US loses AAA Rating

nnuut said:
S&P Downgrades Fannie, Freddie Credit Ratings
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According to Bloomberg reporting, there are many other things that S&P will downgrade as government owned instruments can't have a rating better than the parent.

Interesting, more pain to come?
 
So my Freddie MAC stock falls from .33 cents to .28 cents a share. Seeing as I bought it when it was $5 a share, it's kind of late now for me to worry about Freddie Mac being down graded..... :-(
 
Mista Magee said:
And it is obvious to everyone that "you are still blinded by your hatred" of any and everything that James and FWM has to say. I enjoy and appreciate reading their comments as much as, or more so than anyone else's. "I really do feel sorry for you" and your bitter attitude toward certain posters. You tend to spoil or sour the intent of the board. I have read every one of your posts which began just a few months ago when you were clamoring for advice, help, etc. Now you're the EXPERT, especially on every post that James or FWM makes.
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No, just pointing out they're hatred for anyone who is to the right of the political spectrum. "Teahadist"; seriously. James, just goes unsaid; if you read all his posts too you would see the obvious slant.

You can slam me for rebutting their obvious blindness, whether you have it too it isn't obvious like theirs. If your issue is with my posts, have issue with theirs; just a thought.

My 'clamouring' for advice was referring to financial/investments, not political/budget issues; which, I believe, I have been fairly straight forward about.

I am sorry I have offended you or your sensibilities, but my belief that we have a lot of issues with our government's fiscal problems and that they were not SOLELY CREATED BY THE GOB OR THE TEA PARTY (which is what they spout), creates the energy for my posts.

Have a Glorious Day !!
 
Treasury Takes Exception to S&P’s Math, Saying Downgrade Doesn’t Add Up

[url]http://www.bloomberg.com/news/2011-08-06/s-p-downgrade-may-cloud-obama-re-election-bid-even-as-it-damages-congress.html[/URL]

The U.S. Treasury Department said there is “no justifiable rationale” for Standard & Poor’s move to downgrade the nation’s credit rating
... or ...
“It ought to push them more toward reality and the reality is if you spend a buck and borrow 41 cents, you have to be very stupid,”
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Really? No reason? I wonder what news they been watching. Decide for yourself.
 
Hey, it's not just me.

A lot better financial minds than me can clearly see the writing on the wall:


Is the U.S. Credit Rating a Victim of GOP Sabotage?

By Daniel Gross | Contrary Indicator

(snip..)

Recent events have sapped the agency's confidence that the government can and will do what is necessary to align revenues with spending commitments. And it's difficult to escape the conclusion that America's credit rating was intentionally sabotaged by Congressional Republicans.

It has long been obvious to all observers -- to economists, to politicians, to anti-deficit groups, to the ratings agencies -- that closing fiscal gaps will require tax increases, or the closure of big tax loopholes, or significant tax reform that will raise significantly larger sums of tax revenue than the system does now. Today, taxes as a percentage of GDP are at historic lows. Marginal rates on income and investments are at historic lows. Corporate tax receipts as a percentage of GDP are at historic lows. Perhaps taxes don't need to rise this year or next, but they do need to go up in the future.(snip)
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Yep. Not just me. A lot of people see it, and are now writing about it.
More:
http://finance.yahoo.com/blogs/daniel-gross/u-credit-rating-victim-gop-sabotage-021622372.html
 
Mista Magee said:
And it is obvious to everyone that "you are still blinded by your hatred" of any and everything that James and FWM has to say. I enjoy and appreciate reading their comments as much as, or more so than anyone else's. "I really do feel sorry for you" and your bitter attitude toward certain posters. You tend to spoil or sour the intent of the board. I have read every one of your posts which began just a few months ago when you were clamoring for advice, help, etc. Now you're the EXPERT, especially on every post that James or FWM makes.
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Sounds like you are the one with a hard on for RMI..So put a cork in it, Mista post count 52 Magoo and stop souring the intent of this thread.
 
Warrenlm said:
Businesses pass their taxes on to consumers. How about drastically controlling what is an expense and making perks, bonuses, etc.--anything nicer than a GS12 office-- come out of after tax income and make dividends ordinary income. NOW you're talking. Ooops that messes up Dennis' income strategy. But it shouldn't increase the cost of toothpaste.
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I agree 100%, business will pass it on to consumers, but when GE pays no taxes...that's getting a little ridiculous. I don't think we should increase taxes on businesses, just make the ones not paying or underpaying, put in their fare share. Again, the main problem is not the taxes, it's the spending.
 
RealMoneyIssues said:
You are still blinded by your hatred for those that succeed. I really do feel sorry for you.

Here I go to the Pen
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And it is obvious to everyone that "you are still blinded by your hatred" of any and everything that James and FWM has to say. I enjoy and appreciate reading their comments as much as, or more so than anyone else's. "I really do feel sorry for you" and your bitter attitude toward certain posters. You tend to spoil or sour the intent of the board. I have read every one of your posts which began just a few months ago when you were clamoring for advice, help, etc. Now you're the EXPERT, especially on every post that James or FWM makes.
 
clester said:
Taking us to the edge of the cliff is what they did. We need a national sales tax!
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Clester,

I'll pay a 20% national sales tax if you wipe out the Federal Gubmints authority for an income tax and a Social Security tax and a Medicare tax. I' give up ALL my deductions as well. I bet the Gubmint will come out ahead. But, bro, everybody pays that 20%.

I want the authority for the Feds to tax outside the national sales tax removed via Constitutional Amendment. I have NEVER seen a spending cut no matter what they say. I have actually never seen a balanced budget - the Clinton budget included 'investment' of Social Security assets. I also would want the sales tax ceiling to be limited by a GDP ratio or some sort.

I do not trust these yahoos.
 
Senator Bernie Sanders:
Sen. Sanders on S&P downgrade: I find it interesting to see S&P so vigilant today in downgrading the US credit rating. Where were they 4 years ago when they, and other credit rating agencies, helped cause this horrendous recession by providing AAA ratings to worthless sub-prime mortgage securities on behalf of Wall Street investment firms? Where were they last December when Congress and the White House drove up the national debt by $700 billion by extending Bush's tax breaks for the rich?
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Good Question.

Why didn't S&P, Moody's, and Fitch downgrade Fannie Mae and Freddie Mac when they started backing that crap and securitizing their garbage?



Here, I got it...

They blew it. They blew it bad. They thought the party was on and a tiny turd in the puch bowl would not be noticed.

Do you want them to blow it again?
 
Birchtree said:
My house girl also works for a hotel and has several other homes she cleans - she's a working machine. Anything she makes from me is under the table. That's known as the underground economy.
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OK, I vote for a consumption tax then, she's still going to come out way ahead.
 
My house girl also works for a hotel and has several other homes she cleans - she's a working machine. Anything she makes from me is under the table. That's known as the underground economy.
 
Birchtree said:
I have a married woman with two kids from Nicaragua who comes in every 5 weeks and works for five hours nonstop and takes away $100. You can't get a welfare recipient to work like that, be serious. We could wipe out chronic poverty tomorrow if only women would get married before having children or give up their illegitimate kids for adoption. But there's no money in doing what's right.
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5 hours 20 bucks per = 100?

no way. you mean i can make that much sitting on my ass doing nothing? what am i working for then?
 
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