:frown:
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USA Downgraded.
- Thread starter EAC
- Start date
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I wish there were more politics like Ron Paul and less like our Bipolar one party system we have now, different faces, same politics, same BS printing money out of thin air and expending GAZZZZZZLIONS of non existent $$ in incredibly unnecessary machines such war and bureaucracy ............ arghhhh
Happy Friday!
'I wish there were more politics like Ron Paul and less like our Bipolar one party system we have now, different faces, same politics, same BS printing money out of thin air and expending GAZZZZZZLIONS of non existent $$ in incredibly unnecessary machines such war and bureaucracy ............ arghhhh
Happy Friday!
and .......... S&P is saying another downgrade to AA within 2 years. Morelike, next year. :frown: If so, hope it's before the election so folks can decide what to do.
way to go S&P!!!! We are all going to get screwed on this one and prolong this horrible rescession....nice....
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Was avoidable too, that's the kicker to me.
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...
I wish there were more politics like Ron Paul and less like our Bipolar one party system we have now, different faces, same politics, same BS printing money out of thin air and expending GAZZZZZZLIONS of non existent $$ in incredibly unnecessary machines such war and bureaucracy ............ arghhhh
Happy Friday!
Hit the nail on the head.
way to go S&P!!!! We are all going to get screwed on this one and prolong this horrible rescession....nice....
Are you blaming this on S&P, or our inept governing body?
Well, election has consequences. Those who thought a guy who never ever worked at a lemonade stand can run the greatest nation on earn. Your grand experiment failed!
When laziness is an acceptable and prevalent form of disability in this country, "downgrading" is probably a VERY understatement. I would say the USA is F@#Ked beyond repair.
Steve
Steve
So you are saying the downgrade is Obama's fault? Really? Did you watch the debt ceiling BS the last few weeks?
This government is completely dysfunctional, but its hardly Obama's fault.
You cannot run a country when everything you try to do it met with people wanting to do the exactly opposite no matter what it is. Regardless of who is in power, if one wants to turn left and the other wants to turn right and one party is unwilling to comprise, you end up with the cluster F**K we have now.
As for the S&P... yeah.. screw them. They didn't have to do this.
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I believe it was Robert Reich who recently opined on NPR about the S&P threat that they listed many of the mortgage backed securities as AAA, and had S&P properly rated those securites, the collapse of the securites never would have happened and we wouldn't be where we are currently.
Other than that, Meh!
Oh wait.....I have the answer.....let's drop the limit of what we consider to be "wealthy" people to be, say those that make $200,000 per year and just double their taxes and remove more small business exemptions and then exempt those that make less than $20K per year from paying any taxes and OH, let's extend unemployment to 4 years and increase those benefits too...that should do the trick. This country will be back on track in no time.
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Obama, Tim Geithner, S&P.....meh. They've all lost any shred of credibility they may have formerly had.
Along with the rest of the idiot crooks and career politicians we have "serving" in Congress.
Along with the rest of the idiot crooks and career politicians we have "serving" in Congress.
http://thehill.com/blogs/on-the-mon...r-no-risk-that-us-loses-its-top-credit-rating
Yep. No credibility at all.
And all the Democrats have to offer is to raise taxes on the so-called rich. Never mind that would be an immediate job-killer. Never mind that even if they took a 100% tax on the rich it wouldn't come close to making a dent.
http://blogs.dailymail.com/donsurber/archives/39534
Here's what I don't understand... If the poor and lower middle class (the bottom 50%) pay zero income tax how can it be that the rich aren't paying their fair share? Anyone?
I don't believe much in Politics no more, but this is a true practical and wise man, he admits his shortcomings yet he is clean on his visions, I never voted in my life, but if I had to vote, I'd vote on him.
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God Bless the USA, I hope we can al recuperate and learn. 2012 is coming.
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God Bless the USA, I hope we can al recuperate and learn. 2012 is coming.
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Lol, never mind the facts Jimbo.
For you'll soon be reminded of the completely irrelevant statistic that tax revenues in relation to GDP are at historical lows, lol.
And then- since you aren't keen on paying any more than the nearly 50% of your income that is already taken from you- you'll be called a greedy corporate "fat cat" beholden to "big business."
The same kind of "fat cat" mind you- that our embattled president comes to when he wants campaign contributions.
Oh the hypocrisy. :frown:
Many of our politicians are horrendous leaders but everyone of them was voted in. The ones that do come up with good ideas we allow to be ridiculed by others in the government. Even the apathy I feel towards politics carries a price - the few elect most leaders due to low voter turn out. We cannot afford that any more.
There is a saying in securities trading - hope is often more expensive than fear. Most of us deep down simply hope that the country will find its way. Fear keeps you on the sidelines but it also keeps you focused, if not hyper alert. Hope on the other hand keeps you hanging on past the point of no return; it allows you to ignore the indisputable right up until the point it overwhelms you.
I cannot verify it with links off of the top of my head, but the total the average senior that turns 65 today contributed to SS and Medicare/caid is about $120,000. That same senior will extract $800,000 from the system on average before dying, the vast majority of which comes from medicare expenses in the final days of life. This is based on conservative cost increases in healthcare over time and is probably low.
That's a $620,000,000,000 (620 Billion) loss per 1 million retiring seniors. Hold on tight - for a mere 10 million retirees we hit a staggering 6.2 trillion - that's with a 'T'. We are letting old people and their lobbying efforts bankrupt us into absolute oblivion. They have in effect achieved one of the most massive transfers of wealth in history. And our response? Our politicians are corrupt and 'this sucks'. Here's a sensible idea based on human response to incentive structure and our financials - For the first $25k you get in medicare, you only have to contribute 1% of the cost of each bill. For the next $25k, 3%, the following $25k, 5%, and so on. By the time the bill is at $250k, you have to contribute 19% as a 'co-pay' of sorts. If your family wants you to have an experimental $500,000 surgery when you are 99 years old - fine - but if they don't think it's worth even 19% (95k) of the cost to get it done, why the **** do they think it's worth it/justifiable while using other people's money?
There is a saying in securities trading - hope is often more expensive than fear. Most of us deep down simply hope that the country will find its way. Fear keeps you on the sidelines but it also keeps you focused, if not hyper alert. Hope on the other hand keeps you hanging on past the point of no return; it allows you to ignore the indisputable right up until the point it overwhelms you.
I cannot verify it with links off of the top of my head, but the total the average senior that turns 65 today contributed to SS and Medicare/caid is about $120,000. That same senior will extract $800,000 from the system on average before dying, the vast majority of which comes from medicare expenses in the final days of life. This is based on conservative cost increases in healthcare over time and is probably low.
That's a $620,000,000,000 (620 Billion) loss per 1 million retiring seniors. Hold on tight - for a mere 10 million retirees we hit a staggering 6.2 trillion - that's with a 'T'. We are letting old people and their lobbying efforts bankrupt us into absolute oblivion. They have in effect achieved one of the most massive transfers of wealth in history. And our response? Our politicians are corrupt and 'this sucks'. Here's a sensible idea based on human response to incentive structure and our financials - For the first $25k you get in medicare, you only have to contribute 1% of the cost of each bill. For the next $25k, 3%, the following $25k, 5%, and so on. By the time the bill is at $250k, you have to contribute 19% as a 'co-pay' of sorts. If your family wants you to have an experimental $500,000 surgery when you are 99 years old - fine - but if they don't think it's worth even 19% (95k) of the cost to get it done, why the **** do they think it's worth it/justifiable while using other people's money?
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It's a very simplistic line of logic and I agree to a certain extent. Here's the real truth, if people would have been able to pay their mortgages, securities would have remained secure. These rating companies had no way of accurately rating these types of mortgage backed securities because there hadn't been anything to compare it against from an historical perspective (sub-prime mortgages). Sub-Prime mortgages were encouraged by administrations going back to Clinton. Quotas were set and threats where made to privately owned banks who didn't meet these "minority lending" quotas. Fannie and Freddie bought these mortgages and investors had no questions in buying the securities because they where government backed. Historically that would be a "good buy." Investors weren't much interested in the lending practices and standards because they where so far removed from it all and the risk was with the tax payer (Fannie and Freddie). This clusterfork we are in now threads back more than a decade and it has EVERYTHING to do with government intervention and policy. Those who say it was a lack of regulation haven't done their research.
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How about the people that bought 550K properties and they are simply walking away -losing over hundreds of thousands after paying for may years- ..... in many cases these people can still pay- but somehow are forced to walk out because the banks refuse to assist (lower % interest, or revising contracts) and their proprieties are valued in the 150K's -or even lower- ? ... I mean, also the prices down the drain are making people having a pretty incredible mind blowing hard time to accept to get raped ...
So, WHY THE F***K our magnificent financial institutions -and who ever regulates that- allowed to the prices to GO OVER THE ROOF for housing? I mean, we are talking about a REAL NECESSITY, real people with families, not Lamborghinis or banalities like that, then the same happened the other way around allowing prices to go so low that they are beyond reasonable?
I mean, is easy to point fingers on people that are defaulting their mortgages .. but, out of all the people that took advantage of the prices, there were real people just trying to live the "American Dream"
So we have a WAY TO BIG of a government that violates our civil rights invading our privacies yet, that same government allows for SH**T like that to happen ....
For me is not hard really to understand WHO IN THE END WINS, which is the BANKS and who loses, which is THE PEOPLE ...
Oscar
So, WHY THE F***K our magnificent financial institutions -and who ever regulates that- allowed to the prices to GO OVER THE ROOF for housing? I mean, we are talking about a REAL NECESSITY, real people with families, not Lamborghinis or banalities like that, then the same happened the other way around allowing prices to go so low that they are beyond reasonable?
I mean, is easy to point fingers on people that are defaulting their mortgages .. but, out of all the people that took advantage of the prices, there were real people just trying to live the "American Dream"
So we have a WAY TO BIG of a government that violates our civil rights invading our privacies yet, that same government allows for SH**T like that to happen ....
For me is not hard really to understand WHO IN THE END WINS, which is the BANKS and who loses, which is THE PEOPLE ...
Oscar
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... and in the end many of those GIANT institutions are moving now to invest in more "attractive" markets sucks China, India, Brazil, leaving behind now a BROKEN economy
We are all now paying the price for those 5 million dollars parties those GIANT corporations used to throw and their 500K december, "Bonuses" given to their high execs used -and still- to get paid for failing.
Oscar
We are all now paying the price for those 5 million dollars parties those GIANT corporations used to throw and their 500K december, "Bonuses" given to their high execs used -and still- to get paid for failing.
Oscar
No, not just his fault. It was the collaboration of him and the Democratic dominated congress's fault between 2008-2010, when they failed to produced a budget for each years and went on a pay-off spree.
It is inevitable when any person, family, corporation, and nation to lose their credit ratings when they over borrow and spend on things that is unnecessary.
The uncertainty and hostility towards the business sector is unheard of even with Jimmy Carter's administration. Even some of the biggest liberal supporter such as Steve Wynn are turning against the party.
We are entering a steeper recession and with Obamacare kicks in, not just me, but you NetViper as well, will be slave to other's irresponsibility, including illegal immigrants, while all the Unions and Democrats' favorites are waived from such a responsibility.
The writing is on the wall. Actually, the writing has been on the wall since 2007. I don't know why people couldn't see it.
A great article. From Yahoo, hardly a conservative website.
http://news.yahoo.com/us-aaa-rating-still-under-threat-204040123.html
If you are a liberal, these are the type of people you support which help cause the problems.
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As I have indicated, even some of the wealthy liberals are figuring out what is going on. When business owners are afraid to hire due to policies, hence preventing real tax revenue from being generated, we have a problem.
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Hi. How much did the war on iraq cost the US? Hard to spend 3 trillion and not feel it at home.
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I do agree with you on that. However, the entitlement is the main cause of the problems. The never ending unemployment benefits, union pay offs, behind the door deals with financial institutes, etc.
There are people that are not effected, like my big and little bro. Their jobs are secure and still getting raises, but it's the lower middle class of people who will be hurt the most, with higher energy cost, interest rates, commodities, etc.
To be honest with you. Optimism is what the public needs and we are not getting any from our leaders. Republicans and Democrats.
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