream of Radical Black Chicago Socialist George Wiley, the founder of the National Welfare Rights Organization, which later became ACORN.
Encourage Blacks to go in to Government Jobs, and put so many people on Gub’ment handouts that it BANKRUPTS AMERICA, so the Blacks in government when the collapse finally comes can create a SOCIALIST PARADISE with Blacks in charge....
STUDY YOUR HISTORY, FOLKS...
Ditto to that
A black socialist paradise? There ain’t enough crack in the world for that shit to happen no matter how many guns Eric Holder gives the cartels.
Read my prediction for Wall Street at the end of my post ...
This is HUGE !!!
The Discount Interest Rate is gonna go up - especially if Fitch and/or Moodys follow suit.
Cost to borrow cash, mortgage interest, credit card interest, and MOST IMPORTANT ... interest on receivables sold to factoring companies are gonna go up. This is because they base their interest rates on the Discount Interest Rate.
FYI: Factoring companies work as middlemen. They buy your accounts receivables or invoices, pay you an advance and then reimburse you for the remainder of the bill, minus a 4 percent to 5 percent fee, once the total bill is paid.
Factoring companies are EXTREMELY important to the economy. They keep small businesses running smoothly as they maintain cash flow at a constant rate.
Most businesses run on a 2-3 perecent net plus 30, meaning they get 2-3 percent of the value of the receivable from its customer up front, but has to wait 30 days for the balance. In the interim, they still have to buy supplies, equipment, meet payroll, etc. Factoring companies solve this problem. When the cost of factoring goes up - businesses USUALLY LAYOFF people. This leads to higher unemployment.
As for Wall Street on Monday - DOWN 250 to 300 ...
Ditto to your ditto but what ditto are we dittoing about?
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