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wow, TL news is quick!
i don't think this would have an immediate effect come monday
the possibility of a US downgrade has been mostly priced in... and investors have been flocking to US treasuries like a safe haven, which it still is (for now)
but yeah, the political execution left much to be desired. it did not only call into question the US political stability and willingness to honor its debt, which are core qualities for a AAA credit rating; but it caused so much uncertainty for businesses that could have been planning to hire more people before the circus started
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Suprise suprise. The Obama administration is saying that the S&P analysis has deep and fundamental flaws and that it is "amateur hour" at the company.
I don't blame them politically since who wants to be the president when the biggest economy in the world gets downgraded.
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On August 06 2011 10:11 Stijx wrote:
I think it's the responsibility of all American citizens at this point to get informed and work out exactly who doesn't need another term. Not that that will happen of course.
It's too bad that less than half of us actually vote.
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On August 06 2011 10:01 DKR wrote:Show nested quote +On August 06 2011 09:58 On_Slaught wrote:
I hope the tea party people are happy. This.
The Tea Party is less than 20% of congress. Please don't be so naive to think that this is all the Tea Party's fault.... They're apart of the problem, but so is the rest of our government. All of them...
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Every politician in D.C. is going to be absolutely destroyed in the next election. A summer of childish behavior. Extreme partisianship. Voters are beyond angry and I definitely think a lot of incumbents will be thrown out. Lets hope that means the tea hobbits can go away finally too.
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Meh, it was bound to happen sooner or later. AA+ from AAA is actually pretty generous. I have a feeling that these ratings agencies have a (tacit) obligation to keep the ratings high just because they are American.
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I wish other countries didn't know about the tea party >.>
Bush was embarrassing enough.
This kind of post is embarrassing D:
Every politician in D.C. is going to be absolutely destroyed in the next election. A summer of childish behavior. Extreme partisianship. Voters are beyond angry and I definitely think a lot of incumbents will be thrown out. Lets hope that means the tea hobbits can go away finally too.
More likely than not the next Congress will have a larger Tea Party membership than this one does.
Hope you like getting ruled by hobbits that's the way is blowing with how horribad the Democrats are doing with independents.
People still don't understand the Tea Party, all you're doing is hamstringing your ability to fight them with your attitude. They have the money and the numbers to have a real political impact and they already did last year, they aren't going to go away just because you hold them in contempt or find them embarrassing. If you want to stop them you better figure out a way to slow them down first, the way the Left is trying to deal with them now is just speeding them up.
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On August 06 2011 10:12 EnderCraft wrote:Show nested quote +On August 06 2011 10:01 DKR wrote:On August 06 2011 09:58 On_Slaught wrote:
I hope the tea party people are happy. This. The Tea Party is less than 20% of congress. Please don't be so naive to think that this is all the Tea Party's fault.... They're apart of the problem, but so is the rest of our government. All of them...
The Tea Party is certainly to blame because they took their 20% in the house and refused to compromise in any way. They forced their agenda by refusing to play ball with their own party, let alone the democrats.
They made a political show out of what should have been a mundane task and create this entire problem. You don't need to hold the US economy hostage and risk default (while every other country in the world is trying desprately to avoid it) to get things done.
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On August 06 2011 10:01 DKR wrote:Show nested quote +On August 06 2011 09:58 On_Slaught wrote:
I hope the tea party people are happy. This.
They aren't even happy... they were all complaining and still didn't vote for the bill.
Like I'm all for small government but I'm absolutely not for bullshit sandwiches and a refusal to compromise
I think austan goolsbee's interview on the daily show earlier this week (where he was fucking ecstatic to be leaving Washington) was very telling as to how unworkable Washington is. It really seems like our country is currently run but uninformed ideologues.
USA= only country where you can use "intellectual" to slander a politician @_@
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ohh snap, guess they've seen how dysfunctional their current government system is and how a default is inevitable at the moment.
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On August 06 2011 10:12 On_Slaught wrote:
Suprise suprise. The Obama administration is saying that the S&P analysis has deep and fundamental flaws and that it is "amateur hour" at the company.
They did rate CDO junk bonds AAA...
Their track record for AAA municipal and corporate bonds are ridiculously different.
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On August 06 2011 10:13 DeepElemBlues wrote:Show nested quote +I wish other countries didn't know about the tea party >.>
Bush was embarrassing enough. This kind of post is embarrassing D:
Talking politics on the internet is pretty embarrassing in itself, it's always extremely slanted one way or the other, usually tending to be more left seeing that 68% of youth voters aged 18-26 are liberal, it's almost impossible to talk politics without raves of people blaming Bush or Obama.
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What exactly does this mean? I'm not really familiar with this stuff......anything bad for day-to-day life in the U.S. for the future?
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On August 06 2011 10:18 Deadlyhazard wrote:
What exactly does this mean? I'm not really familiar with this stuff......anything bad for day-to-day life in the U.S. for the future?
In practical terms, not much. The market's been moving for about two days already, S&P's announcement is quite late.
It's largely a symbolic gesture.
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On August 06 2011 10:18 Deadlyhazard wrote:
What exactly does this mean? I'm not really familiar with this stuff......anything bad for day-to-day life in the U.S. for the future?
higher interest on loans/mortgages, and credit cards most likely
I'm only generally familiar with the material though, i do not know the particulars
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Thanks. I'll add it immediately.
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On August 06 2011 10:19 acker wrote:Show nested quote +On August 06 2011 10:18 Deadlyhazard wrote:
What exactly does this mean? I'm not really familiar with this stuff......anything bad for day-to-day life in the U.S. for the future? In practical terms, not much. The market's been moving for about two days already, S&P's announcement is quite late. It's largely a symbolic gesture.
Thanks!!
On August 06 2011 10:20 stokes17 wrote:Show nested quote +On August 06 2011 10:18 Deadlyhazard wrote:
What exactly does this mean? I'm not really familiar with this stuff......anything bad for day-to-day life in the U.S. for the future? higher interest on loans/mortgages, and credit cards most likely I'm only generally familiar with the material though, i do not know the particulars
NOOOO I'm about to transfer to a more expensive college, I can't afford higher interest loans! Gah.
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The Tea Party is certainly to blame because they took their 20% in the house and refused to compromise in any way. They forced their agenda by refusing to play ball with their own party, let alone the democrats.
The Democratic Party is certainly to blame because they took their Congressional majorities and refused to even introduce a budget bill to negotiate on for over 600 days. They forced their agenda (manufacture a crisis) by refusing to even bring the ball to the playground, all so they could blame any negative consequences from this brinksmanship on Tea Party intransigence.
Well they got their crisis, too bad they misunderestimated what the results would be.
USA= only country where you can use "intellectual" to slander a politician @_@
In other countries they use other terms to mean the same thing.
USA = only country with so many intellectual achievements that is generally viewed as stupid.
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Does anyone have a good, objective source for general info about the whole debt crisis and negotiations?? i've only vaguely followed it, but it's kind of hard with the games going on on both sides
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EPT
