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| Economy |
| US credit rating cut for first time in history |
| 2011-08-05 |
 THE United States' credit rating has been cut for the first time with Standard and Poor's lowering it from triple-A to AA+, citing the country's looming debt and deficit burden.S&P today attached a "negative outlook" to the new rating, while government sources involved in the negotiations with the agency attacked its analysis as deeply flawed. It is first US debt downgrade in history |
| Posted by:tipper |
| #7 You own it, Barry. Lock, stock, and barrel... |
| Posted by: tu3031 2011-08-05 23:01 |
| #6 Its not like S&P didn't state what they were interested in with the budget. Listened to a guy on radio, said all the right things, seemed to know what he was talking about. He had some snide remarks for S&P, like where have you been until recently and why now that the problem is being publically addressed? Can't say I disagree with either one of them. My question would be why would anyone loan money to a drunkard, unless it is a down payment or purchasing a controlling interest. |
| Posted by: swksvolFF 2011-08-05 22:10 |
| #5 Coinage Act of 1792, section 19 stipulates "that the penalty for anyone who would debase the coinage of the US, is death. So what to use, gallows, guillotine, gas chamber? Sleep tight Obummer, hope you enjoyed your birthday. |
| Posted by: tipper 2011-08-05 21:48 |
| #4 Not surprising. We are technically bankrupt. If you owe more than 50% of what you earn, you are bankrupt. While I believe the US will pay its debts, I would not be willing to loan it money without a higher interest rate. |
| Posted by: DarthVader 2011-08-05 21:44 |
| #3 "America's governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed" You thought the clowns in D.C. were stable and effective? Don't get out much, do ya'? (Predictable, they are - I've predicted for a long time that given the choice of doing what's right for the country or lining their pockets, they'll line their pockets every time.) |
| Posted by: Barbara 2011-08-05 21:34 |
| #2 Excerpt: The political brinksmanship of recent months highlights what we see as America's governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. |
| Posted by: Anguper Hupomosing9418 2011-08-05 21:27 |
| #1 Full text |
| Posted by: tipper 2011-08-05 21:21 |