US Credit Rating Outlook Down Graded By S&P

http://hken.ibtimes.com/articles/135437/20...-downgraded.htm


S&P has now downgraded our "credit out look" from stable to negative after repeated warnings. Moody's is likely to follow.

After this news broke, the stock market and market futures fell, the stock market by over 200 points. Gold rose past 1500 and the dollar continued it's fall at ab accelerated rate.

China had previously lowered our rating and we are now in the company of a number of failing european countries.

When you look at the list of downgraded ratings across europe and asia, one could assume that something ominous is on the horizon.

Our downgrade came because of the lack of any "real" budget cuts to date and obama's statements since the supposed agreement was reached.

Slàinte,    

Patch    

http://hotair.com/archives/2011/01/13/mood...n-bond-ratings/


Both S&P and Moody's have now issued stern warnings that if our debt/spending problems are not addressed very soon we will loose our coveted AAA rating.

Should that happen the interest we pay on our debt (now short term to gain better rates) will go up and soon nothing will save us.

Slàinte,    

Patch    

Nah, that's just silly talk. You got to give Obama a chance to correct things yet.

If those people don't pull their heads out their asses, and do
something substantial, we are all screwed!!!!!!!!!!!!!!!!!!!!

ditto

It's been a real long toilet flush and we all are getting closer to the sewer ...

Barney Frank was interviewed today and though it was hard to understand where he was coming from he did NOT feel that the three rating companies should have any say in the business of the US. It is amazing how Barney and others of his ilk are so insulated from reality that they can not look down the road.

Raising the debt ceiling will not save us. Only halting our unrestrained and ill advised spending will preserve our credit rating.

Lincoln convinced suppliers to accept paper money to allow for the North to pay for the war. The South did the same. The paper dollars were to be redeemed at a later date. Much of the faux money was never redeemed, DEFAULT #1!

FDR took our "paper money" off the gold standard and allowed the Fed Resereve to take control of the money supply, loosely basing it on the GNP. (read "The Creature from Jekyll Island) DEFAULT #2

The above two were defaults on the faith of the American people. This one, DEFAULT #3 will be a default on the faith the Ameriucan people "and "of ALL of our lenders.

The time to prepare is nearly past. Many on the left and some of the rest of America including especially obama, still believe we can spend our way to a welfare state and economic bliss.

We do live in interesting times.

Slàinte,    

Patch    

Barney Frank and his ilk are the turds swirling around the drain. They will also be the first to say, "But I didn't think it would end up this way!" I truly believe that they enjoy creating as much havoc as possible just to watch everyone else scramble as their entertainment for the day. They care for no one else except themselves. Talk about egomania.

The time to prepare is almost past. Even though they passed the joke of a bill to raise the debt ceiling. It does nothing to address the underlying causes of the problem. America's credit rating will go down as some of the rating agencies have already indicated.

We do, indeed, live in intersting times,