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U.S. loses AAA credit rating from S&P [copy 2]
Yahoo ^ | 8/5/11 | Walter Brandimarte - Reuters

Posted on 08/05/2011 5:51:56 PM PDT by NormsRevenge

NEW YORK (Reuters) - The United States lost its top-notch AAA credit rating from Standard & Poor's on Friday, in a dramatic reversal of fortune for the world's largest economy.

S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about growing budget deficits.

U.S. Treasuries, once undisputedly seen as the safest investment in the world, are now rated lower than bonds issued by countries such as the UK, Germany, France or Canada.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Business/Economy; Foreign Affairs; Front Page News; Government; Miscellaneous; Politics/Elections
KEYWORDS: aaa; aaplus; bachmann; credit; creditrating; cutcapbalance; debt; debtceiling; debtlimit; downgrade; economy; geithner; loses; obama; obamanomics; palin; rating; standardpoors; treasury; triplea; usa2aa
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1 posted on 08/05/2011 5:51:56 PM PDT by NormsRevenge
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To: NormsRevenge

First time in American History too..that’s hope and change for ya


2 posted on 08/05/2011 5:52:24 PM PDT by Sarah Barracuda
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To: Sarah Barracuda

Wow. We’re blazing new territory here, for sure.
Change?

We’ll see .. Hope so.


3 posted on 08/05/2011 5:53:36 PM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard .. Obama: Epic Fail or Bust!!!)
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To: NormsRevenge
Sorry....There's still no reason to lower it.

I say Geither resigns on Monday.

4 posted on 08/05/2011 5:53:57 PM PDT by Sacajaweau
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To: NormsRevenge

Hopey changey.


5 posted on 08/05/2011 5:54:25 PM PDT by Cringing Negativism Network (We are not tea partiers ... we are good tea partiers. Life-long tea partiers)
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To: NormsRevenge

Raise the ceiling....raise the ceiling.....and everything will be fine...said Obama and team....


6 posted on 08/05/2011 5:54:54 PM PDT by Sacajaweau
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To: Sarah Barracuda
First time in American History too..that’s hope and change for ya

watchoosay. "hope" for America's mortal enemies.

I keep seeing conflicting headlines on this, though. S&P was supposed to "reconsider" just a few minutes ago.

S&P Reconsiders U.S. Rating Downgrade, Unidentified Official Tells CNN By John Detrixhe - Aug 5, 2011 7:55 PM ET

7 posted on 08/05/2011 5:54:59 PM PDT by _a_0_0_
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To: Sarah Barracuda

The Administration already put out a disclaimer saying that it happened because of the lack of tax increases and the Tea Party. I guess the Tea Party is the new “Bush”. Everything up to the election will be their fault.


8 posted on 08/05/2011 5:55:12 PM PDT by marstegreg
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To: Sacajaweau
I say Geither resigns on Monday.

Fer sure, he's out, Corzine's in. That was a done deal a few days ago, I think.

9 posted on 08/05/2011 5:56:04 PM PDT by _a_0_0_
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To: NormsRevenge

We have mental midgets running this place!


10 posted on 08/05/2011 5:56:14 PM PDT by Cheetahcat ( November 4 2008 ,A date that will live in Infamy.)
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To: NormsRevenge

Okay. Now we can stop fooling ourselves and start doing something about it.


11 posted on 08/05/2011 5:56:34 PM PDT by dhs12345
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


12 posted on 08/05/2011 5:56:50 PM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: marstegreg

Yep..everything is Bush’s fault..yet incidentally this did NOT happen when Bush was President..at the worst time in Bush’s Presidency this did not happen yet it happened on Obama’s watch..can someone explain to me since I am not very familiar with this at all, what does this exactly mean


13 posted on 08/05/2011 5:56:56 PM PDT by Sarah Barracuda
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To: Sacajaweau

Proof half the government and most of the bureaucracy have got to go. The Thoroughbred has been dragged down by its commie parasites for the first time in its history.


14 posted on 08/05/2011 5:56:59 PM PDT by txhurl (Did you want to talk or fish?)
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To: NormsRevenge

Doing some invitations to the hip hop birthday bash...plus, like the Dear Leader says: “markets go up, and then they go down”.


15 posted on 08/05/2011 5:57:16 PM PDT by corlorde (New Hampshire)
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


16 posted on 08/05/2011 5:57:54 PM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: NormsRevenge

17 posted on 08/05/2011 5:58:26 PM PDT by twister881
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To: NormsRevenge

So who gets the AAA rating?


18 posted on 08/05/2011 5:58:28 PM PDT by Mr Ramsbotham (Laws against sodomy are honored in the breech.)
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To: NormsRevenge

They did it on a Friday after the markets closed trying to mitigate any negative market reaction.


19 posted on 08/05/2011 5:58:56 PM PDT by tobyhill (Real Spending Cuts Don't Require Increasing The Debt)
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To: txhurl

I’m sure we can spend our way right out of it...oh wait...


20 posted on 08/05/2011 5:59:48 PM PDT by corlorde (New Hampshire)
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To: marstegreg

I guess the Tea Party is the new “Bush”. Everything up to the election will be their fault.


And ALL the hurricanes will now be the TEA party’s fault.


21 posted on 08/05/2011 6:00:31 PM PDT by txhurl (Did you want to talk or fish?)
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To: _a_0_0_

I read your link twice and I still can’t figure out what they are trying to say. is j&p reconsidering the AAA rating or are they reconsidering the AA+ rating?


22 posted on 08/05/2011 6:00:53 PM PDT by mamelukesabre (Si Vis Pacem Para Bellum (If you want peace prepare for war))
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To: NormsRevenge
Maybe Boner can shreik "Get your asses in line!" to S&P like he did at the tea party, and make things all better.

Sure worked when he wanted to increase the cumulative debt of the United States, along with the Democrats.

The tea party were the only adults in the room wanting deep cuts in spending.

23 posted on 08/05/2011 6:01:00 PM PDT by RegulatorCountry
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To: NormsRevenge

Another “Historic” first for this president.

and another piece of news slipped in on a Friday night


24 posted on 08/05/2011 6:01:26 PM PDT by PMAS
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To: Mr Ramsbotham

Zimbabwe


25 posted on 08/05/2011 6:01:40 PM PDT by tobyhill (Real Spending Cuts Don't Require Increasing The Debt)
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To: Cheetahcat
We have mental midgets running this place!

Oh, now. Geithner went to the Right Schools.

26 posted on 08/05/2011 6:02:37 PM PDT by RegulatorCountry
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To: dhs12345

Even the Post Office is going belly up.


27 posted on 08/05/2011 6:02:56 PM PDT by Ciexyz
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To: Mr Ramsbotham

there are 17 nations with AAA ratings. one ratings agency has downgraded the US to AA+. There are 3 ratings agencies.


28 posted on 08/05/2011 6:03:11 PM PDT by mamelukesabre (Si Vis Pacem Para Bellum (If you want peace prepare for war))
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To: mamelukesabre

http://blogs.wsj.com/marketbeat/2011/08/05/sp-downgrades-u-s-debt-rating-press-release/

Update


29 posted on 08/05/2011 6:03:59 PM PDT by MissyMa
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To: RegulatorCountry

“We have mental midgets running this place!

Oh, now. Geithner went to the Right Schools.”

LMAO, we found the problem.


30 posted on 08/05/2011 6:04:15 PM PDT by Cheetahcat ( November 4 2008 ,A date that will live in Infamy.)
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To: NormsRevenge

Methinks Monday will be a bear. Is the sky falling yet?


31 posted on 08/05/2011 6:04:27 PM PDT by upchuck (ANY plan that spreads cuts over 10 years is a canard. Cut NOW, not in ten years. 1% plan is a winner)
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To: mamelukesabre
They're still running that headline, too, as I just posted on the other thread.

I take it that this is old news that BBerg drones are recycling. The "Non-Stop News" feature of their website does that. It can be very confusing when events are moving fast, as, uh, they seem to be here on this hot August night.

32 posted on 08/05/2011 6:05:43 PM PDT by _a_0_0_
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To: NormsRevenge

Now, what are the homosexual, “we are not in the 1800’s” cool aid liberal drinking preachers are going to say, calling us all by the N word because we are so evil, christian, right wing, Tparty backward, antiprogressist, Obama hating, terrorists” going to say.

Yeah, I know the answer, I know these types of people. They will say: hang yourselves, we should all hang ourselves in shame.

Watch them. We are listening to drunks who are persuading America to let them and their government union fat slobs drive the car.


33 posted on 08/05/2011 6:06:08 PM PDT by JudgemAll (Democrats Fed. job-security Whorocracy & hate:hypocrites must be gay like us or be tested/crucified)
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To: Sarah Barracuda

It means that EVERYTHING that Obama wanted in the “debt ceiling” deal, he got - even though the Democrats keep moaning and groaning that they had to give up too much. They gave up NOTHING. Just in one day (as Rush explained today) Treasury has borrowed a huge chunk out of the debt ceiling agreement, about a third of all the “savings” that are supposed to be enacted over a TEN YEAR period (a crock that!). At that rate, the new “debt ceiling” will be reached in no time. Obama is like a kid in a candy store with his dad’s credit card and on a hyper sugar high.


34 posted on 08/05/2011 6:06:47 PM PDT by Twinkie (Is Obama using the Cloward-Piven Strategy?!? Yea or Nay?)
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To: Sarah Barracuda

It means we get to spend another 70 billion a year in additional interest payments on the debt as our cost to borrow will increase by about 1/2% because of the lower rating on our US treasury bonds. I am waiting to see how Obama spins this additional spending on our debt service as a jobs creator.


35 posted on 08/05/2011 6:06:55 PM PDT by chuckee
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To: NormsRevenge

Anyway, it’s a funny kind of irony. Remember how much heat those bozos in congress gave these guys for “selling ratings” on structureds? They demanded that they toe the line on ratings and, uhhh, apparently they are. God bless you, S&P. That took some backbone. Probably long overdue.


36 posted on 08/05/2011 6:08:36 PM PDT by _a_0_0_
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To: Twinkie

Oh. . and I forgot, we just HAD to raise the debt ceiling so that we would keep our AAA credit rating. - You see how that went. I’m sick of being lied to.


37 posted on 08/05/2011 6:08:58 PM PDT by Twinkie (Is Obama using the Cloward-Piven Strategy?!? Yea or Nay?)
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To: Sarah Barracuda
It means a few guys with some hedge funds just made a killing buying protection on US Debt.

Wonder who they are....

38 posted on 08/05/2011 6:09:36 PM PDT by _a_0_0_
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To: Cheetahcat

So called optimists are in fact cool aid drinkers at the bottom. Doom and gloom is not for patriots, of course, but there is a difference between true people of character/vision and blind optimist fools on welfare.


39 posted on 08/05/2011 6:09:36 PM PDT by JudgemAll (Democrats Fed. job-security Whorocracy & hate:hypocrites must be gay like us or be tested/crucified)
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To: Ciexyz
I know. Time to make the tough decisions. Apparently, the PO can't sustain itself.

Raise postage rates, reorganize, streamline and improve efficiency.

Really sad to see people (good people) lose their jobs, though. But it isn't fair to the taxpayers... who have had their benefits slashed, lost their jobs, etc.

40 posted on 08/05/2011 6:10:30 PM PDT by dhs12345
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To: Sarah Barracuda

McConnell, McCain and Boner should be proud. They defeated the “terrorists” who wanted to cut spending. What asses.


41 posted on 08/05/2011 6:12:02 PM PDT by SaraJohnson
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To: _a_0_0_

Hmmm, getting losing us the AAA rating is terrorism, basicaly... so, now, who is a terrorist, those who made that secret hedge profit, eh? Could it be Sorros’ buddies in China or Russia, perhaps? Through the post Sorros “philantropic” fronts?

Oh, if you are a Tparty saavy person or a jew, they might point the finger at you, by the way... so cool, you know, and convenient.


42 posted on 08/05/2011 6:13:22 PM PDT by JudgemAll (Democrats Fed. job-security Whorocracy & hate:hypocrites must be gay like us or be tested/crucified)
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To: _a_0_0_
Corzine did such a bang-up job in NJ I can hardly wait to see what he does to the entire country.
43 posted on 08/05/2011 6:13:44 PM PDT by JPG (Yes She Can!)
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To: SaraJohnson

All three of them are a bunch of pansies(I wanted to describe them a different way trust me) if they had just listened to us tea party “Terrorists” none of this would have happened. But no, can’t expect some of the RINOS in the GOP to actually do the right thing..but either way, Obamadork is President, its HIS fault..damn and I thought Carter was the worst President ever..this guy tops him


44 posted on 08/05/2011 6:14:35 PM PDT by Sarah Barracuda
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To: JudgemAll

It might also be prudent to ask who sold the protection, and who is going to bail them out.


45 posted on 08/05/2011 6:14:35 PM PDT by _a_0_0_
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To: tobyhill
The really sinister part of all of this, knowing how corrupt the ruling class is, of which S&P is a member, all the “right” people knew about this hours before the rest of us. So they were able to get their inverse ETFs and put options in place well before market close and kept silent during after market hours so out and out panic would not set in. I would also have to guess someone at S&P gave Buffett, Soros and other a quick heads up so they could get their ducks in a row. Sorry, I'm just cynical about the markets these days with all the shenanigans going on.
46 posted on 08/05/2011 6:15:48 PM PDT by cashless (Unlike Obama and his supporters, I'd rather be a TEA BAGGER than a TEA BAGGEE.)
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To: chuckee

What it means is also we have an inflation spiral starting. Since the government is going to be the sole one getting the money, the higher the prices.

ANd,, furthermore, the higher the prices, the lesser the future return as time goes by, and, thus, the higher the prices will be set. So, that means martial law and government tickets enforced at the tip of the government bayonet, killing us all? Hmmm

Wow, fantastic, just fantastic.


47 posted on 08/05/2011 6:16:34 PM PDT by JudgemAll (Democrats Fed. job-security Whorocracy & hate:hypocrites must be gay like us or be tested/crucified)
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To: JudgemAll

“So called optimists are in fact cool aid drinkers at the bottom. Doom and gloom is not for patriots, of course, but there is a difference between true people of character/vision and blind optimist fools on welfare.”

Nice post.


48 posted on 08/05/2011 6:17:33 PM PDT by Cheetahcat ( November 4 2008 ,A date that will live in Infamy.)
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To: NormsRevenge

Damn Obama


49 posted on 08/05/2011 6:18:21 PM PDT by bigbob
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To: cashless

Yeah, a couple days ago they were saying we were not going to lose the rating... just like Geitner was telling us there would not be more quantitative easing when there was, or that the unemployment is unexpectedly high.

Now they are going to make us “feel” guilty for adjusting the prices to the inflationary spiral and the usurious debts being used for moralizing us at the tip of the bayonnette, calling us terrorists and unpatriotic unamerican.

I dare them.


50 posted on 08/05/2011 6:19:45 PM PDT by JudgemAll (Democrats Fed. job-security Whorocracy & hate:hypocrites must be gay like us or be tested/crucified)
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