I seriously would have thought the US would have had to be bankrupt for them to downgrade their debt. Everyone here seems to be saying they knew this was coming and its no big deal its obvious that the downgrade was gonna happen. Didnt they have subprime at AAA and didnt downgrade it till it already had collapsed?
First: S&P did not DOWNGRADE. Get the facts correct or you sound like a typical PARASITE PROGRESSIVE. They said going forward, the potential of a down grade is real.
"The last time a rating agency downgraded their US outlook was in 1996 - the last time Republicans threatened to block a debt ceiling vote. ..."
relax guys Q3 is coming and the debt ceiling will be lifted and USA will be merry again As I said before; As long as the whole world trusts in printed american paper money, nothing will happen to USA. The key element in determining the future of USA is the value of the printed paper. Don't wake the sheeple, let them trust the paper.
Perhaps S&P is thinking that we might be goaded into fiscal sanity... ?? Ha! NEVER! We will NOT be goaded...
They didnt downgrade their outlook on US debt? What is it then? Yes I know they maintained their AAA credit rating.
Quote from EMRGLOBAL: Not saying this going to happen. But you remember what happen to Nick Gleson and the Bank of England when a Earth Quake hit Asia. ***************************** Yeah wouldn't want to spout off without knowing the facts.
Yea, Nick got bitched slap'd by the Quake in Japan. That was the final push over the edge. I guess what your saying is a BLACK SWAN could push us over the edge. But the S&P threat to downgrade US Debt was "FORWARD GUIDENCE" in a sense. We still hold AAA status. But as long as JAPAN ( who just announced that it is still buying US Bonds), China, et all keep buying our paper......AAA will remain.
QE3 and the raise in the debt ceiling should easily take the markets up another 50% to fresh historical highs, with all the POMO in the market why stop now, its free money for most of the wealthy individuals in this market, as for the nearly 50 million people in poverty, well they aren't feeling any of this wealth since the gap between the rich and the poor is the widest its ever been in history!!!!!! Only way to keep the markets running higher and the economy propped up is to keep feeding it more debt and cheap money. Take that away and dont be surprised by the next collapse in the market!!!
Why there is still a triple AAA status is beyond my wildest imagination, I think its really funny that its still hanging on triple AAA....