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1 laZardo  Fri, Aug 5, 2011 2:08:58pm

LITHGOW/COLBERT 2012

FOR A BEST AMERICA

2 albusteve  Fri, Aug 5, 2011 2:26:03pm

feed the beast

3 Kragar  Fri, Aug 5, 2011 2:26:51pm

re: #2 albusteve

feed the beast

Like grizzly bears?

4 Killgore Trout  Fri, Aug 5, 2011 2:26:52pm

Looks like this is the source of the market's instability the past few days....
US Braces for Possible S&P Downgrade: Source
Bloomberg also reported this earlier and then retracted. If this anonymous source is full of shit he should be charged, This is fucking up a lot of people's lives.

5 Killgore Trout  Fri, Aug 5, 2011 2:28:20pm

Uh oh, is it true?
Govt official: US expecting S&P downgrade

A government official tells ABC News that the federal government is expecting and preparing for bond rating agency Standard & Poor’s to downgrade the rating of US debt from its current AAA value.

Officials reasons given will be the political confusion surrounding the process of raising the debt ceiling, and lack of confidence that the political system will be able to agree to more deficit reduction. A source says Republicans saying that they refuse to accept any tax increases as part of a larger deal will be part of the reason cited.

The official was unsure if the bond rating would be AA+ or AA.


Fuck.

6 Charles Johnson  Fri, Aug 5, 2011 2:29:42pm

re: #5 Killgore Trout

Uh oh, is it true?
Govt official: US expecting S&P downgrade

Fuck.

And it's totally on the GOP. The entire debt limit crisis was manufactured by the Republican Party for political purposes, and this did NOT have to happen.

7 Kragar  Fri, Aug 5, 2011 2:31:12pm

re: #6 Charles

And it's totally on the GOP. The entire debt limit crisis was manufactured by the Republican Party for political purposes, and this did NOT have to happen.

I expect them to take as much responsibility over this as the counter-jihadis are taking over Norway.

8 Brother Holy Cruise Missile of Mild Acceptance  Fri, Aug 5, 2011 2:33:38pm

re: #5 Killgore Trout

Fuck, Fuckity Fuck Fuck.

9 Lord Baron Viscount Duke Earl Count Planckton  Fri, Aug 5, 2011 2:33:45pm

Part of a Fjordy comment from that old thread Charles pointed out:

Helle Klein, then the political editor-in-chief of Sweden’s largest newspaper, is standing in front of a banner which reads “A Sweden for all — Stop the Nazi violence,” warning against Islamophobia in the media. If you pronounce “A Sweden for all” in Swedish, it sounds pretty much like “A Sweden for Allah.” Purely coincidental, of course.

Heheheh.

10 Alexzander  Fri, Aug 5, 2011 2:33:59pm

re: #6 Charles

And it's totally on the GOP. The entire debt limit crisis was manufactured by the Republican Party for political purposes, and this did NOT have to happen.

Well, it depends on how deeply you want to look at the economic environment.
Certainly, the expansion of the military industrial complex and the bush tax cuts have contributed to instability and hilarious debt over the past 10 years.
But I think the routes of our financial predicament go all the way back to some of the troubling or irresponsible assumptions of neoliberal economics.

11 Killgore Trout  Fri, Aug 5, 2011 2:34:18pm

re: #6 Charles

And it's totally on the GOP. The entire debt limit crisis was manufactured by the Republican Party for political purposes, and this did NOT have to happen.

So it looks like Obama chose to risk the downgrade instead of trying to push the Republicans into revenue hikes which would have possibly ended in default. Ugh.

12 makeitstop  Fri, Aug 5, 2011 2:34:47pm

re: #6 Charles

And it's totally on the GOP. The entire debt limit crisis was manufactured by the Republican Party for political purposes, and this did NOT have to happen.

The question now becomes whether the media will allow Obama to tie this around Boehner/Cantor's necks like it should be.

I expect a full weekend of both sides being to blame.

The Tea Party is probably doing a Snoopy Dance right now. Bastards.

13 Killgore Trout  Fri, Aug 5, 2011 2:35:20pm

re: #8 Dreggas

Fuck, Fuckity Fuck Fuck.

very much not good.

14 Alexzander  Fri, Aug 5, 2011 2:36:06pm

re: #13 Killgore Trout

very much not good.

Wasn't it common knowledge a week or so ago that every considered budget plan would still result in a downgrade?

15 Daniel Ballard  Fri, Aug 5, 2011 2:36:12pm

re: #6 Charles
re: #5 Killgore Trout

And that gentlemen is exactly why the amendment issue was worthwhile IMO. "Shall Not Be Questioned" is a phrase that is easily comprehensible, even by Republicans. A phrase seemingly designed to resolve confidence issues as S&P has. .

16 makeitstop  Fri, Aug 5, 2011 2:36:22pm

re: #10 Alexzander

Well, it depends on how deeply you want to look at the economic environment.
Certainly, the expansion of the military industrial complex and the bush tax cuts have contributed to instability and hilarious debt over the past 10 years.
But I think the routes of our financial predicament go all the way back to some of the troubling or irresponsible assumptions of neoliberal economics.

Sorry, I'm not accepting false equivalencies today.

John Boehner and Eric Cantor did this, period. Full fucking stop.

17 Kragar  Fri, Aug 5, 2011 2:36:55pm

re: #9 Sergey Romanov

Part of a Fjordy comment from that old thread Charles pointed out:

Heheheh.

California is already Islamized. Its got Caliph right in the name.
/

18 Charles Johnson  Fri, Aug 5, 2011 2:37:18pm

re: #11 Killgore Trout

So it looks like Obama chose to risk the downgrade instead of trying to push the Republicans into revenue hikes which would have possibly ended in default. Ugh.

It's a logical position, when faced with nihilism. Default would have been worse.

19 Gus  Fri, Aug 5, 2011 2:37:21pm

re: #5 Killgore Trout

Uh oh, is it true?
Govt official: US expecting S&P downgrade

Fuck.

Everything was seemingly stable until the TGOP got involved.

20 ProGunLiberal  Fri, Aug 5, 2011 2:39:16pm

OT, but there is one hell of a fire occurring at an apartment complex some of my friends live at.

In fact, Hoosier can probably see the smoke, if descriptions are correct.

Hoosier! We need your commentary and stuff.

21 laZardo  Fri, Aug 5, 2011 2:39:35pm

re: #6 Charles

And it's totally on the GOP. The entire debt limit crisis was manufactured by the Republican Party for political purposes, and this did NOT have to happen.

I think it would be safe to assume that it'll ensure their re-election next year rather than compromise it.

22 Killgore Trout  Fri, Aug 5, 2011 2:39:43pm

re: #14 Alexzander

Wasn't it common knowledge a week or so ago that every considered budget plan would still result in a downgrade?

I'm not sure, there might have been talk about it but it's so hard to tell what BS and what's real.

23 simoom  Fri, Aug 5, 2011 2:40:29pm

re: #18 Charles

It's a logical position, when faced with nihilism. Default would have been worse.

Yeah, Fitch and Moodys had both basically said that if a deal on the debt ceiling wasn't reached they'd have downgraded, and now both have reaffirmed our AAA rating.

24 Alexzander  Fri, Aug 5, 2011 2:41:10pm

re: #16 makeitstop

Sorry, I'm not accepting false equivalencies today.

John Boehner and Eric Cantor did this, period. Full fucking stop.

If black and white portrays of complex systems make you feel better, go for it.

25 albusteve  Fri, Aug 5, 2011 2:41:36pm

re: #22 Killgore Trout

I'm not sure, there might have been talk about it but it's so hard to tell what BS and what's real.

LOL!...no shit
therefore I assume that nothing is exactly honest

26 ProGunLiberal  Fri, Aug 5, 2011 2:41:36pm

re: #20 ProLifeLiberal

It's at the south end of the University's Golf Course, about .88 miles from the weather center, and 1.4 miles from where I am living next year.

27 makeitstop  Fri, Aug 5, 2011 2:45:19pm

re: #24 Alexzander

If black and white portrays of complex systems make you feel better, go for it.

Look at the article. S&P themselves say that the big reason they're downgrading is because the TGOP won't consider taxes.

The debt ceiling has been a matter of housekeeping forever. Boehner and Cantor saw it as a means to make gains that never would have passed through the legislative process.

And it wasn't 'neoliberals' who parrot 'tax cuts raise revenue' like a bunch of deranged freaks. You'll need to look on the other side of the aisle to find said deranged freaks.

You're right, it's black and white. No 'both sides do it' here. Not for this.

28 simoom  Fri, Aug 5, 2011 2:45:30pm

If this does happen we're going to be hearing a whole lot of, "Barack Obama is the first U.S. President in history to preside over a credit rating downgrade." FNC and GOP guests on the rest of the media had already been pushing that line as they discussed a potential future downgrade, so you can nearly guarantee that will be a constantly hammered talking point.

29 Digital Display  Fri, Aug 5, 2011 2:47:17pm

re: #20 ProLifeLiberal

OT, but there is one hell of a fire occurring at an apartment complex some of my friends live at.

In fact, Hoosier can probably see the smoke, if descriptions are correct.

Hoosier! We need your commentary and stuff.

I think it's the apt. building off of Constitution.. The police have it blocked off.. I heard a few fire trucks go by about 30 minutes ago..

30 SanFranciscoZionist  Fri, Aug 5, 2011 2:47:38pm

re: #17 Kragar (Proud to be Kafir)

California is already Islamized. Its got Caliph right in the name.
/

Hilariously enough, you may be right, if California was actually derived from the name of the island in The Adventures of Esplandian:

The name of Calafia was likely formed from the Arabic word khalifa (religious state leader) which is known as caliph in English and califa in Spanish. Similarly, the name of Calafia's monarchy, California, likely originated from the same root, fabricated by the author to remind the 16th century Spanish reader of the reconquista, a centuries-long fight between Christians and Moslems which had recently concluded in Spain. The character of Calafia is used by de Montalvo to portray the superiority of chivalry in which the attractive virgin queen is conquered, converted to Christian beliefs and married off. The book was very popular for many decades—Hernán Cortés read it—and it was selected by author Miguel de Cervantes as the first of many harmful books to be burnt by characters in his famous novel Don Quixote.[2]

31 albusteve  Fri, Aug 5, 2011 2:48:03pm

re: #28 simoom

If this does happen we're going to be hearing a whole lot of, "Barack Obama is the first U.S. President in history to preside over a credit rating downgrade." FNC and GOP guests on the rest of the media had already been pushing that line as they discussed a potential future downgrade, so you can nearly guarantee that will be a constantly hammered talking point.

of course...but you'd have to assume the dems have a plan to counter...probably not tho

32 Our Precious Bodily Fluids  Fri, Aug 5, 2011 2:48:09pm

re: #21 laZardo

I think it would be safe to assume that it'll ensure their re-election next year rather than compromise it.

How in the world do you figure any incumbent up for reelection in 2012 is going to be safe? What am I missing? Congressional approval rating: 14 percent

33 laZardo  Fri, Aug 5, 2011 2:49:40pm

re: #32 negativ

Mind, that rating goes for both Democrats and Republicans in Congress. Following Simoom's #28 and the GOP's consistency, it's safe to say they still have plenty of ammo left.

34 ProGunLiberal  Fri, Aug 5, 2011 2:50:46pm

re: #29 HoosierHoops

Yeah, that's what reports are saying.

Close to weather center, and 3 friends may have housing trouble.

35 engineer cat  Fri, Aug 5, 2011 2:51:21pm

re: #11 Killgore Trout

So it looks like Obama chose to risk the downgrade instead of trying to push the Republicans into revenue hikes which would have possibly ended in default. Ugh.

a lot of people would have liked him to tell the tea party to take a hike and use the 14th

but i don't see how this could have been done short of a no bill at all being passed by the deadline

i think if obama had been a better negotiator her could have managed to fail to get the gop to agree to a compromise bill

36 Kragar  Fri, Aug 5, 2011 2:51:26pm

re: #30 SanFranciscoZionist

Hilariously enough, you may be right, if California was actually derived from the name of the island in The Adventures of Esplandian:

The name of Calafia was likely formed from the Arabic word khalifa (religious state leader) which is known as caliph in English and califa in Spanish. Similarly, the name of Calafia's monarchy, California, likely originated from the same root, fabricated by the author to remind the 16th century Spanish reader of the reconquista, a centuries-long fight between Christians and Moslems which had recently concluded in Spain. The character of Calafia is used by de Montalvo to portray the superiority of chivalry in which the attractive virgin queen is conquered, converted to Christian beliefs and married off. The book was very popular for many decades—Hernán Cortés read it—and it was selected by author Miguel de Cervantes as the first of many harmful books to be burnt by characters in his famous novel Don Quixote.[2]

THEY'VE BEEN PLOTTING FOR CENTURIES!

37 Brother Holy Cruise Missile of Mild Acceptance  Fri, Aug 5, 2011 2:51:31pm

re: #32 negativ

well any incumbent teahadist would probably win, after all they are succeeding in doing what they were elected to do, destroy the government.

38 Digital Display  Fri, Aug 5, 2011 2:52:43pm

re: #34 ProLifeLiberal

Yeah, that's what reports are saying.

Close to weather center, and 3 friends may have housing trouble.

Have them call the Red Cross.. They always seem to help with housing after a fire...
Sorry about your friends

39 albusteve  Fri, Aug 5, 2011 2:52:58pm

re: #33 laZardo

Mind, that rating goes for both Democrats and Republicans in Congress. Following Simoom's #28 and the GOP's consistency, it's safe to say they still have plenty of ammo left.

as the murky fog of blame and counter blame settles across the country, the GOP will cover it's ass with the media leading the way....they are not finished by a long shot, altho 2012 could certainly hurt them, but that's ages away

40 makeitstop  Fri, Aug 5, 2011 2:53:26pm

re: #39 albusteve

as the murky fog of blame and counter blame settles across the country, the GOP will cover it's ass with the media leading the way...they are not finished by a long shot, altho 2012 could certainly hurt them, but that's ages away

Sad but true.

41 Brother Holy Cruise Missile of Mild Acceptance  Fri, Aug 5, 2011 2:53:50pm

re: #35 engineer dog

I have a feeling if he had used the 14th, regardless of whether it was legit (I am sure it was) or not, the teatards would have screamed tyranny and an effort would have been made to impeach him. The end result? More bullshit and grand standing by teahadists and while the crisis of default may have been solved we'd be even worse off.

42 Killgore Trout  Fri, Aug 5, 2011 2:55:00pm

re: #28 simoom

If this does happen we're going to be hearing a whole lot of, "Barack Obama is the first U.S. President in history to preside over a credit rating downgrade." FNC and GOP guests on the rest of the media had already been pushing that line as they discussed a potential future downgrade, so you can nearly guarantee that will be a constantly hammered talking point.

Probaly but voters aren't going to buy it. The GOP is taking a big hit in the polls over the debt debate and a very clear majority were blaming then for the possibility of a default. The same will probably be true for a downgrade.

43 engineer cat  Fri, Aug 5, 2011 2:55:23pm

re: #30 SanFranciscoZionist

i long ago left the service of the duke of york and pledged my fealty to the glorious queen califia and her mighty amazons

44 ProGunLiberal  Fri, Aug 5, 2011 2:55:35pm

re: #38 HoosierHoops

Hell, I wouldn't mind housing them. Might get frowny face from some coreligionists (I think I have discussed this before), but I want to care for friends.

45 Gus  Fri, Aug 5, 2011 2:57:11pm

Afghanistan took down the Soviet Union. History repeats itself.

46 Killgore Trout  Fri, Aug 5, 2011 2:57:36pm

re: #35 engineer dog

a lot of people would have liked him to tell the tea party to take a hike and use the 14th

but i don't see how this could have been done short of a no bill at all being passed by the deadline

i think if obama had been a better negotiator her could have managed to fail to get the gop to agree to a compromise bill

I don't think so. The GOP was not listening to reason and were willing to crash the global economy if they couldn't keep the tax breaks for the rich. I don;t think Obama can be held responsible for their irresponsibility.

47 albusteve  Fri, Aug 5, 2011 2:58:51pm

re: #42 Killgore Trout

Probaly but voters aren't going to buy it. The GOP is taking a big hit in the polls over the debt debate and a very clear majority were blaming then for the possibility of a default. The same will probably be true for a downgrade.

for sure the voters are the key to the entire mess....but if they get off their asses to do anything about is yet to be determined....disgust with their reps might drive them away from the poles, who knows....it's highly unpredictable at this point

48 engineer cat  Fri, Aug 5, 2011 2:59:59pm

re: #41 Dreggas

I have a feeling if he had used the 14th, regardless of whether it was legit (I am sure it was) or not, the teatards would have screamed tyranny and an effort would have been made to impeach him. The end result? More bullshit and grand standing by teahadists and while the crisis of default may have been solved we'd be even worse off.

hostage takers specialize in creating choices which are bad either way

mcconnell was on teevee the other day gleefully announcing his pleasure with the success of the hostage tactic, and vowing that every president in the foreseeable future would be presented with exactly the same manufactured crisis

if this clip is not echoed across the airwaves a million times before the next election so that the american people can see what the republican party has promised them, i will want to know why the hell it wasn't

so, in my estimation this outcome is far worse than wingnuts screaming bloody murder about tyranny. they do it anyway

49 Brother Holy Cruise Missile of Mild Acceptance  Fri, Aug 5, 2011 3:00:35pm

re: #45 Gus 802

but it's not afghanistan that is doing it in this case. It's self inflicted wounds thanks to voters not caring (see '10 elections) and those that do care electing neanderthals (see '10 elections). If there were a sane opposition things may not have deteriorated, but there is no sanity in the GOP.

50 simoom  Fri, Aug 5, 2011 3:01:37pm

Just drove by my town's post office & out front was a group of people all wearing straw cowboy hats with Obama Hitler-mustache posters & something about the 25th Amendment. I didn't have time to stop and see what group they're with or look too closely at their signs, but referencing the 25th Amendment is quite ominous.

51 Killgore Trout  Fri, Aug 5, 2011 3:02:36pm

re: #50 simoom

Just drove by my town's post office & out front was a group of people all wearing straw cowboy hats with Obama Hitler-mustache posters & something about the 25th Amendment. I didn't have time to stop and see what group they're with or look too closely at their signs, but referencing the 25th Amendment is quite ominous.

Lyndon Larouche's folks for sure.

52 Gus  Fri, Aug 5, 2011 3:02:56pm

re: #49 Dreggas

but it's not afghanistan that is doing it in this case. It's self inflicted wounds thanks to voters not caring (see '10 elections) and those that do care electing neanderthals (see '10 elections). If there were a sane opposition things may not have deteriorated, but there is no sanity in the GOP.

It was two unfunded wars brought to us by the Bush administration. It was an overreaction to 9/11. It wasn't the only cause but it played a large part. America got in over its head playing toy soldier and living out its Superman fantasies. Bush cut taxes at a time when they should have been maintained in order to fund the wars and the expansion of fortress America through the creation of the TSA, Homeland Security and many aspects of the Patriot Act.

53 ProGunLiberal  Fri, Aug 5, 2011 3:03:14pm

re: #44 ProLifeLiberal

It's a 7-alarm fire right now.

54 laZardo  Fri, Aug 5, 2011 3:05:25pm

re: #52 Gus 802

It was two unfunded wars brought to us by the Bush administration. It was an overreaction to 9/11. It wasn't the only cause but it played a large part. America got in over its head playing toy soldier and living out its Superman fantasies. Bush cut taxes at a time when they should have been maintained in order to fund the wars and the expansion of fortress America through the creation of the TSA, Homeland Security and many aspects of the Patriot Act.

And now they're tossing Libya into the mix.

55 Our Precious Bodily Fluids  Fri, Aug 5, 2011 3:05:45pm

re: #50 simoom

Just drove by my town's post office & out front was a group of people all wearing straw cowboy hats with Obama Hitler-mustache posters & something about the 25th Amendment. I didn't have time to stop and see what group they're with or look too closely at their signs, but referencing the 25th Amendment is quite ominous.

Step 1) recruit a cohort or minion
Step 2) return to the gathering with cameras
Step 3) pretend to be ignorant tourist
Step 3a) loudly say to your friend, "OH LOOK IT'S ONE OF THOSE GAY MARRIAGE CELEBRATIONS, THE 25TH AMENDMENT ALLOWS GAY MARRIAGE, RIGHT?
Step 4) take photos, gushingly congratulate the proud newlyweds.
Step 5) Escape. If cornered, threaten to put a "Muslin Curse" on them. This will buy you valuable time.
Step 6) lol

56 makeitstop  Fri, Aug 5, 2011 3:06:15pm

re: #53 ProLifeLiberal

It's a 7-alarm fire right now.

Damn. You don't see a whole lot of those. Hope everyone is all right.

57 blueraven  Fri, Aug 5, 2011 3:06:41pm

re: #50 simoom

Just drove by my town's post office & out front was a group of people all wearing straw cowboy hats with Obama Hitler-mustache posters & something about the 25th Amendment. I didn't have time to stop and see what group they're with or look too closely at their signs, but referencing the 25th Amendment is quite ominous.

Sounds like the crazy LaRouchies

58 albusteve  Fri, Aug 5, 2011 3:06:43pm

meanwhile Assad continues to slaughter his own citizens at an impressive clip

59 Digital Display  Fri, Aug 5, 2011 3:07:37pm

re: #53 ProLifeLiberal

It's a 7-alarm fire right now.

holy crap..It's on channel 5.. Big fire! going from building to building

60 makeitstop  Fri, Aug 5, 2011 3:07:38pm

re: #50 simoom

Just drove by my town's post office & out front was a group of people all wearing straw cowboy hats with Obama Hitler-mustache posters & something about the 25th Amendment. I didn't have time to stop and see what group they're with or look too closely at their signs, but referencing the 25th Amendment is quite ominous.

Why do they do that stuff in front of post offices? My local wingnuts take up space in front of my post office, too.

61 Slumbering Behemoth Stinks  Fri, Aug 5, 2011 3:08:15pm

The mystery to me is that anyone watches Fox News and considers it a serious news outlet.

Sean Hannity: "I have told every one of my friends and my wife I want nothing on my birthday".

As if this makes some kind of point about Obama being irresponsible for having a party on his 50th birthday.

Sean, if you were even the least bit a grown-up, you would understand that your birthday isn't about you. It's about the people in your life that love and appreciate you, and taking that one day a year to show you how much you mean to them, and vice versa. It is more for your friends and your family than it is for you.

It's why I get a cake for my birthday every year, despite the fact that everyone knows I don't like cake. It's not for me, it's for them. And if you were a grown-up, Sean, you would know that.

62 Gus  Fri, Aug 5, 2011 3:09:14pm

re: #58 albusteve

meanwhile Assad continues to slaughter his own citizens at an impressive clip

Which proves that ours and NATOs action in Libya are purely economic. Not only does Syria make that point clear but more so with what we did/do in Bahrain.

63 laZardo  Fri, Aug 5, 2011 3:09:35pm

re: #61 Slumbering Behemoth

I tend to say my birthday is on June 22nd, because I don't like to be reminded of how old I am vis-a-vis where I am in life.

64 CuriousLurker  Fri, Aug 5, 2011 3:10:37pm

re: #9 Sergey Romanov

Part of a Fjordy comment from that old thread Charles pointed out:

...If you pronounce “A Sweden for all” in Swedish, it sounds pretty much like “A Sweden for Allah.” Purely coincidental, of course.

Heheheh.

*eyeroll, headdesk, goes to look for her tinfoil scimitar to effectively engage in battle with the tinfoil helmeted Crusaders...*

65 Gus  Fri, Aug 5, 2011 3:11:19pm

Americans don't even care. Or are clueless once again. Here's what's trending on Twitter:

#WhenIWas13
#ChicksWithGoldTeeth
#ThanksBreezy
LADIES LOVE ME
Happy International Beer Day
Desperate Housewives
MICHAEL EALY
Shawty Mane
Anne Hathaway
Nicki Minaj's

66 simoom  Fri, Aug 5, 2011 3:11:58pm

Everyone who mentioned LaRouchies, looks like you were all correct. I found an article on them in the local paper, and their Hitler signs actually say, "Invoke the 25th Amendment." I guess they're also handing out Truther flyers about President Obama being involved in a 9/11 coverup or something.

67 Gus  Fri, Aug 5, 2011 3:12:09pm

A military coup could take over the White House and install a fascist dictator and American's wouldn't even notice as long as you left primetime TV alone and on schedule.

68 laZardo  Fri, Aug 5, 2011 3:12:47pm

re: #65 Gus 802

Americans don't even care. Or are clueless once again. Here's what's trending on Twitter:

Happy International Beer Day

OH MY GOD I TOTALLY FORGOT

69 blueraven  Fri, Aug 5, 2011 3:13:14pm

re: #65 Gus 802

Americans don't even care. Or are clueless once again. Here's what's trending on Twitter:

#WhenIWas13
#ChicksWithGoldTeeth
#ThanksBreezy
LADIES LOVE ME
Happy International Beer Day
Desperate Housewives
MICHAEL EALY
Shawty Mane
Anne Hathaway
Nicki Minaj's

At least some people have their priorities in order!

70 laZardo  Fri, Aug 5, 2011 3:13:26pm

re: #64 CuriousLurker

Heheheh.

*eyeroll, headdesk, goes to look for her tinfoil scimitar to effectively engage in battle with the tinfoil helmeted Crusaders...*

Pffft. Scimitars are sooo 1291.

71 ProGunLiberal  Fri, Aug 5, 2011 3:14:38pm

re: #59 HoosierHoops

I'll take in friends if I can. Damn the response from any overly-conservative nut.

I want to.

72 Slumbering Behemoth Stinks  Fri, Aug 5, 2011 3:14:52pm

re: #63 laZardo

Left to my own devices, I wouldn't even bother celebrating my birthday. It's just not important to me. But it is important to the people in my life, so we celebrate. And they get to eat cake. :)

73 Charleston Chew  Fri, Aug 5, 2011 3:18:58pm

re: #10 Alexzander


But I think the routes of our financial predicament go all the way back to some of the troubling or irresponsible assumptions of neoliberal economics Reaganomics.

Just my 2 cents.

74 Slumbering Behemoth Stinks  Fri, Aug 5, 2011 3:23:09pm

Them: "Hey Behemoth, your birthday is coming up. What kind of cake do you want"?

Me: "Tri-Tip".

75 Charleston Chew  Fri, Aug 5, 2011 3:24:39pm

re: #46 Killgore Trout

I don;t think Obama can be held responsible for their irresponsibility.

And yet he will be anyway.

76 Shropshire_Slasher  Fri, Aug 5, 2011 3:27:28pm

Almost done with Brandon Sanderson's "The Way of Kings" good book, but will need another, any recommendations before I head out on my scooter?!
Nothing political I like my escape into a good read.

77 laZardo  Fri, Aug 5, 2011 3:28:28pm

re: #76 Shropshire_Slasher

Almost done with Brandon Sanderson's "The Way of Kings" good book, but will need another, any recommendations before I head out on my scooter?!
Nothing political I like my escape into a good read.

You have a scooter?! *snicker*

/

78 Shropshire_Slasher  Fri, Aug 5, 2011 3:31:08pm

re: #68 laZardo

The carpenters and ironworkers on my job celebrated early, they were really sweating out this morning. I sure as hell don't miss that feeling.

79 blueraven  Fri, Aug 5, 2011 3:32:25pm

re: #75 Charleston Chew

And yet he will be anyway.

Well so far according to polls, they are blaming congress, more specifically the republicans. Also the polls show the public still assigns much more blame to Bush for our economic mess.
They also want to see tax revenue increased.
I think the next election is all about turn out. The center and the left need to get it together and GOTV!

80 Kragar  Fri, Aug 5, 2011 3:34:20pm

re: #76 Shropshire_Slasher

Almost done with Brandon Sanderson's "The Way of Kings" good book, but will need another, any recommendations before I head out on my scooter?!
Nothing political I like my escape into a good read.

Read his Mistborn trilogy?

81 William Barnett-Lewis  Fri, Aug 5, 2011 3:37:50pm

re: #76 Shropshire_Slasher

Almost done with Brandon Sanderson's "The Way of Kings" good book, but will need another, any recommendations before I head out on my scooter?!
Nothing political I like my escape into a good read.

The Summer Tree by Guy Gavriel Kay, if you haven't before. Lord Of Light by Roger Zelazny is another good pne.

82 Shropshire_Slasher  Fri, Aug 5, 2011 3:38:12pm

re: #80 Kragar (Proud to be Kafir)

Yes, loved it, I've read all of Brandon's novels except Alcatraz.

83 Charleston Chew  Fri, Aug 5, 2011 3:39:55pm

re: #79 blueraven

Well so far according to polls, they are blaming congress, more specifically the republicans. Also the polls show the public still assigns much more blame to Bush for our economic mess.
They also want to see tax revenue increased.
I think the next election is all about turn out. The center and the left need to get it together and GOTV!

It's probably advantageous to a President to have their own party take a hit in the midterms, though no President would ever admit it. Helps put a little fear into their base so they come out for the re-election.

I wonder if Presidents deliberately push harder on the divisive issues in the first 2 years knowing that their Congressional allies will take a hit. If the political mood of the country is pendulum constantly swinging towards you and away from you, you want to do what you can to time it so it's coming back your way at re-election time.

84 Shropshire_Slasher  Fri, Aug 5, 2011 3:40:43pm

re: #81 wlewisiii

Thankyou very much. I have a hard time picking stuff, I always get suckered in by the cover art. Its like a big investment or somethin!

85 Gus  Fri, Aug 5, 2011 3:41:15pm

The S&P downgrade seems to be a rumor thus far. No comment yet from S&P or the Feds. ABC lead tonight's news with report.

86 Shropshire_Slasher  Fri, Aug 5, 2011 3:43:05pm

Off to ride the scooter thanks for the help.
[Link: en.wikipedia.org...]
Mine is a 1500 with straight pipes and little chrome. Chrome won't get you home but it might get you laid!

87 laZardo  Fri, Aug 5, 2011 3:45:54pm

re: #86 Shropshire_Slasher

...okay im sorry i dissed ur scooter ;_;

88 Charleston Chew  Fri, Aug 5, 2011 3:46:04pm

re: #86 Shropshire_Slasher

Chrome won't get you home but it might get you laid!

That's why I'm using it to view this very webpage.

89 Kragar  Fri, Aug 5, 2011 3:46:13pm

re: #82 Shropshire_Slasher

Yes, loved it, I've read all of Brandon's novels except Alcatraz.

Well, allow me to plug the Horus Heresy series again.

90 Gus  Fri, Aug 5, 2011 3:46:42pm

BREAKING - govt official says S&P made "serious mistake" in its analysis, "based on flawed math + assumptions" [Link: abcn.ws...]

[Link: twitter.com...]

91 Gus  Fri, Aug 5, 2011 3:47:33pm

re: #90 Gus 802

BREAKING - govt official says S&P made "serious mistake" in its analysis, "based on flawed math + assumptions" [Link: abcn.ws...]

[Link: twitter.com...]

Quote...

Two government officials tell ABC News that the federal government is expecting and preparing for bond rating agency Standard & Poor’s to downgrade the rating of US debt from its current AAA value.

Official reasons given, one official says, will be the political confusion surrounding the process of raising the debt ceiling, and lack of confidence that the political system will be able to agree to more deficit reduction. A source says Republicans saying that they refuse to accept any tax increases as part of a larger deal will be part of the reason cited. The official was unsure if the bond rating would be AA+ or AA.

A third official says that S&P made a "serious mistake" in its analysis, "based on flawed math and assumptions," so the Obama administration is pushing back. But even though "S&P has acknowledged its numbers are wrong, it's unclear what they're going to do.," the official said.

S&P refused to comment.

92 Charleston Chew  Fri, Aug 5, 2011 3:49:03pm

re: #90 Gus 802

BREAKING - govt official says S&P made "serious mistake" in its analysis, "based on flawed math + assumptions" [Link: abcn.ws...]

[Link: twitter.com...]

I imagine the S&P suits are definitely feeling some pressure right now.

93 Wozza Matter?  Fri, Aug 5, 2011 3:49:45pm

re: #90 Gus 802

BREAKING - govt official says S&P made "serious mistake" in its analysis, "based on flawed math + assumptions" [Link: abcn.ws...]

[Link: twitter.com...]

They should walk it back. If they are the only agency to downgrade and it's proven their maths are Ryanesque, it will not be well for them - other than becoming the teabaggers fiance house of choice.

94 Gus  Fri, Aug 5, 2011 3:55:25pm

LisaDCNN Lisa Desjardins
by TPM
BREAKING: CNN's John King reports S+P notified the U.S. it was downgrading the gov's credit rating, BUT reconsidered after WH challenged.

95 Wozza Matter?  Fri, Aug 5, 2011 3:56:33pm

Will leave y'all couple of updates from planet wozz before i scoot, (on a couple of things i mentioned the other week) -

mom's been in hospital getting on for two weeks and had a major surgery in that time, she is on the mend (touch wood). Hoping to have her home in a couple of days.

I was at the hospital today myself, lengthy abdominal procedure but seems i'm ok too, some biopsies and polyps removed just to be sure.

96 Wozza Matter?  Fri, Aug 5, 2011 3:57:00pm

re: #95 wozzablog

btw - total costs expected for all of the above = £0

97 Gus  Fri, Aug 5, 2011 3:57:09pm

Looks like NO S&P downgrading.

98 albusteve  Fri, Aug 5, 2011 3:57:22pm

re: #94 Gus 802

LisaDCNN Lisa Desjardins
by TPM
BREAKING: CNN's John King reports S+P notified the U.S. it was downgrading the gov's credit rating, BUT reconsidered after WH challenged.

'challenged'....?
Vito go have a talk with them?

99 simoom  Fri, Aug 5, 2011 3:57:58pm

From Forbes.com earlier today:
[Link: blogs.forbes.com...]

“Moody’s has already ruled they won’t downgrade the U.S. and S&P is not going to leave themselves hanging out there alone,” says Richard Lehmann, publisher of the Forbes/Lehmann Income Securities Investor newsletter. “It’s too competitive a marketplace.”

...

“Nerves are frayed,” says John Brady, senior vice president of interest rate products at MF Global, and the S&P rumor “totally took the wind out of [the market’s] sails.” An early pop on the jobs report completed evaporated in the first 30 minutes of trading and approaching noon the Dow, S&P 500 and Nasdaq were down well over 1% apiece.

Brady expects S&P to be “politically sensitive” and not strip away America’s AAA rating at the close of such a tumultuous week.

For all the “will they or won’t they” talk regarding rating action on the U.S. – Moody’s affirmed the U.S. AAA after the debt ceiling deal passed this week and Fitch has signaled it will do the same – there is also a camp that thinks even discussing a downgrade of the U.S. is ridiculous.

I guess we'll just have to wait in see how far S&P takes this.

101 albusteve  Fri, Aug 5, 2011 3:59:07pm

no more downgrade hoolpla?....
well on to the next disaster, times wasting boyz

102 Killgore Trout  Fri, Aug 5, 2011 3:59:45pm

re: #90 Gus 802

BREAKING - govt official says S&P made "serious mistake" in its analysis, "based on flawed math + assumptions" [Link: abcn.ws...]

[Link: twitter.com...]



A third official says that S&P made a "serious mistake" in its analysis, "based on flawed math and assumptions," so the Obama administration is pushing back. But even though "S&P has acknowledged its numbers are wrong, it's unclear what they're going to do.," the official said.


Hmmm... I wonder what the "mistake" might be.

103 Wozza Matter?  Fri, Aug 5, 2011 3:59:46pm

re: #98 albusteve

'challenged'...?
Vito go have a talk with them?

With a calculator and his facts straight. Gotta' love Vito. Or else.

104 goddamnedfrank  Fri, Aug 5, 2011 3:59:48pm

re: #93 wozzablog

They should walk it back. If they are the only agency to downgrade and it's proven their maths are Ryanesque, it will not be well for them - other than becoming the teabaggers fiance house of choice.

Not if the rumors are true and S&P cites the Republicans intransigent stance against raising taxes as a key reason.

105 recusancy  Fri, Aug 5, 2011 3:59:49pm
106 Wozza Matter?  Fri, Aug 5, 2011 4:00:27pm

re: #102 Killgore Trout

Hmmm... I wonder what the "mistake" might be.

Factoring in Bachmann/InaJar '12................

107 Gus  Fri, Aug 5, 2011 4:01:08pm

re: #102 Killgore Trout

Hmmm... I wonder what the "mistake" might be.

I don't know. But no downgrade. For now. I don't know what's going on.

108 Killgore Trout  Fri, Aug 5, 2011 4:01:24pm

LisaDCNN Lisa Desjardins
S+P DOWNGRADE FREEZE: Source in Obama admin. says S+P's analysis was off by "trillions". Talks ongoing b/t WH and S+P now.

109 Wozza Matter?  Fri, Aug 5, 2011 4:01:40pm

re: #104 goddamnedfrank

Not if the rumors are true and S&P cites the Republicans intransigent stance against raising taxes as a key reason.

Since when has that mattered?.
S&P will have thumbed their nose at the gub'mint. Your relying on the teabagger hoardes to read below the fold.

110 prairiefire  Fri, Aug 5, 2011 4:02:00pm

re: #107 Gus 802

I don't know. But no downgrade. For now. I don't know what's going on.

The jobs report was modest but positive. Which is always what I strive to be.

111 Gus  Fri, Aug 5, 2011 4:02:12pm

Looks like wingnuts are angry that the WH challenged S&P.

112 albusteve  Fri, Aug 5, 2011 4:03:14pm

re: #102 Killgore Trout

Hmmm... I wonder what the "mistake" might be.

proof the lowly decimal point deserves more respect....those little dots can bring down entire countries

113 McSpiff  Fri, Aug 5, 2011 4:03:55pm

re: #111 Gus 802

Looks like wingnuts are angry that the WH challenged S&P.

Can't say I disagree. I thought the rating agencies were independent. If the US gov't can set their own credit rating, its meaningless.

114 albusteve  Fri, Aug 5, 2011 4:05:13pm

re: #111 Gus 802

Looks like wingnuts are angry that the WH challenged S&P.

"you're supposed to be DEAD!"

115 Wozza Matter?  Fri, Aug 5, 2011 4:06:04pm

re: #113 McSpiff

Can't say I disagree. I thought the rating agencies were independent. If the US gov't can set their own credit rating, its meaningless.

If any organisiation believes that a ratings agency is acting on bad information the people due to be downgraded can make representations, whats wrong with that?.

116 recusancy  Fri, Aug 5, 2011 4:06:44pm

re: #113 McSpiff

Can't say I disagree. I thought the rating agencies were independent. If the US gov't can set their own credit rating, its meaningless.

You don't think corporations influence the outcome of their own ratings all the time? Plus if S&P made a math error that's kind of a big deal.

117 simoom  Fri, Aug 5, 2011 4:07:14pm

[Link: twitter.com...]

LisaDCNN Lisa Desjardins
S+P SUMMARY: S+P was set to downgrade. Obama admin. said their analysis off by "trillions". Now S+P revising figures. Downgrade still poss.
118 albusteve  Fri, Aug 5, 2011 4:07:14pm

fucking chumps can't even get a simple downgrade right...oh well, I've been wiped out twice in three years so I'm used to it

119 Gus  Fri, Aug 5, 2011 4:08:12pm

re: #118 albusteve

fucking chumps can't even get a simple downgrade right...oh well, I've been wiped out twice in three years so I'm used to it

I've got nothing to get wiped out. ;)

120 McSpiff  Fri, Aug 5, 2011 4:08:31pm

re: #115 wozzablog

re: #116 recusancy

I don't believe there was any mistake made by S&P. This would be the single most important rating ever issued by S&P. The first ever downgrading of sovereign US credit. You don't make a mistake over that.

I don't think the WH presented any information beyond "you better not push us over the edge".

121 Wozza Matter?  Fri, Aug 5, 2011 4:08:39pm

re: #118 albusteve

fucking chumps can't even get a simple downgrade right...oh well, I've been wiped out twice in three years so I'm used to it

They can't grade for shit.
The system hasn't worked properly for years.

122 albusteve  Fri, Aug 5, 2011 4:09:01pm

re: #119 Gus 802

I've got nothing to get wiped out. ;)


that's okay...you have your heart and your integrity....that's worth a fortune bro

123 sattv4u2  Fri, Aug 5, 2011 4:10:37pm

re: #122 albusteve

that's okay...you have your heart and your integrity...that's worth a fortune bro


I put mine up for bid on E-Bay

124 Wozza Matter?  Fri, Aug 5, 2011 4:10:47pm

re: #120 McSpiff

re: #116 recusancy

I don't believe there was any mistake made by S&P. This would be the single most important rating ever issued by S&P. The first ever downgrading of sovereign US credit. You don't make a mistake over that.

I don't think the WH presented any information beyond "you better not push us over the edge".

We'll have to wait and see, but all the ratings agencies conspired to bring down the whole world economy - they can't be trusted to get anything right imho. History is against them.

125 McSpiff  Fri, Aug 5, 2011 4:12:16pm

re: #124 wozzablog

We'll have to wait and see, but all the ratings agencies conspired to bring down the whole world economy - they can't be trusted to get anything right imho. History is against them.

"All the ratings agencies conspired to bring down the whole economy..."

Source please? I know they did an absolutely piss job rating the unregulated securities like CDSs and CDOs, but I've never heard anyone claim a grand conspiracy before.

126 albusteve  Fri, Aug 5, 2011 4:12:28pm

re: #123 sattv4u2

I put mine up for bid on E-Bay

you'll lose on the postage

127 Gus  Fri, Aug 5, 2011 4:12:51pm

re: #113 McSpiff

Can't say I disagree. I thought the rating agencies were independent. If the US gov't can set their own credit rating, its meaningless.

Well, I doubt it was a matter of S&P going in to the WH and being dictated as to how they should set the credit rating. If S&P admits to a mistake they obviously, well, caught a mistake which was clarified during a meeting with the WH? I don't know if this has been done before. Didn't the S&P once consider CDs AAA?

128 Charleston Chew  Fri, Aug 5, 2011 4:15:41pm

re: #113 McSpiff

Can't say I disagree. I thought the rating agencies were independent. If the US gov't can set their own credit rating, its meaningless.

Almost as worthless as AAA rated tranches of mortgage-backed securities.

129 albusteve  Fri, Aug 5, 2011 4:15:48pm

crunches time...
my beer gut is getting hammered

130 simoom  Fri, Aug 5, 2011 4:16:57pm

This is sort of weird, coming from McArdle:
[Link: www.theatlantic.com...]

Well, frankly, I don't blame Standard and Poor's. And not because we didn't make deeper cuts--we have lower debt loads and more favorable demographics than countries like France and the UK which still have their AAA. S&P is apparently telling us exactly what this is about: the frightening breakdown in our political system. Unless those reports turn out to be wrong, everything else is excuse-making.

...

But though I will take a lot of hell for saying this, I'm afraid I think that the lion's share of the blame goes to the GOP, which escalated to this completely unnecessary showdown, and then gave up any hope of a grand bargain because it would have required some revenue increases.

...

In that political environment, hell, I'd downgrade us.

I'm sorry, but this was stupid. It hurt the country, and it hurt the party that staged the protest vote even more. All for very little gain. Like Tyler Cowen, I think that the GOP is going to live to regret this moment. But the regret may not come quickly. Every party makes the occasional mistake, but I am very much afraid that the GOP is now going to double down.

But even if you think that I'm all wrong and this is a monstrously unfair smear on fine Americans who were just standing up against the forces of darkness and overspending, the fact remains that the GOP is going to pay the price for this, along with the country that I am sure they love. Americans are not going to be happy about this downgrade. They will blame the GOP. And the GOP is not going to find it easy to defend themselves.

Hopefully the damage will be limited to reputational capital, rather than the kind currently propping up all of our 401(k)s. We still have two ratings agencies behind us. Let's try to keep it that way.

I'm sure she'll find a way to walk this back soon, but it still was surprising to see.

131 WINDUPBIRD DISEASE [S.K.U.M.M.]  Fri, Aug 5, 2011 4:16:58pm

re: #111 Gus 802

Looks like wingnuts are angry that the WH challenged S&P.

well, sure! BECAUSE WE MUST STOP THE SUPREAM DIKTATOR OBAMA MUSLIMOISLAMOCRACY TAQUIYA DHIMMI ohgodlizardpeoplebilderberggroup

132 sattv4u2  Fri, Aug 5, 2011 4:17:37pm

re: #125 McSpiff

"All the ratings agencies conspired to bring down the whole economy..."

Source please? I know they did an absolutely piss job rating the unregulated securities like CDSs and CDOs, but I've never heard anyone claim a grand conspiracy before.

It was all very hush hush in a secret location, but I do have a smuggled photo of the meeting

Image: MTR-Round-Table.jpg

133 Charleston Chew  Fri, Aug 5, 2011 4:18:32pm

re: #125 McSpiff

"All the ratings agencies conspired to bring down the whole economy..."

Source please? I know they did an absolutely piss job rating the unregulated securities like CDSs and CDOs, but I've never heard anyone claim a grand conspiracy before.

I don't think there was a conspiracy. They all sucked independently of one another. And yet somehow that's not very reassuring.

134 Wozza Matter?  Fri, Aug 5, 2011 4:18:59pm

re: #125 McSpiff

"All the ratings agencies conspired to bring down the whole economy..."

Source please? I know they did an absolutely piss job rating the unregulated securities like CDSs and CDOs, but I've never heard anyone claim a grand conspiracy before.

Oh, puh-lease.

135 sattv4u2  Fri, Aug 5, 2011 4:19:40pm

re: #125 McSpiff

re: #134 wozzablog

Oh, puh-lease.

Well then, there ya go

Case closed!

136 Wozza Matter?  Fri, Aug 5, 2011 4:19:52pm

re: #133 Charleston Chew

I don't think there was a conspiracy. They all sucked independently of one another. And yet somehow that's not very reassuring.

They were in cahoots.

It wasn't a conspiracy to down the economy - but instead to keep the bubble inflated, which works out to the same thing.

137 recusancy  Fri, Aug 5, 2011 4:20:44pm

re: #134 wozzablog

Oh, puh-lease.

There was no conspiracy. It was just bad practices.

138 Gus  Fri, Aug 5, 2011 4:21:33pm

S&P isn't exactly reassuring consider that they just admitted (subject to verification) being off by trillions. Something might be way off here though and the full story remains to be clear. Right now it looks more like Twitter rumors and partial reports from "unnamed sources."

139 Killgore Trout  Fri, Aug 5, 2011 4:21:35pm

re: #130 simoom

This is sort of weird, coming from McArdle:
[Link: www.theatlantic.com...]

I'm sure she'll find a way to walk this back soon, but it still was surprising to see.

I can just imagine Obama pleading with the S&P guys. "No, The Republicans aren't really crazy. They mean well, they just talk a lot of shit. Really they're harmless."
Like trying to talk a cop out of arresting a drunk friend.

140 Charleston Chew  Fri, Aug 5, 2011 4:22:54pm

re: #136 wozzablog

They were in cahoots.

It wasn't a conspiracy to down the economy - but instead to keep the bubble inflated, which works out to the same thing.

I assumed it was because they were getting fat cash from the same people they were supposed to be evaluating. Basic conflict of interest.

141 Gus  Fri, Aug 5, 2011 4:23:11pm

24 hour rule.

142 Killgore Trout  Fri, Aug 5, 2011 4:23:29pm

re: #138 Gus 802

S&P isn't exactly reassuring consider that they just admitted (subject to verification) being off by trillions. Something might be way off here though and the full story remains to be clear. Right now it looks more like Twitter rumors and partial reports from "unnamed sources."

I think they're concerned about a couple factors. Even though their math may be off the dysfunctional congress and the GOP unwillingness to raise revenues might be more of an issue.

143 Wozza Matter?  Fri, Aug 5, 2011 4:23:46pm

re: #137 recusancy

There was no conspiracy. It was just bad practices.

Bad practices that were identical across the ratings agencies - each with a vested interest in keeping the bubble alive.

144 recusancy  Fri, Aug 5, 2011 4:23:51pm

When you say "in cahoots" or "conspiracy" people will disregard you, as they probably should.

145 Interesting Times  Fri, Aug 5, 2011 4:24:02pm

re: #136 wozzablog

It wasn't a conspiracy to down the economy - but instead to keep the bubble inflated, which works out to the same thing.

"Any sufficiently advanced incompetence is indistinguishable from malice".

--addendum to Hanlon's Razor

146 Charleston Chew  Fri, Aug 5, 2011 4:24:30pm

re: #139 Killgore Trout

I can just imagine Obama pleading with the S&P guys. "No, The Republicans aren't really crazy. They mean well, they just talk a lot of shit. Really they're harmless."
Like trying to talk a cop out of arresting a drunk friend.

He'll have to promise to take away their keys and drive the Republicans straight home.

147 sattv4u2  Fri, Aug 5, 2011 4:25:22pm

re: #141 Gus 802

24 hour rule.

It's late Friday,,,better make it 96 hours

148 albusteve  Fri, Aug 5, 2011 4:25:57pm

re: #144 recusancy

When you say "in cahoots" or "conspiracy" people will disregard you, as they probably should.

there are thousands of conspiracies playing out in DC at this very moment...nothing new and nothing will change...believing in the purity of the govt is monumentally naive

149 Slumbering Behemoth Stinks  Fri, Aug 5, 2011 4:26:20pm

re: #141 Gus 802

24 hour rule.

I can't wait that long, I want to be outraged now!
/

150 Charleston Chew  Fri, Aug 5, 2011 4:26:39pm

re: #143 wozzablog

Bad practices that were identical across the ratings agencies - each with a vested interest in keeping the bubble alive.

They can all be equally corrupt without conspiring.

151 albusteve  Fri, Aug 5, 2011 4:26:47pm

re: #149 Slumbering Behemoth

I can't wait that long, I want to be outraged now!
/

LOL!

152 Slumbering Behemoth Stinks  Fri, Aug 5, 2011 4:27:11pm

re: #149 Slumbering Behemoth

Note that I am not directing that comment at anyone in particular. I'm just trying to be funny in my own little way.

153 sattv4u2  Fri, Aug 5, 2011 4:27:48pm

re: #148 albusteve

there are thousands of conspiracies playing out in DC at this very moment...nothing new and nothing will change...believing in the purity of the govt is monumentally naive

Two words

AREA 51!!

If the movie Independence Day proved ANYTHING, it's that we have captured aliens in secret locals!

154 Killgore Trout  Fri, Aug 5, 2011 4:28:00pm

re: #146 Charleston Chew

He'll have to promise to take away their keys and drive the Republicans straight home.

That's probably pretty accurate. He's probably trying to convince S&P that the GOP can lose the house and revenues can be raised after the next election. If these rumors are true the GOP has fucked up big time. A downgrade would be historic and the business community will work to see the problem corrected. The Chamber of Commerce will not be happy about this.

155 sattv4u2  Fri, Aug 5, 2011 4:28:25pm

re: #152 Slumbering Behemoth

Note that I am not directing that comment at anyone in particular. I'm just trying to be funny in my own little way.

I knew that, hence the imediate smile AND upding

156 Wozza Matter?  Fri, Aug 5, 2011 4:28:28pm

re: #140 Charleston Chew

I assumed it was because they were getting fat cash from the same people they were supposed to be evaluating. Basic conflict of interest.

They all were.
But nobody was going to dowgrade paper individually as their trade would have gone elsewhere.

157 Gus  Fri, Aug 5, 2011 4:28:57pm

re: #149 Slumbering Behemoth

I can't wait that long, I want to be outraged now!
/

In that case...

Happy International Beer Day!

158 Charleston Chew  Fri, Aug 5, 2011 4:28:58pm

re: #148 albusteve

there are thousands of conspiracies playing out in DC at this very moment...nothing new and nothing will change...believing in the purity of the govt is monumentally naive

And there are billions more conspiracies around the globe if you define it as "any relationship that doesn't include me".

159 simoom  Fri, Aug 5, 2011 4:29:49pm

[Link: money.cnn.com...]

The source, a senior official involved in the discussions, said the agency was off by "trillions" in its economic model and was now working to revise its analysis.

...

The official described the talks as a "moving target" and said "it's clear some people there still want to go forward" and downgrade U.S. debt.

I get the feeling that S&P, after getting a little too involved in the minutia of the debt ceiling fiasco, feels now that they've laid down so many markers, they almost have to downgrade just to protect their reputation. On the other side I get the impression the the WH is trying to influence them to reconsider both by privately challenging their numbers, but also by leaks that will set up damage to their credibility if they go forward with a downgrade too. Basically throwing everything at the wall in order to get them to reconsider.

160 Slumbering Behemoth Stinks  Fri, Aug 5, 2011 4:29:50pm

re: #155 sattv4u2

Heck, I even made Albusteve LOL. That's gotta be worth a prize of some kind.

161 Gus  Fri, Aug 5, 2011 4:30:00pm

re: #152 Slumbering Behemoth

Note that I am not directing that comment at anyone in particular. I'm just trying to be funny in my own little way.

Damn you!

Praise Gravel

162 Slumbering Behemoth Stinks  Fri, Aug 5, 2011 4:30:41pm

re: #157 Gus 802

In that case...

Happy International Beer Day!

This is different for me than any other day how?

163 Gus  Fri, Aug 5, 2011 4:31:55pm

re: #162 Slumbering Behemoth

This is different for me than any other day how?

It's international that's why. Don't tell me you're considering starting a War on Christmas International Beer Day!!

//

164 Charleston Chew  Fri, Aug 5, 2011 4:32:01pm

re: #162 Slumbering Behemoth

This is different for me than any other day how?

Slightly lower domestic beer consumption?

165 Gus  Fri, Aug 5, 2011 4:32:38pm

re: #164 Charleston Chew

Slightly lower domestic beer consumption?

"Say is that a bottle of beer or perfume? Cuz I really can't tell."

//

166 McSpiff  Fri, Aug 5, 2011 4:32:53pm

re: #134 wozzablog

Oh, puh-lease.

Right. You might want to read up on Occam's razor. There's a difference between "The rating agencies screwed the pouch when presented with deliberately obtuse financial instruments" and "It was all a conspiracy".

So what leverage would the WH have over S&P? Well... what exactly is S&P?

Well, its a credit agency. Great. But that also has some legal weight because its also technically a "Nationally recognized statistical rating organization", as regulated by the SEC. So basically...

S&P's ability to make money as a rating agency is determined by the SEC. Which of course is headed by a chairperson appointed by the President.

Nope, no leverage there. The WH simply caught a math error. Mmmmhmmmm

167 Prononymous, rogue demon hunter  Fri, Aug 5, 2011 4:33:46pm

re: #148 albusteve

there are thousands of conspiracies playing out in DC at this very moment...nothing new and nothing will change...believing in the purity of the govt is monumentally naive

True. Substitute "anything" for "the govt" and it is still true.

168 Wozza Matter?  Fri, Aug 5, 2011 4:34:48pm

Conspiracy is a dirty word around here, i appreciate that.

169 Slumbering Behemoth Stinks  Fri, Aug 5, 2011 4:34:51pm

re: #163 Gus 802

It's international that's why. Don't tell me you're considering starting a War on Christmas International Beer Day!!

//

Damn foreigners and their damn beer, trying to take down America with their tasty, sudsy agenda!

170 simoom  Fri, Aug 5, 2011 4:35:52pm

[Link: twitter.com...]

@CNBC

Source: S&P Acknowledged Computational Error - S&P Either Revising Rational Or Deciding Against Downgrade

Revising their rationale...?

171 Page 3 in the Binder of Women  Fri, Aug 5, 2011 4:36:05pm

Happy Fucking Friday!

Big yay here.

172 Wozza Matter?  Fri, Aug 5, 2011 4:36:17pm

re: #159 simoom

[Link: money.cnn.com...]

I get the feeling that S&P, after getting a little too involved in the minutia of the debt ceiling fiasco, feels now that they've laid down so many markers, they almost have to downgrade just to protect their reputation. On the other side I get the impression the the WH is trying to influence them to reconsider both by privately challenging their numbers, but also by leaks that will set up damage to their credibility if they go forward with a downgrade too. Basically throwing everything at the wall in order to get them to reconsider.

Actual article title -


Meanwhile, A Quick Reminder Of How Much S&P Really Sucks At This

Read more:

173 Charleston Chew  Fri, Aug 5, 2011 4:36:32pm

re: #167 prononymous

True. Substitute "anything" for "the govt" and it is still true.

What did you just say about my daughter?!?!

174 reine.de.tout  Fri, Aug 5, 2011 4:36:51pm

re: #14 Alexzander

Wasn't it common knowledge a week or so ago that every considered budget plan would still result in a downgrade?

That's what I recall.

175 Charleston Chew  Fri, Aug 5, 2011 4:37:12pm

re: #168 wozzablog

Conspiracy is a dirty word around here.

We've all secretly agreed to make it one.

176 reine.de.tout  Fri, Aug 5, 2011 4:37:15pm

re: #174 reine.de.tout

That's what I recall.

OOPS. I see I'm wayyyyy late. Lemme go read.

177 Slumbering Behemoth Stinks  Fri, Aug 5, 2011 4:38:04pm

re: #171 Stanley Sea

Now that's a holiday I can get behind, if you know what I mean.

178 Sheila Broflovski  Fri, Aug 5, 2011 4:39:11pm

re: #125 McSpiff

"All the ratings agencies conspired to bring down the whole economy..."

Source please? I know they did an absolutely piss job rating the unregulated securities like CDSs and CDOs, but I've never heard anyone claim a grand conspiracy before.

Hanlon's Razor.

179 Charleston Chew  Fri, Aug 5, 2011 4:39:18pm

re: #169 Slumbering Behemoth

Damn foreigners and their damn beer, trying to take down America with their tasty, sudsy agenda!

Here's to good ol' American beers! So have a Miller... I mean a Budweiser... I mean.... oh hell brew your own.

180 Sheila Broflovski  Fri, Aug 5, 2011 4:40:04pm

re: #179 Charleston Chew

Here's to good ol' American beers! So have a Miller... I mean a Budweiser... I mean... oh hell brew your own.

I prefer Canadian beer. Have a Molson.

181 reine.de.tout  Fri, Aug 5, 2011 4:40:13pm

re: #118 albusteve

fucking chumps can't even get a simple downgrade right...oh well, I've been wiped out twice in three years so I'm used to it

Yeah.
And if you have any spare cash, now MIGHT be the time to buy?
Nobody pay any attention to that, I have absolutely no clue what I'm talking about, I rely on the Roi to keep me informed and he's not here right now.

182 Gus  Fri, Aug 5, 2011 4:40:42pm

Off by 2 trillion? WTF

183 Gus  Fri, Aug 5, 2011 4:41:49pm

jaketapper Jake Tapper
Government official: S+P was off by "roughly $2 trillion"

184 Wozza Matter?  Fri, Aug 5, 2011 4:41:54pm

from upthread -
I'm not a lone crazy person on this.

New Decision Puts Ratings Firms in a Tight Spot

Shulamit Shvartsman for Lawyers.com

Update

Late in April 2010, Shira A. Scheindlin, a New York federal district court judge, denied a motion to dismiss filed by Moody's Investors Service and Standard & Poor's Financial Services. The suit was filed against them and the other "big" rating firm, Fitch, by several investors as a class action.

The investors claim the three rating firms acted together to conceal or hide the true credit rating of, and so the risk of investing in, Rhinebridge, a structured investment vehicle (SIV). Rhinebridge failed, and the investors lost millions.

185 Slumbering Behemoth Stinks  Fri, Aug 5, 2011 4:42:29pm

re: #182 Gus 802

fuckin' magnets

186 Wozza Matter?  Fri, Aug 5, 2011 4:42:46pm

re: #182 Gus 802

Off by 2 trillion? WTF

see -

Meanwhile, A Quick Reminder Of How Much S&P Really Sucks At This

Read more: [Link: www.businessinsider.com...]

187 Gus  Fri, Aug 5, 2011 4:43:03pm

re: #185 Slumbering Behemoth

fuckin' magnets

They must have hired the accounting firm of Rick Perry and Assoc.

//

188 Ojoe  Fri, Aug 5, 2011 4:43:16pm

He's only 50? It usually takes longer than that to be wise.

189 Ojoe  Fri, Aug 5, 2011 4:44:00pm

re: #180 Alouette

Anyone from LA remember Brew 102?

190 goddamnedfrank  Fri, Aug 5, 2011 4:45:17pm
Veterans of Sen. Kay Bailey Hutchison’s unsuccessful 2010 primary challenge to Perry recalled being stunned at the way attacks bounced off the governor in a strongly conservative state gripped by tea party fever. Multiple former Hutchison advisers recalled asking a focus group about the charge that Perry may have presided over the execution of an innocent man — Cameron Todd Willingham — and got this response from a primary voter: “It takes balls to execute an innocent man."
191 Ojoe  Fri, Aug 5, 2011 4:45:26pm

Birra Peroni.

192 Slumbering Behemoth Stinks  Fri, Aug 5, 2011 4:45:40pm

re: #180 Alouette

I prefer Canadian beer. Have a Molson.

Thanks eh.

193 Gus  Fri, Aug 5, 2011 4:46:22pm

Oh boy. If I'm reading right S&P is acknowledging their 2 trillion dollar error. So now they're planning on moving ahead while revising their rationale for a downgrade.

Maybe. Kind of. Sort of. Allegedly. Unnamed sources. Possibly. Word has it. Void where prohibited by law.

194 Slumbering Behemoth Stinks  Fri, Aug 5, 2011 4:46:25pm

re: #188 Ojoe

He's only 50? It usually takes longer than that to be wise.

One thing I've learned? Age != Wisdom.

195 Page 3 in the Binder of Women  Fri, Aug 5, 2011 4:46:51pm

re: #190 goddamnedfrank

That is so disgusting.

No empathy allowed anymore in America.

196 Ojoe  Fri, Aug 5, 2011 4:47:11pm

re: #186 wozzablog

"Bite my shiny metal rating."

197 Wozza Matter?  Fri, Aug 5, 2011 4:47:59pm

re: #195 Stanley Sea

That is so disgusting.

No empathy allowed anymore in America.

Empathy is a Nazi emotion........lest we forget how learn-ed Glenn of St Beck preach-ed

198 Slumbering Behemoth Stinks  Fri, Aug 5, 2011 4:49:07pm

re: #190 goddamnedfrank

And that asshole's vote counts just as much as yours or mine. :sigh:

199 reine.de.tout  Fri, Aug 5, 2011 4:49:15pm
200 Ojoe  Fri, Aug 5, 2011 4:49:28pm

re: #184 wozzablog

"Structured Investment Vehicle" sounds like something that would really disintegrate in a crash test.

201 engineer cat  Fri, Aug 5, 2011 4:49:46pm

re: #195 Stanley Sea

That is so disgusting.

No empathy allowed anymore in America.

empathy is a sign of the antichrist

also golf pants, but do they ever mention that???

202 Gus  Fri, Aug 5, 2011 4:50:17pm

So. Apparently it wasn't the White House. It was Treasury.

203 engineer cat  Fri, Aug 5, 2011 4:51:32pm

re: #200 Ojoe

"Structured Investment Vehicle" sounds like something that would really disintegrate in a crash test.

some reps at my bank trying to get me to take out a loan (a number of years back when they still lent money) were so clueless as to keep on telling me what an excellent "financial product" it was

204 Wozza Matter?  Fri, Aug 5, 2011 4:51:44pm

re: #202 Gus 802

So. Apparently it wasn't the White House. It was Treasury.

This needs a full news cycle to shake out - we'll know by the sunday morning shows.

205 blueraven  Fri, Aug 5, 2011 4:51:48pm

re: #130 simoom

This is sort of weird, coming from McArdle:
[Link: www.theatlantic.com...]

I'm sure she'll find a way to walk this back soon, but it still was surprising to see.

She got hammered pretty hard for a ridiculous post yesterday trying to blame the debt on Obama. Also saying the dems were pushing the drug prescription bill. Ha! The vote was something like 207(R) to 7(D)

Here's Jonathan Chait with the facts

[Link: www.tnr.com...]

Maybe she is just trying to suck up a bit.

206 Charleston Chew  Fri, Aug 5, 2011 4:52:45pm

re: #199 reine.de.tout

S&P's spreadsheet?

Always love seeing that footage. Engineers can bs like anyone else, but ultimately they have to be more honest than many professions because reality will call their bluff.

207 wrenchwench  Fri, Aug 5, 2011 4:53:52pm

re: #190 goddamnedfrank

“It takes balls to execute an innocent man."

Are they located where the heart used to be?

208 Ojoe  Fri, Aug 5, 2011 4:54:27pm

Structured investment vehicle crash test:

(Chinese car, actually)

209 Gus  Fri, Aug 5, 2011 4:55:17pm

Well there is some good news. Apparently S&P's mistake has both the left wing and the right wing laughing together at S&P.

210 blueraven  Fri, Aug 5, 2011 4:55:26pm

re: #188 Ojoe

He's only 50? It usually takes longer than that to be wise.

When do you turn 50? /

211 Ojoe  Fri, Aug 5, 2011 4:55:52pm

re: #203 engineer dog

Whatever it is, it's not a "product."

212 Ojoe  Fri, Aug 5, 2011 4:56:14pm

re: #210 blueraven

I'm in my 62nd year.

213 Wozza Matter?  Fri, Aug 5, 2011 5:02:18pm

Ok, g'night all.

to recap -
My mom is on the road to recovery after major surgery.

My hospital procedure today was a success.

A new york court upheld allegations of collusion between
the ratings agencies.

S&P have a poor rep when it comes to downgrades.

214 wrenchwench  Fri, Aug 5, 2011 5:03:05pm

re: #213 wozzablog

Ok, g'night all.

to recap -
My mom is on the road to recovery after major surgery.

My hospital procedure today was a success.

Yay!

Sleep well.

215 Wozza Matter?  Fri, Aug 5, 2011 5:04:27pm

re: #214 wrenchwench

thanks x
after morphine, valium, 3hrs sleep last night and a 24hr fast - i think i shall sleep very soundly.

not sure i'll want anyone interperting tonights dreams though............

216 Slumbering Behemoth Stinks  Fri, Aug 5, 2011 5:08:24pm

re: #215 wozzablog

The proper interpretation of every dream ever dreamed or to be dreamed...


"It was a fucking dream".

217 albusteve  Fri, Aug 5, 2011 5:09:09pm

love me now or love me not...
Buffet

218 Wozza Matter?  Fri, Aug 5, 2011 5:09:58pm

re: #216 Slumbering Behemoth

The proper interpretation of every dream ever dreamed or to be dreamed...

"It was a fucking dream".

True that.

Peace, out.

219 Killgore Trout  Fri, Aug 5, 2011 5:14:39pm
220 Ojoe  Fri, Aug 5, 2011 5:14:40pm

Slow

221 Page 3 in the Binder of Women  Fri, Aug 5, 2011 5:15:53pm

What would you pay for this plant? I have like 30 of em, and planning on a sale tomorrow. Tks!

Succulents in Mexican terra cotta, made with love.

222 albusteve  Fri, Aug 5, 2011 5:16:42pm

re: #220 Ojoe

Slow

it's pretty bad when you don't like some Buffet

223 Prononymous, rogue demon hunter  Fri, Aug 5, 2011 5:17:33pm

re: #173 Charleston Chew

What did you just say about my daughter?!?!

She's a lump of carbon with a lot of impurities.

224 Slumbering Behemoth Stinks  Fri, Aug 5, 2011 5:18:38pm

re: #221 Stanley Sea

Looks neat, but I'm not really hip on succulents. Including the terra cotta? $15-25 maybe. I dunno. Looks real cool, though.

225 Gus  Fri, Aug 5, 2011 5:20:13pm

@BryanJFischer Bryan Fischer
I can die a happy man. Chris Matthews calls me a wingnut, plays selection of my greatest hits. Won't stop The Response. [Link: ow.ly...]

Retweet!

I'm tempted to Tweet him that he's beyond being a wingnut.

226 Killgore Trout  Fri, Aug 5, 2011 5:20:32pm

I've pretty much had it with the economy and I'm even more determined to insulate myself from all the bullshit by focusing on self sufficiency bordering on survivalism. If we avoid the debt downgrade I'll be finalizing my greenhouse plans to grow my own food year round. I've already paid of my mortgage. Next up will be energy efficient windows and solar panels. Maybe zombie proof fencing.

227 Gus  Fri, Aug 5, 2011 5:21:08pm

re: #226 Killgore Trout

I've pretty much had it with the economy and I'm even more determined to insulate myself from all the bullshit by focusing on self sufficiency bordering on survivalism. If we avoid the debt downgrade I'll be finalizing my greenhouse plans to grow my own food year round. I've already paid of my mortgage. Next up will be energy efficient windows and solar panels. Maybe zombie proof fencing.

Survivalist!

//

228 Kragar  Fri, Aug 5, 2011 5:21:16pm

re: #225 Gus 802

@BryanJFischer Bryan Fischer
I can die a happy man. Chris Matthews calls me a wingnut, plays selection of my greatest hits. Won't stop The Response. [Link: ow.ly...]

Retweet!

I'm tempted to Tweet him that he's beyond being a wingnut.

If they're the Response, it was a stupid fucking question to begin with.

229 wrenchwench  Fri, Aug 5, 2011 5:21:48pm

re: #226 Killgore Trout

I've pretty much had it with the economy and I'm even more determined to insulate myself from all the bullshit by focusing on self sufficiency bordering on survivalism. If we avoid the debt downgrade I'll be finalizing my greenhouse plans to grow my own food year round. I've already paid of my mortgage. Next up will be energy efficient windows and solar panels. Maybe zombie proof fencing.

And a Frog Army!

230 Decatur Deb  Fri, Aug 5, 2011 5:22:28pm

re: #226 Killgore Trout

I've pretty much had it with the economy and I'm even more determined to insulate myself from all the bullshit by focusing on self sufficiency bordering on survivalism. If we avoid the debt downgrade I'll be finalizing my greenhouse plans to grow my own food year round. I've already paid of my mortgage. Next up will be energy efficient windows and solar panels. Maybe zombie proof fencing.

Excellent idea--have you already done overkill attic insulation? There are tax breaks for it through the end of the year.

231 Killgore Trout  Fri, Aug 5, 2011 5:22:34pm

re: #227 Gus 802

Survivalist!

//

It's getting close to that. I've always been poor but the past few years have really changed my thinking.

232 simoom  Fri, Aug 5, 2011 5:23:03pm

Ouch:
[Link: twitter.com...]

@Reuters

FLASH: S&P downgrades U.S. credit rating to AA+ with negative outlook

233 albusteve  Fri, Aug 5, 2011 5:23:08pm

re: #226 Killgore Trout

I've pretty much had it with the economy and I'm even more determined to insulate myself from all the bullshit by focusing on self sufficiency bordering on survivalism. If we avoid the debt downgrade I'll be finalizing my greenhouse plans to grow my own food year round. I've already paid of my mortgage. Next up will be energy efficient windows and solar panels. Maybe zombie proof fencing.

I've been living like that my entire adult life....accelerated the last five years or so...live simple, live cheap and fuck the rest

234 Page 3 in the Binder of Women  Fri, Aug 5, 2011 5:23:17pm

re: #224 Slumbering Behemoth

Looks neat, but I'm not really hip on succulents. Including the terra cotta? $15-25 maybe. I dunno. Looks real cool, though.

Thanks! Ya, terra cotta included. (funny if you add the cost of going to Mexico to get it) Everytime we went (several per year) we'd pick up like 20 dishes. Now, it's just a beautiful burden (will not move them again)

235 Gus  Fri, Aug 5, 2011 5:23:24pm

thinkprogress ThinkProgress
BREAKING: S&P downgrades U.S. credit rating to AA+ with negative outlook (via @Reuters)

236 Killgore Trout  Fri, Aug 5, 2011 5:24:11pm

re: #230 Decatur Deb

Excellent idea--have you already done overkill attic insulation? There are tax breaks for it through the end of the year.

Yeah, I installed 3 inch think solid foam insulation a while back. I was thinking about a white roof but I'll probably just skip over that and go with solar panels in a couple years.

237 Gus  Fri, Aug 5, 2011 5:24:17pm

So there it is. AA+.

238 wrenchwench  Fri, Aug 5, 2011 5:24:22pm

re: #234 Stanley Sea

Thanks! Ya, terra cotta included. (funny if you add the cost of going to Mexico to get it) Everytime we went (several per year) we'd pick up like 20 dishes. Now, it's just a beautiful burden (will not move them again)

I agree with SB, and I am fairly hip on succulents.

239 laZardo  Fri, Aug 5, 2011 5:24:27pm

re: #229 wrenchwench

And a Frog Plant Army!

Well, he did say zombies.

240 Killgore Trout  Fri, Aug 5, 2011 5:24:46pm

re: #232 simoom

Ouch:
[Link: twitter.com...]

Fuck

241 Page 3 in the Binder of Women  Fri, Aug 5, 2011 5:25:17pm

re: #235 Gus 802

thinkprogress ThinkProgress
BREAKING: S&P downgrades U.S. credit rating to AA+ with negative outlook (via @Reuters)

Upding to you and Simoom for the news scoop, not the actual news.

242 Killgore Trout  Fri, Aug 5, 2011 5:25:17pm

We're in for a world of shit now.

243 BongCrodny  Fri, Aug 5, 2011 5:25:26pm

Huffington Post: Rick Perry's College Transcript: A Lot Of C's And D's

He rarely earned anything above a C in his courses -- earning a C in U.S. History, a D in Shakespeare, and a D in the principles of economics. Perry got a C in gym.


I'm starting to understand that whole $27-billion-Texas-deficit thing.

244 ProGunLiberal  Fri, Aug 5, 2011 5:25:44pm

re: #240 Killgore Trout

It's only one of three. Still sucks but maybe people will take a closer look at S&P.

245 albusteve  Fri, Aug 5, 2011 5:26:53pm

re: #242 Killgore Trout

We're in for a world of shit now.


cash rules...never forget it

246 laZardo  Fri, Aug 5, 2011 5:27:16pm

re: #243 BongCrodny

Huffington Post: Rick Perry's College Transcript: A Lot Of C's And D's


I'm starting to understand that whole $27-billion-Texas-deficit thing.

A's are for Oakland them lib'rul nosy socialist elites!

247 Charles Johnson  Fri, Aug 5, 2011 5:27:22pm

They did it. The US credit rating has been downgraded.

248 laZardo  Fri, Aug 5, 2011 5:27:34pm

re: #245 albusteve

cashgold rules...never forget it

ftfy

/ q;

249 Decatur Deb  Fri, Aug 5, 2011 5:27:43pm

re: #236 Killgore Trout

Yeah, I installed 3 inch think solid foam insulation a while back. I was thinking about a white roof but I'll probably just skip over that and go with solar panels in a couple years.

Did an energy-star 'white' roof a year or so ago. It is actually a very light gray (Shasta White) which looks good on the house. The roof and R-40+ insulation have knocked about 20% off Alabama AC. We did the upgraded windows a while back.

250 ProGunLiberal  Fri, Aug 5, 2011 5:28:12pm

re: #247 Charles

Your opinion on S&P?

251 Gus  Fri, Aug 5, 2011 5:28:25pm

(Reuters) - The United States lost its top-notch AAA credit rating from Standard & Poor's on Friday, in a dramatic reversal of fortune for the world's largest economy.

S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about growing budget deficits.

U.S. Treasuries, once undisputedly seen as the safest investment in the world, are now rated lower than bonds issued by countries such as the UK, Germany, France or Canada.

The outlook on the new U.S. credit rating is negative, S&P said in a statement, a sign that another downgrade is possible in the next 12 to 18 months.

252 Kragar  Fri, Aug 5, 2011 5:28:51pm

re: #245 albusteve

cash rules...never forget it

Who needs something like cash when you can trade that worthless stuff in for gold?
/

253 Gus  Fri, Aug 5, 2011 5:29:01pm

I guess we're now officially a banana country.

254 albusteve  Fri, Aug 5, 2011 5:29:07pm

re: #248 laZardo

/ q;

I did my gold thing, in spite of all the ridiculous blathering here about it....made an ungodly profit, now I gotta deal with the IRS

255 laZardo  Fri, Aug 5, 2011 5:29:17pm

re: #251 Gus 802

The outlook on the new U.S. credit rating is negative, S&P said in a statement, a sign that another downgrade is possible in the next 12 to 18 months.

In other words, they're going to wait for the Wednesday after elections.

256 Slumbering Behemoth Stinks  Fri, Aug 5, 2011 5:29:22pm

First debt downgrade in US history. Thanks Tea Party/GOP.

257 Kragar  Fri, Aug 5, 2011 5:29:41pm

re: #253 Gus 802

I guess we're now officially a banana country.

Well, God did design us, right?
/

258 Ojoe  Fri, Aug 5, 2011 5:29:45pm

re: #247 Charles

Probably a good thing in the long run.

259 SanFranciscoZionist  Fri, Aug 5, 2011 5:30:27pm

re: #247 Charles

They did it. The US credit rating has been downgraded.

Well, shit.

260 Charles Johnson  Fri, Aug 5, 2011 5:30:41pm

re: #250 ProLifeLiberal

Your opinion on S&P?

Regardless of what anyone thinks about S&P, this is a disgrace.

Maybe they're jumping the gun, maybe they're making a political statement, but the fact is that the Tea Party right takes ALL the blame for this. S&P would not have even thought of doing this if the GOTP hadn't turned this debt ceiling hike into a political nightmare.

Assholes.

261 ProGunLiberal  Fri, Aug 5, 2011 5:30:50pm

re: #255 laZardo

That is some interesting timing.

I wonder....

262 Decatur Deb  Fri, Aug 5, 2011 5:30:50pm

re: #258 Ojoe

Probably a good thing in the long run.

Having a long run is a good thing in the long run.

263 albusteve  Fri, Aug 5, 2011 5:31:43pm

if assholes could fly, the GOP would be an airport

264 laZardo  Fri, Aug 5, 2011 5:31:44pm

re: #260 Charles

Regardless of what anyone thinks about S&P, this is a disgrace.

Maybe they're jumping the gun, maybe they're making a political statement, but the fact is that the Tea Party right takes ALL the blame for this. S&P would not have even thought of doing this if the GOTP hadn't turned this debt ceiling hike into a political nightmare.

Assholes.

Blame or credit? All they have to do is pass the buck up to the President and they're a shoe-in for 2012.

265 simoom  Fri, Aug 5, 2011 5:33:10pm

re: #258 Ojoe

Probably a good thing in the long run.

[Link: blogs.reuters.com...]

Alan Taylor and Christopher Meissner have a long new paper out looking at the value of America’s “exorbitant privilege” — they put it at roughly 1% of GDP and falling. That’s $150 billion a year or so. An S&P downgrade would surely accelerate the decline, by some unknown amount.

Do the mandarins at S&P — people who, it seems, can’t even get basic macro sums right — really want to cost the US economy tens of billions of dollars a year by downgrading the country’s debt and causing all manner of potential market mischief as a result?

266 Page 3 in the Binder of Women  Fri, Aug 5, 2011 5:33:15pm

re: #264 laZardo

Blame or credit? All they have to do is pass the buck up to the President and they're a shoe-in for 2012.

Isn't it the roll of the Congress to address this? How they turned it to the Executive Branch is amazing.

267 Douchecanoe and Ryan Too  Fri, Aug 5, 2011 5:33:18pm

re: #264 laZardo

Blame or credit? All they have to do is pass the buck up to the President and they're a shoe-in for 2012.

Good luck to them with that. The President has been obstructing the Teabaggers as much as he could without jeopardizing the debt ceiling. Hopefully he can launch a media blitz that will pin the blame right where it belongs - on the asshats trying to hijack the economy for cheap political points.

268 makeitstop  Fri, Aug 5, 2011 5:33:21pm

So, I go and take a nap for a couple of hours and come back to this thread. Just read to the end.

I thought we were gonna dodge it there or a minute.

This sucks. It's like having a nice car and your psycho ex-girlfriend takes a key to one side of it.

(Not that I've ever had that happen...)
/

269 albusteve  Fri, Aug 5, 2011 5:34:13pm

I don't even know what the downgrade means to individual workers living day to day....not much I think

270 Douchecanoe and Ryan Too  Fri, Aug 5, 2011 5:34:17pm

re: #266 Stanley Sea

Isn't it the roll of the Congress to address this? How they turned it to the Executive Branch is amazing.

It really bugs me how many people automatically assume the President is responsible for everything that happens, good or bad. Our Congresscritters are the lawmakers and the keepers of the purse strings.

271 laZardo  Fri, Aug 5, 2011 5:34:28pm

re: #266 Stanley Sea

Isn't it the roll of the Congress to address this? How they turned it to the Executive Branch is amazing.

That's the point. Convince the voters that the only politician they can trust is the GOP in charge of their district.

272 Gus  Fri, Aug 5, 2011 5:34:35pm

And the DOW is already going down the shitter. Wait until Monday. Things are going to get worse.

273 laZardo  Fri, Aug 5, 2011 5:35:17pm

re: #267 thedopefishlives

Good luck to them with that. The President has been obstructing the Teabaggers as much as he could without jeopardizing the debt ceiling. Hopefully he can launch a media blitz that will pin the blame right where it belongs - on the asshats trying to hijack the economy for cheap political points.

Operative word...

274 Alexzander  Fri, Aug 5, 2011 5:35:26pm

Just saw a breaking news alert on Al Jazeera that the us has been downgraded!!

275 albusteve  Fri, Aug 5, 2011 5:35:26pm

re: #272 Gus 802

And the DOW is already going down the shitter. Wait until Monday. Things are going to get worse.

I said that weeks ago...no surprise

276 simoom  Fri, Aug 5, 2011 5:35:51pm

I've been trying to get to S&P's press release but their server is totally swamped.

277 Ojoe  Fri, Aug 5, 2011 5:36:02pm

re: #260 Charles

BOTH parties are to blame, and for actions going back several years at least.

And beyond that, the citizenry is to blame, for voting in the sleazy politicians and believing their promises.

278 wrenchwench  Fri, Aug 5, 2011 5:36:19pm

The bigger they come, the farther they fall.

This was a bad week for Carlos Slim, the world's richest man.

The Mexican billionaire lost an estimated $8 billion as his stock holdings took a beating during the worldwide market downturn, according to Bloomberg News.

Slim’s holdings dropped 11% from July 29 to the markets’ close on Thursday, Bloomberg reported.

But he didn't fall too far:

He shouldn’t be too concerned. Slim’s holdings are still valued at about $63 billion, according to the report.

[...]

279 Slumbering Behemoth Stinks  Fri, Aug 5, 2011 5:36:21pm

Increased interest rates for everyone. Including the gov't. So now we'll be spending even more money just trying to pay our loans.

Now that's fiscal responsibility, Teahadi style.

280 Page 3 in the Binder of Women  Fri, Aug 5, 2011 5:36:30pm

Twitter going off

shannynmoore Shannyn Moore

Wow, the terrorists couldn't knock our credit rating down...it took the teaparty GOPers. #joebidenwasright

281 Page 3 in the Binder of Women  Fri, Aug 5, 2011 5:38:01pm

Via Josh Marshall (TPM)

#Heckavajobteaparty

282 Kragar  Fri, Aug 5, 2011 5:38:03pm

re: #279 Slumbering Behemoth

Increased interest rates for everyone. Including the gov't. So now we'll be spending even more money just trying to pay our loans.

Now that's fiscal responsibility, Teahadi style.

Glad I got my credit card paid off a few weeks ago.

283 makeitstop  Fri, Aug 5, 2011 5:38:16pm

This Borowitz tweet applies.

Biden apologizes to Tea Party: "Did I say terrorists? I meant axe murderers."

284 Ojoe  Fri, Aug 5, 2011 5:38:19pm

re: #270 thedopefishlives

It really bugs me how many people automatically assume the President is responsible for everything that happens, good or bad. Our Congresscritters are the lawmakers and the keepers of the purse strings.

Here is an interesting article on how congress is screwing up big time on this debt agreement:

[Link: www.americanthinker.com...]

285 wrenchwench  Fri, Aug 5, 2011 5:38:37pm

re: #281 Stanley Sea

Via Josh Marshall (TPM)

#Heckavajobteaparty

Just saw that. Post it on the new thread too, please!

286 McSpiff  Fri, Aug 5, 2011 5:41:09pm

Now, does Moody's follow suit....

287 Our Precious Bodily Fluids  Fri, Aug 5, 2011 5:41:19pm

re: #263 albusteve

if assholes could fly, the GOP would be an airport

I don't even want to think what those security checkpoints would be like.

288 wrenchwench  Fri, Aug 5, 2011 5:42:53pm

re: #284 Ojoe

Here is an interesting article on how congress is screwing up big time on this debt agreement:

[Link: www.americanthinker.com...]

You need a new source for info. American Thinker is terrible, and the individuals who wrote that are too.

289 Page 3 in the Binder of Women  Fri, Aug 5, 2011 5:43:24pm

re: #283 makeitstop

This Borowitz tweet applies.

Biden apologizes to Tea Party: "Did I say terrorists? I meant axe murderers."

QTF

290 God of Binders with Women  Fri, Aug 5, 2011 5:45:50pm

OT, but important. S&P has just downgraded US debt to AA+.

291 God of Binders with Women  Fri, Aug 5, 2011 5:48:50pm

Sorry, I just have read up a bit before realizing I was late to the party on the credit rating down ding.

292 Page 3 in the Binder of Women  Fri, Aug 5, 2011 5:48:56pm

re: #290 Kid A

OT, but important. S&P has just downgraded US debt to AA+.

Upstairs my friend.

293 WINDUPBIRD DISEASE [S.K.U.M.M.]  Fri, Aug 5, 2011 5:56:17pm

re: #180 Alouette

I prefer Canadian beer. Have a Molson.

Image: unibroue.jpg

294 prairiefire  Fri, Aug 5, 2011 7:11:22pm

re: #221 Stanley Sea

What would you pay for this plant? I have like 30 of em, and planning on a sale tomorrow. Tks!

Succulents in Mexican terra cotta, made with love.

I can't tell how wide the bowl is. They look great! $15-$25.00?


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