Thread: S & P just lowered US debt rating

I just heard this on the news.....has anybody else heard about it? Funny how they pick the weekend to announce this......I guess to prevent panick selling LOL. Shall be an interesting monday

looks like finally the interest rate on treasuries will have to rise.....that is.....unless Bernacke plans to buy a heck of alot more treasuries LOL

It is interesting that the announcement was made on a Friday after 4 pm. Luckily, I am completely devoid of USA stocks and treasuries. My concern is still with the dollar valuation. I can only buy so many cans of fruit. The Canadians should be securing the border soon to prevent the mass exodus.

Originally Posted by dudeman

It is interesting that the announcement was made on a Friday after 4 pm. Luckily, I am completely devoid of USA stocks and treasuries. My concern is still with the dollar valuation. I can only buy so many cans of fruit. The Canadians should be securing the border soon to prevent the mass exodus.

as long as you all leave your guns there we welcome you all

Originally Posted by dudeman

It is interesting that the announcement was made on a Friday after 4 pm. Luckily, I am completely devoid of USA stocks and treasuries. My concern is still with the dollar valuation. I can only buy so many cans of fruit. The Canadians should be securing the border soon to prevent the mass exodus.

Not a chance, as we need target practice.

Beevee said, not a chance. You need to get your mounted police and military at the border soon. Forget Alaska, they probably don't even use the USA dollar already. Focus on the USA/Canada border. Going to Canada is right after committing suicide on my list of things to do if the dollar collapses. I might have too many people to shoot locally.

Originally Posted by Beevee

Not a chance, as we need target practice.

but will you be able to afford bullets ?

so where are Iriemon, Dujac, 17thandK and my other clueless budies?

Japan also has a double A rating....but at least they can borrow from their own people thus dictating what interest rate they will pay, but the US has to borrow abroad, that mean they are vulnerable to market forces and that means higher interest rates!

From their press release:

Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act. Key macroeconomic assumptions in the base case scenario include trend real GDP growth of 3% and consumer price inflation near 2% annually over the decade.

So the Republicans held the debt ceiling hostage. This would've been a ROUTINE event but the t-party just HAD to dig their trenches.

This will now cost us hundreds of BILLIONS over the next few years.

Way to go teabaggers! (*)(*)(*)(*)ing retards!