3 | Kragar Fri, Aug 5, 2011 2:26:51pm |
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 downgradeFuck.
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 |
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 |
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 downgradeFuck.
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.
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...*
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 ofneoliberal economicsReaganomics.
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
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.
100 | recusancy Fri, Aug 5, 2011 3:58:42pm |
re: #5 Killgore Trout
Uh oh, is it true?
Govt official: US expecting S&P downgrade
Fuck.
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 |
re: #98 albusteve
'challenged'...?
Vito go have a talk with them?
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.
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 |
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
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 |
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 |
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.
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 |
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 |
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 |
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
ChristmasInternational 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...]
@CNBCSource: 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 |
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.
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.
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.
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."
192 | Slumbering Behemoth Stinks Fri, Aug 5, 2011 4:45:40pm |
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 |
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???
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
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 |
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 |
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.
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 |
S&P said to back away from U.S. downgrade
We may dodge the bullet.
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!
222 | albusteve Fri, Aug 5, 2011 5:16:42pm |
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...]
@ReutersFLASH: 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.
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.
240 | Killgore Trout Fri, Aug 5, 2011 5:24:46pm |
241 | Page 3 in the Binder of Women Fri, Aug 5, 2011 5:25:17pm |
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 |
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.
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.
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?
/
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 |
259 | SanFranciscoZionist Fri, Aug 5, 2011 5:30:27pm |
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 |
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)
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 |
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 |
293 | WINDUPBIRD DISEASE [S.K.U.M.M.] Fri, Aug 5, 2011 5:56:17pm |