Just popped up on Drudge--USA TO LOSE AAA RATING?
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Gross said in an interview yesterday on Bloomberg Television that while a U.S. sovereign rating cut is “certainly nothing that’s going to happen overnight,” markets are “beginning to anticipate the possibility.” Nobel Prize-winning economist Paul Krugman, speaking in Hong Kong today, nevertheless argues it’s “hard to believe” the U.S. would ever default. Britain’s AAA rating was endangered when Standard & Poor’s yesterday lowered its outlook on the nation’s grade to “negative” from “stable,” citing a debt level approaching 100 percent of U.K. GDP. click[^] --- Turbo Geighner says he's going to bring down the deficiet :wtf:, up till today there hasn't been a bailout or social program they didn't like. I can only assume they think people are stupid... ok well I'll give them that.
kmg365 wrote:
Nobel Prize-winning economist Paul Krugman, speaking in Hong Kong today, nevertheless argues it’s “hard to believe” the U.S. would ever default.
Ummmm... "hard to believe" for whom? How many people believed that we'd sprint into the open arms of full-blown socialism? But here we are... :sigh:
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kmg365 wrote:
Nobel Prize-winning economist Paul Krugman, speaking in Hong Kong today, nevertheless argues it’s “hard to believe” the U.S. would ever default.
Ummmm... "hard to believe" for whom? How many people believed that we'd sprint into the open arms of full-blown socialism? But here we are... :sigh:
Mike Mullikin wrote:
How many people believed that we'd sprint into the open arms of full-blown socialism? But here we are...
:thumbsup::thumbsup:
Chaining ourselves to the moral high ground does not make us good guys. Aside from making us easy targets, it merely makes us idiotic prisoners of our own self loathing.
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kmg365 wrote:
Nobel Prize-winning economist Paul Krugman, speaking in Hong Kong today, nevertheless argues it’s “hard to believe” the U.S. would ever default.
Ummmm... "hard to believe" for whom? How many people believed that we'd sprint into the open arms of full-blown socialism? But here we are... :sigh:
Mike Mullikin wrote:
we'd sprint into the open arms of full-blown socialfascism?
a wee correction.
Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.
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But maybe we can replace it with a XXX rating... at least all the libertarians will still be happy! :laugh:
Chaining ourselves to the moral high ground does not make us good guys. Aside from making us easy targets, it merely makes us idiotic prisoners of our own self loathing.
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Mike Mullikin wrote:
we'd sprint into the open arms of full-blown socialfascism?
a wee correction.
Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.
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Mike Gaskey wrote:
a wee correction.
Fascism *is* socialism: 'socialism' is the umbrella-term; 'fascism' is a specific instantiation of the general.
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No wonder you people lost. You are so far into fantasyland that you can't even see the Exit();
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No wonder you people lost. You are so far into fantasyland that you can't even see the Exit();
Ed Gadziemski wrote:
Exit();
Revolution_Two();
Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.
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Ed Gadziemski wrote:
Exit();
Revolution_Two();
Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.
if (Secession()) LoseAgain();
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No wonder you people lost. You are so far into fantasyland that you can't even see the Exit();
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if (Secession()) LoseAgain();
Ed Gadziemski wrote:
if (Secession()) LoseAgain();
ah yes, but who said anything about secession? there's a not so subtle difference twixt: Seccession(); and Revolution_Two();
Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.
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No wonder you people lost. You are so far into fantasyland that you can't even see the Exit();
Ed Gadziemski wrote:
No wonder you people lost. You are so far into fantasyland that you can't even see the Exit();
They didn't lose. Ask Stan. They all voted for Obama because they knew that would make everyone want the good old days back (G.O.D. = (variously) Reagan; Coolidge; Lincoln; and Jefferson.)
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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Gross said in an interview yesterday on Bloomberg Television that while a U.S. sovereign rating cut is “certainly nothing that’s going to happen overnight,” markets are “beginning to anticipate the possibility.” Nobel Prize-winning economist Paul Krugman, speaking in Hong Kong today, nevertheless argues it’s “hard to believe” the U.S. would ever default. Britain’s AAA rating was endangered when Standard & Poor’s yesterday lowered its outlook on the nation’s grade to “negative” from “stable,” citing a debt level approaching 100 percent of U.K. GDP. click[^] --- Turbo Geighner says he's going to bring down the deficiet :wtf:, up till today there hasn't been a bailout or social program they didn't like. I can only assume they think people are stupid... ok well I'll give them that.
Like the Big One in California, the question is not whether it's going to happen; but when it is going to happen. We've been heading down this path (as has the UK and continental Europe) since the early 70's.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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Ed Gadziemski wrote:
if (Secession()) LoseAgain();
ah yes, but who said anything about secession? there's a not so subtle difference twixt: Seccession(); and Revolution_Two();
Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.
Mike Gaskey wrote:
there's a not so subtle difference twixt: Seccession(); and Revolution_Two();
Granted, but any U.S. government in power would use any method at its disposal to prevent either revolution or secession. Remember Sherman?
Sherman and U.S. Army commander, Lt. Gen. Ulysses S. Grant, believed that the Civil War would end only if the Confederacy's strategic, economic, and psychological capacity for warfare were decisively broken. Sherman therefore applied the principles of scorched earth: he ordered his troops to burn crops, kill livestock, consume supplies, and destroy civilian infrastructure along their path. This policy is often considered a component strategy of total war.
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And these ratings agencies have such high credibility. I mean, they all warned us about all those toxic assets. Didn't they? The fact that any of them are still in business is a sad reflection on the market.
John Carson
John Carson wrote:
And these ratings agencies have such high credibility. I mean, they all warned us about all those toxic assets. Didn't they? The fact that any of them are still in business is a sad reflection on the market.
I think it's obvious that the "issuer pays" model is obsolete. So is the originate and distribute model, for that matter.