lawrocket 3 #1 August 6, 2011 Pshaw. The Obama admin just came out and said that S&P fucked up. "This is a facts-be-damned decision," the official said. "Their analysis was way off, but they wouldn't budge." I take it that S&P better raise that credit rating or a whole big can of whoop ass will be opened up on their ass. A debt to GDP ration of one and climbing is a sign of healthy long term prospects. If S&P knows what"s good for it, it will find that birrowing to service debt is the best thing that can be done. My wife is hotter than your wife. Quote Share this post Link to post Share on other sites
Rookie120 0 #2 August 6, 2011 Monday will be interesting to watch the markets. I hope they dont freak but I highly doubt it.If you find yourself in a fair fight, your tactics suck! Quote Share this post Link to post Share on other sites
Marisan 0 #3 August 6, 2011 Well, now we're all fucked Quote Share this post Link to post Share on other sites
devildog 0 #4 August 6, 2011 QuoteMonday will be interesting to watch the markets. I hope they dont freak but I highly doubt it.Market has been anticipating this for a bit now. Read a few good commentaries that the impact might not be as bad as others are forecasting due to this.You stop breathing for a few minutes and everyone jumps to conclusions. Quote Share this post Link to post Share on other sites
Frankyspanky 0 #5 August 6, 2011 QuoteWe all knew it was coming, so no huge surprise. "If the US Government was a family, they would be making $58,000 a year, they spend $75,000 a year, & are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget & debt, reduced to a level that we can understand." - Dave RamseyBack a hundred years ago, especially around Woodrow Wilson, what happened in this country is we took freedom and we chopped it into pieces. Ron Paul Quote Share this post Link to post Share on other sites
GQ_jumper 4 #6 August 6, 2011 QuoteQuoteWe all knew it was coming, so no huge surprise. "If the US Government was a family, they would be making $58,000 a year, they spend $75,000 a year, & are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget & debt, reduced to a level that we can understand." - Dave Ramsey I like that take on the whole scenario. Maybe this will be the wakeup that people need to realize that we all need to make sacrifices across the board to get out of this mess. Its not just the government overspending, its also fueled by us voters supporting anyone who finds a creative way to give us more money, whether it be tax breaks, or spending programs. I've given 12 years and counting to the military and I'm facing a severe cut in my retirement, where is everyone else stepping up to make a sacrifice?History does not long entrust the care of freedom to the weak or the timid. --Dwight D. Eisenhower Quote Share this post Link to post Share on other sites
dreamdancer 0 #7 August 6, 2011 QuoteI've given 12 years and counting to the military and I'm facing a severe cut in my retirement, where is everyone else stepping up to make a sacrifice? certainly not the rich - who have taken their lovely tax cuts (several trillion worth), are the richest they have ever been in human history, and are laughing all the way to the bank...stay away from moving propellers - they bite blue skies from thai sky adventures good solid response-provoking keyboarding Quote Share this post Link to post Share on other sites
GQ_jumper 4 #8 August 6, 2011 QuoteQuoteI've given 12 years and counting to the military and I'm facing a severe cut in my retirement, where is everyone else stepping up to make a sacrifice? certainly not the rich - who have taken their lovely tax cuts (several trillion worth), are the richest they have ever been in human history, and are laughing all the way to the bank... I agree in part. Yes the rich have gotten some lovely tax cuts, but the burden should be shouldered by all of us. They pay quite a bit of the taxes in this country, but if they take a tax hike, those of us on the lower end should have to give more as well. Its all of our country, and all of our problem, not just for the rich to fix.History does not long entrust the care of freedom to the weak or the timid. --Dwight D. Eisenhower Quote Share this post Link to post Share on other sites
dreamdancer 0 #9 August 6, 2011 QuoteQuoteQuoteI've given 12 years and counting to the military and I'm facing a severe cut in my retirement, where is everyone else stepping up to make a sacrifice? certainly not the rich - who have taken their lovely tax cuts (several trillion worth), are the richest they have ever been in human history, and are laughing all the way to the bank... I agree in part. Yes the rich have gotten some lovely tax cuts, but the burden should be shouldered by all of us. They pay quite a bit of the taxes in this country, but if they take a tax hike, those of us on the lower end should have to give more as well. Its all of our country, and all of our problem, not just for the rich to fix. they've got most of the money - so it's mostly their problem...stay away from moving propellers - they bite blue skies from thai sky adventures good solid response-provoking keyboarding Quote Share this post Link to post Share on other sites
lost_n_confuzd 0 #10 August 6, 2011 QuoteQuoteQuoteQuoteI've given 12 years and counting to the military and I'm facing a severe cut in my retirement, where is everyone else stepping up to make a sacrifice? certainly not the rich - who have taken their lovely tax cuts (several trillion worth), are the richest they have ever been in human history, and are laughing all the way to the bank... I agree in part. Yes the rich have gotten some lovely tax cuts, but the burden should be shouldered by all of us. They pay quite a bit of the taxes in this country, but if they take a tax hike, those of us on the lower end should have to give more as well. Its all of our country, and all of our problem, not just for the rich to fix. they've got most of the money - so it's mostly their problem... Negatory, GQ. Its all our problem. We are not in this mess because the rich failed to pay enough in taxes, we're here because the government, translated to us - the people, spent more than we made. Here a few ideas I have for reducing how much we spend: 1) Legalize pot - state and local funds that fight pot could be directed towards programs that would normally receive federal funding. Stop the federal funding toward those programs since funding now comes from state/local funds. 2) Military - reduce the number of troops in the total force. Do NOT sacrifice R&D. Gov't employees and military do not need the high per diem rates they get now for travel, etc... 3) Higher taxes - a one or two percent increase will go far. 4) Higher fines - increase fines for eveything from speeding tickets to court fees. This money can go towards state/local programs that would normally receive federal funding. Stop the federal funding toward those programs since funding now comes from state/local funds. 5) Government Employees - Pay for their own public transportation/metro passes like everyone else. Reduce manpower across the board. Instead of buying flatscreens TVs with end-of-year fiscal funds, send it back. It may not seem like much, but it is. Especially the #1. Quote Share this post Link to post Share on other sites
tkhayes 125 #11 August 6, 2011 I could give a shit about the S&P and the downgrade - this is supposed to work just this way. bad credit, you get a bad score. The US has been riding a political score for some time now, and now it is time to face the music - I expect more bad news in 6-12 months in that dept. Maybe the govt will wake up, maybe not. Maybe the PEOPLE will wake up, maybe not. We choose 'capitalism' when it suits us, every man for himself, take responsibility, no social programs etc. Then the capitalists take socialism whenever it suits them, bailouts and such, which never should have happened either. Those fuckers should have been left to ruins when it all crashed - they would have been sold off along with GM for pennies on the dollar and we would have recovered faster than ever. Quote Share this post Link to post Share on other sites
hwt 0 #12 August 6, 2011 The tea party warned about this...Lets review the debt talks... The Democrats. !. No Budget in three years 2. Harry Reid shelved both bills and came out with a bullshit plan. The Republicans passed 2 bills !. The Ryan plan ( balanced budget amendment ) 2. cut cap and balance. Bottom line... Obama is a one term president and the Tea Party is going to be a real force in 2012. WE will also see a reduction is socialism Quote Share this post Link to post Share on other sites
StreetScooby 5 #13 August 6, 2011 Quote Well, now we're all fucked In the short term, because of this downgrade, not really. There was a huge flight of money into US government bonds on Friday. We're still the safest bond, and the world knows it. An awful lot of that perceived safety is directly related to all of our aircraft carriers. If the Obama administration policies are carried to completion (e.g., Obamacare), then we're going to be in trouble. We're borrowing an enormous amount of money, alot of it on short terms. As soon as the interest rates start going up, and they will, our interest payments are going to explode as we have to continue rolling over debt.We are all engines of karma Quote Share this post Link to post Share on other sites
dreamdancer 0 #14 August 6, 2011 QuoteAn awful lot of that perceived safety is directly related to all of our aircraft carriers. which the chinese are paying for...stay away from moving propellers - they bite blue skies from thai sky adventures good solid response-provoking keyboarding Quote Share this post Link to post Share on other sites
StreetScooby 5 #15 August 6, 2011 Quote Those fuckers should have been left to ruins when it all crashed - they would have been sold off along with GM for pennies on the dollar and we would have recovered faster than ever. Agreed. This would shine a whole new light on what it means for due diligence with respect to counterparty risk.We are all engines of karma Quote Share this post Link to post Share on other sites
StreetScooby 5 #16 August 6, 2011 Quote which the chinese are paying for... Last I looked, China owns about $2T of our $14T debt.We are all engines of karma Quote Share this post Link to post Share on other sites
StreetScooby 5 #17 August 6, 2011 Quote Obama is a one term president and the Tea Party is going to be a real force in 2012. Let's hope that Obama is gone, and we have representatives that emphasize fiscal responsibility. Not only do we have to get our deficit under control, we need to pay back over $14T dollars. Quote WE will also see a reduction is socialism Liberals have confused "the right to pursue" goods with "the right to" goods. True rights are those that don't cost other people's money. Our government should focus on providing a framework for markets to work. Everyone should have an opportunity to get a job, based upon their merits. First and foremost, your responsibility to society should be trying to take care of yourself and your family.We are all engines of karma Quote Share this post Link to post Share on other sites
lawrocket 3 #18 August 6, 2011 I don't blame Obama for this. I blame Congress. Period. And it's not just this Congress. Or the Pelosi Congress. But the GOP led fuckups who continued to increase spending. NO spending can be reigned in without massive changes to Medicare, Social Security, Medicaid and SCHIP and defense. Medicare and Social Security are the big dogs in the future that have to be cut. Period. And enough of this bullshit about the rich being richer. Take a look at the Fortune 500 list. Bill Gates and Warren Bufet lost half their worths. It's just another one of those arguments about the rich richer and the poor poorer. It's also an argument made by those who are bad at math. Liquidating the Fortune 100 wouldn't balance the budget this year, much less taxing them. My wife is hotter than your wife. Quote Share this post Link to post Share on other sites
StreetScooby 5 #19 August 6, 2011 Quote I don't blame Obama for this. I blame Congress. Period. And it's not just this Congress. Or the Pelosi Congress. But the GOP led fuckups who continued to increase spending. NO spending can be reigned in without massive changes to Medicare, Social Security, Medicaid and SCHIP and defense. Medicare and Social Security are the big dogs in the future that have to be cut. Period. And enough of this bullshit about the rich being richer. Take a look at the Fortune 500 list. Bill Gates and Warren Bufet lost half their worths. It's just another one of those arguments about the rich richer and the poor poorer. It's also an argument made by those who are bad at math. Liquidating the Fortune 100 wouldn't balance the budget this year, much less taxing them. Agreed.We are all engines of karma Quote Share this post Link to post Share on other sites
dreamdancer 0 #20 August 6, 2011 QuoteIn a harshly-worded commentary by the official Xinhua news agency, China gave its first official comments on the United States losing its gilded AAA long-term credit rating. "China, the largest creditor of the world's sole superpower, has every right now to demand the United States address its structural debt problems and ensure the safety of China's dollar assets," Xinhua said. China also urged the United States to apply "common sense" to "cure its addiction to debts" by cutting military. http://www.telegraph.co.uk/news/worldnews/asia/china/8685655/China-blasts-US-debt-addiction-and-calls-for-new-global-stable-reserve-currency.htmlstay away from moving propellers - they bite blue skies from thai sky adventures good solid response-provoking keyboarding Quote Share this post Link to post Share on other sites
DanJohnson 0 #21 August 6, 2011 ***Social Security are the big dogs in the future that have to be cut. Period. Quote Hold on one second! A lot of people paid the government for Social Security Insurance. If the government misallocated their funds the insured shouldn't be the ones who get screwed! Social Security is an *entitlement* as those who paid in are *entitled * to their payout. Quote Share this post Link to post Share on other sites dreamdancer 0 #22 August 6, 2011 QuoteThe Tadawul All-Shares Index closed down 350.43 points 6,073.44 as all shares tumbled following a tumultous week for global markets which was capped by Standard & Poor's cutting the US credit rating over its $14.3 trillion deficit and debt. "The S&P rating and problems in Europe... have scared investors," said financial analyst Abdulwahab Abu Dahesh. The Saudi market was the first to react globally to the S&P statement late on Friday, with the start of the trading week in Saudi Arabia, while all other markets remained shut for the weekend. Analysts expect markets in Asia and Europe to follow the Tadawul lower on Monday. "Saudi shares have reacted to two events: sharp drops on Thursday in markets, especially oil, and the S&P cut of the US rating," economist Mohammed al-Omran told Al-Arabiya news channel. http://www.telegraph.co.uk/finance/financialcrisis/8686045/Saudi-stock-market-first-to-plunge-on-SandP-downgrade.htmlstay away from moving propellers - they bite blue skies from thai sky adventures good solid response-provoking keyboarding Quote Share this post Link to post Share on other sites DanJohnson 0 #23 August 6, 2011 .*** I've given 12 years and counting to the military and I'm facing a severe cut in my retirement,Quote Well thank you! Not for being in the military but for taking the retirement cut. Risk your life for a few bucks and then don't even get what you were promised/ contracted for. Of course you didn't really perform. You haven't won the war. But the bankers got the bailout/ fraud buy back they needed to stay out of jail so all is good. By the way.., on the upside you should have plenty of work in the upcoming years as we are gonna have to start a whole lot more wars to improve our credit rating. Quote Share this post Link to post Share on other sites GQ_jumper 4 #24 August 6, 2011 QuoteQuoteQuoteQuoteI've given 12 years and counting to the military and I'm facing a severe cut in my retirement, where is everyone else stepping up to make a sacrifice? certainly not the rich - who have taken their lovely tax cuts (several trillion worth), are the richest they have ever been in human history, and are laughing all the way to the bank... We all enjoy the benefits of being citizens, therefore we all shoulder the burden. The tax already shoulder the largest burden in the country with regards to taxes, and if we all take a tax hike across the board they are going to have the largest increase still. So blanket statements like tax the rich do nothing to solve our problem. We need to get rid of ALL the tax cuts and stop trying to nickel and dime our way out of this. All the deductions for having kids, and writing off housing expenses, and finding ways to turn everything into a work expense, etc etc. Pay the tax rate and quit trying to find loopholes to get your money back. We can't just say this is the problem of the rich when the poor don't pay a thing, everyone needs to step up and pitch in, from the rich down. I agree in part. Yes the rich have gotten some lovely tax cuts, but the burden should be shouldered by all of us. They pay quite a bit of the taxes in this country, but if they take a tax hike, those of us on the lower end should have to give more as well. Its all of our country, and all of our problem, not just for the rich to fix. they've got most of the money - so it's mostly their problem...History does not long entrust the care of freedom to the weak or the timid. --Dwight D. Eisenhower Quote Share this post Link to post Share on other sites GQ_jumper 4 #25 August 6, 2011 Quote.*** I've given 12 years and counting to the military and I'm facing a severe cut in my retirement,Quote Well thank you! Not for being in the military but for taking the retirement cut. Risk your life for a few bucks and then don't even get what you were promised, contracted for. Of course you didn't really perform. You haven't won the war. But the bankers got the bailout/ fraud buy back they needed to stay out of jail so all is good. By the way.., on the upside you should have plenty of work in the upcoming years as we are gonna have to start a whole lot more wars to improve our credit rating. I'm going to assume that was meant to be satirical.History does not long entrust the care of freedom to the weak or the timid. --Dwight D. Eisenhower Quote Share this post Link to post Share on other sites Prev 1 2 3 4 5 Next Page 1 of 5 Join the conversation You can post now and register later. If you have an account, sign in now to post with your account. Note: Your post will require moderator approval before it will be visible. Reply to this topic... × Pasted as rich text. Paste as plain text instead Only 75 emoji are allowed. × Your link has been automatically embedded. Display as a link instead × Your previous content has been restored. Clear editor × You cannot paste images directly. Upload or insert images from URL. Insert image from URL × Desktop Tablet Phone Submit Reply 0 Go To Topic Listing
dreamdancer 0 #22 August 6, 2011 QuoteThe Tadawul All-Shares Index closed down 350.43 points 6,073.44 as all shares tumbled following a tumultous week for global markets which was capped by Standard & Poor's cutting the US credit rating over its $14.3 trillion deficit and debt. "The S&P rating and problems in Europe... have scared investors," said financial analyst Abdulwahab Abu Dahesh. The Saudi market was the first to react globally to the S&P statement late on Friday, with the start of the trading week in Saudi Arabia, while all other markets remained shut for the weekend. Analysts expect markets in Asia and Europe to follow the Tadawul lower on Monday. "Saudi shares have reacted to two events: sharp drops on Thursday in markets, especially oil, and the S&P cut of the US rating," economist Mohammed al-Omran told Al-Arabiya news channel. http://www.telegraph.co.uk/finance/financialcrisis/8686045/Saudi-stock-market-first-to-plunge-on-SandP-downgrade.htmlstay away from moving propellers - they bite blue skies from thai sky adventures good solid response-provoking keyboarding Quote Share this post Link to post Share on other sites
DanJohnson 0 #23 August 6, 2011 .*** I've given 12 years and counting to the military and I'm facing a severe cut in my retirement,Quote Well thank you! Not for being in the military but for taking the retirement cut. Risk your life for a few bucks and then don't even get what you were promised/ contracted for. Of course you didn't really perform. You haven't won the war. But the bankers got the bailout/ fraud buy back they needed to stay out of jail so all is good. By the way.., on the upside you should have plenty of work in the upcoming years as we are gonna have to start a whole lot more wars to improve our credit rating. Quote Share this post Link to post Share on other sites GQ_jumper 4 #24 August 6, 2011 QuoteQuoteQuoteQuoteI've given 12 years and counting to the military and I'm facing a severe cut in my retirement, where is everyone else stepping up to make a sacrifice? certainly not the rich - who have taken their lovely tax cuts (several trillion worth), are the richest they have ever been in human history, and are laughing all the way to the bank... We all enjoy the benefits of being citizens, therefore we all shoulder the burden. The tax already shoulder the largest burden in the country with regards to taxes, and if we all take a tax hike across the board they are going to have the largest increase still. So blanket statements like tax the rich do nothing to solve our problem. We need to get rid of ALL the tax cuts and stop trying to nickel and dime our way out of this. All the deductions for having kids, and writing off housing expenses, and finding ways to turn everything into a work expense, etc etc. Pay the tax rate and quit trying to find loopholes to get your money back. We can't just say this is the problem of the rich when the poor don't pay a thing, everyone needs to step up and pitch in, from the rich down. I agree in part. Yes the rich have gotten some lovely tax cuts, but the burden should be shouldered by all of us. They pay quite a bit of the taxes in this country, but if they take a tax hike, those of us on the lower end should have to give more as well. Its all of our country, and all of our problem, not just for the rich to fix. they've got most of the money - so it's mostly their problem...History does not long entrust the care of freedom to the weak or the timid. --Dwight D. Eisenhower Quote Share this post Link to post Share on other sites GQ_jumper 4 #25 August 6, 2011 Quote.*** I've given 12 years and counting to the military and I'm facing a severe cut in my retirement,Quote Well thank you! Not for being in the military but for taking the retirement cut. Risk your life for a few bucks and then don't even get what you were promised, contracted for. Of course you didn't really perform. You haven't won the war. But the bankers got the bailout/ fraud buy back they needed to stay out of jail so all is good. By the way.., on the upside you should have plenty of work in the upcoming years as we are gonna have to start a whole lot more wars to improve our credit rating. I'm going to assume that was meant to be satirical.History does not long entrust the care of freedom to the weak or the timid. --Dwight D. Eisenhower Quote Share this post Link to post Share on other sites Prev 1 2 3 4 5 Next Page 1 of 5 Join the conversation You can post now and register later. If you have an account, sign in now to post with your account. Note: Your post will require moderator approval before it will be visible. Reply to this topic... × Pasted as rich text. Paste as plain text instead Only 75 emoji are allowed. × Your link has been automatically embedded. Display as a link instead × Your previous content has been restored. Clear editor × You cannot paste images directly. Upload or insert images from URL. Insert image from URL × Desktop Tablet Phone Submit Reply 0 Go To Topic Listing
GQ_jumper 4 #24 August 6, 2011 QuoteQuoteQuoteQuoteI've given 12 years and counting to the military and I'm facing a severe cut in my retirement, where is everyone else stepping up to make a sacrifice? certainly not the rich - who have taken their lovely tax cuts (several trillion worth), are the richest they have ever been in human history, and are laughing all the way to the bank... We all enjoy the benefits of being citizens, therefore we all shoulder the burden. The tax already shoulder the largest burden in the country with regards to taxes, and if we all take a tax hike across the board they are going to have the largest increase still. So blanket statements like tax the rich do nothing to solve our problem. We need to get rid of ALL the tax cuts and stop trying to nickel and dime our way out of this. All the deductions for having kids, and writing off housing expenses, and finding ways to turn everything into a work expense, etc etc. Pay the tax rate and quit trying to find loopholes to get your money back. We can't just say this is the problem of the rich when the poor don't pay a thing, everyone needs to step up and pitch in, from the rich down. I agree in part. Yes the rich have gotten some lovely tax cuts, but the burden should be shouldered by all of us. They pay quite a bit of the taxes in this country, but if they take a tax hike, those of us on the lower end should have to give more as well. Its all of our country, and all of our problem, not just for the rich to fix. they've got most of the money - so it's mostly their problem...History does not long entrust the care of freedom to the weak or the timid. --Dwight D. Eisenhower Quote Share this post Link to post Share on other sites
GQ_jumper 4 #25 August 6, 2011 Quote.*** I've given 12 years and counting to the military and I'm facing a severe cut in my retirement,Quote Well thank you! Not for being in the military but for taking the retirement cut. Risk your life for a few bucks and then don't even get what you were promised, contracted for. Of course you didn't really perform. You haven't won the war. But the bankers got the bailout/ fraud buy back they needed to stay out of jail so all is good. By the way.., on the upside you should have plenty of work in the upcoming years as we are gonna have to start a whole lot more wars to improve our credit rating. I'm going to assume that was meant to be satirical.History does not long entrust the care of freedom to the weak or the timid. --Dwight D. Eisenhower Quote Share this post Link to post Share on other sites Prev 1 2 3 4 5 Next Page 1 of 5 Join the conversation You can post now and register later. If you have an account, sign in now to post with your account. Note: Your post will require moderator approval before it will be visible. Reply to this topic... × Pasted as rich text. Paste as plain text instead Only 75 emoji are allowed. × Your link has been automatically embedded. Display as a link instead × Your previous content has been restored. Clear editor × You cannot paste images directly. Upload or insert images from URL. Insert image from URL × Desktop Tablet Phone Submit Reply 0
