Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.
#1 People scoff at these agencies. They are scoffing at responsibility. S&P is probably next after some other people that don't want to lose their asses in sub prime crap.
That's all we will be with Obama. Sub-Prime crap.
Posted by newc 2012-04-08 00:06||
#2 I would downgrade us to a A personally. If Obumble gets re-elected I would downgrade further to a B.
Posted by DarthVader 2012-04-08 00:14||
#3 I'm surprised we even have a credit rating at this point.... :-(
Posted by Barbara 2012-04-08 11:44||
#4 In the absence of legitimate borrowing with the intention of repayment, perhaps we could just.... print all the extra dough we need.
Excerpt below 1)Germany was saddled with HUGE debts associated with being required to pay for the costs of World War One.
2)In order to service this debt, the Germans resorted to printing money.
3)Because of various articles of the Treaty of Versailles, Germany had almost no industry of her own anymore and had to import a large part of its basic needs.
4)In spite of their complete inability to even service their debts, Germany embarked on a series of social programs, most notably paying workers in the Ruhr Valley full wages while they were on strike.
5)As high inflation took its toll, goods and services became more and more scarce. Very few countries would export goods to Germany in exchange for the German currency and the cost of these goods exploded.
6)As the supply of goods dried up, prices skyrocketed.
Does any of this look familiar?
Posted by Besoeker 2012-04-08 11:56||
#5 Egan Jones to have U.S. office(s) raided by the FBI & SEC on Monday morning...
Posted by Raj 2012-04-08 17:54||