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U.S. loses AAA credit rating from S&P

Discussion in 'Survival/Preparedness Forum' started by LongGun1, Aug 5, 2011.


  1. LongGun1

    LongGun1
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    http://www.reuters.com/article/2011/08/06/us-usa-debt-downgrade-idUSTRE7746VF20110806



     

    Wanna kill these ads? We can help!
    #1 LongGun1, Aug 5, 2011
    Last edited: Aug 5, 2011
  2. DoctaGlockta

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    Tipping point fellows.

    This scheisse gets real now.

    Batten down the hatches Gents.
     

    #2 DoctaGlockta, Aug 5, 2011
    Last edited: Aug 5, 2011
  3. wrenrj1

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    Aren't these the same credit agencies that gave Fannie and Freddie AAA ratings?

    Who owns THEM by the way?
     
  4. ArmoryDoc

    ArmoryDoc
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    Just one more nail in a nearly sealed coffin. :whistling:
     
  5. LongGun1

    LongGun1
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    You can spin this anyway you like..

    ..but many that did not want to "throw rocks in glass houses"..

    ..now are prepared to do just that! :whistling:


    Though we have seen a few bumps in recent times..

    ..this could be the start of a very nasty ride....better hold on tight! :shocked:
     
  6. Aceman

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    Again - who knows. Who cares

    + The leadership; Dem/repub/Tea everyone demonstrated complete failure.
    - These ARE the people who missed EVERY major scandal in history
    + We aren't responsible, we deserve it
    - Have you read the definition of AA; Pretty favorable description. AAA is ridiculously good.
    + They are just doing their job
    - They are helping eff the economy because it doesn't really matter. at the point serious default occurs, we are all effed anyhow. So they could say AAA and make everything positive or say AA and help screw us all more.

    All I know is that I will NEVER help another democratic or Republican get into office. I am for the demise of the large banks and will not give them my money any more ever. and the market is broke and useless foolishness that needs to be seriously re-engineered.
     
  7. kirgi08

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    It's begun.'08.
     
  8. cowboy1964

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    From everything I hear Canada is doing pretty well these days. Maybe Obama should figure out what they're doing right.
     
  9. LongGun1

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    Well, for starters they did not elect him & his posse of Alinsky-ists! :rofl: :supergrin:
     
  10. grasshoppa

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    Maybe, just maybe, this will motivate the politicians to get real about debt reduction.





    Yeah, wishful thinking.
     
  11. Bilbo Bagins

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    They are just doing there job. However its a vote of "No confidence" and makes investment in US Bonds, less attractive, and may cause countries like China and the UK to sell off.

    Its the begining of UGLY. What saved us today from another drop in the stock market was the decent unemployment numbers. Personally I think those books were cooked, but regardless what is happening is the USA credit card has just raised our interest rate because we are a deemed as becoming a higher risk. If China, Japan and the UK stop buying Treasuries, we have officially maxed out the credit card. The market may FREAK on Monday so be ready. We need a 2nd debt bill FAST, and something SERIOUS that includes tax hikes and DEEP DEEP cuts in spending.

    If not the economy is going to grind to a halt, and we will be force to print even more money to survive.

    We will get stagflation if we are lucky, if not it will be a full blown economic collapse.

    http://en.wikipedia.org/wiki/Stagflation

    We are in a Pickle ladies and gents. I hope you are all prepped. Get food, keep the powder dry and good luck. Hopefully we are wrong and we can all have a good laugh.
     
    #11 Bilbo Bagins, Aug 5, 2011
    Last edited: Aug 5, 2011
  12. Aceman

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    7.62x39 - the new caliber of freedom. I have always had mixed emotions on the proliferation of this round and guns that use it in this country....
     
  13. ArmoryDoc

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    Nobody in their right minds would have run a deficit up like they have and fully expected it to not be completely destructive. Fabricate a crisis and make people want something better. You can't "build anew" until you destroy the old. This is just part of the "change". "Hope" for better. Making sense now ?
     
  14. Lone Kimono

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    Well what happens now? Is inflation going through the roof? Is now a good time to buy things you've been holding off on?
     
  15. BobbyT

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    7.62x51 (pronounced ".308" in countries where you're allowed to have it) -- the caliber for grownups.
     
  16. ArmoryDoc

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    My deal ? Stay liquid. Don't buy non-essentials (not meaning guns and ammo). Pay off debt. Gold and Silver are good as well as lead. That's about the only answer I can give you.
     
  17. TangoFoxtrot

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    I don't think its time to go into panic mode yet. Sit back, let all the sheeple do that and just step on them to get out of harms way.:whistling:
     
  18. rj1939

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    The credit ratings agency has so discredited themselves over the past few years that they have little relevence anymore.
    I figure this is just an attempt to keep themselves from being a total joke.
     
  19. Bolster

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    I read the headlines this morning, and I know what all the talking heads will be saying. They'll focus in on a "two trillion dollar error," or that's what they'll call it, made by S&P. That "error" is merely a disagreement over a projection over how large the US' future debt will be. S&P thinks it'll be larger, the government (no surprise) thinks our future debt could not possibly get that big. So the government and their many (many many many) minions are calling it an "error."

    And we all know the government's incredible ability to accurately predict future debt...not! I think the most consistent governmental function has been to perpetually underestimate how damaging 'borrowing from the future' actually is to the future.

    Looks like we are finally running out of other peoples' money, as predicted.
     
    #19 Bolster, Aug 6, 2011
    Last edited: Aug 6, 2011
  20. lawman800

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    Out the frying pan & into the fire!
    Stock up on more immediate needs like food, water, toiletries, because when the prices start hyper-inflating in the markets, you won't even be able to buy them with the lines of people running to keep ahead of the price checkers and the new prices. You need those items more than guns and ammo... I say... now that I have bought way more guns and ammo then I need for myself. (is that possible?)
     
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