So what do you think that it is going to happen to the worlds economy after the downgrade of Standard and Poor from triple AAA to AA of the United States? Another economy colaps?
Fitch & Moody's still have you at AAA - the AA is politics. Seems there's democracy in ratings agencies though.
Standard and Poor is manipulated by republicans, how they approve all the debt while G.W. Bush was in the white house. The TEA party will break the economy in USA. That is the impression I have living outside US
I don't actually believe this (it's really far-fetched), but here's a conspiracy theory I heard: Historically, the President in office has a difficult time getting re-elected for a second term when the economy is bad. The economy was perceived negatively before the S & P rating came out, but the rating has made it much more so. I've read Harold W. McGraw III is supporting Romney for President. McGraw is the chairman, president and chief executive officer (CEO) of McGraw-Hill Companies, which is the parent company of Standard & Poor's. Romney came out to the public, just hours after the announcement announcing that the rating is all Obama's fault. So, the S & P rating might have increased Romney's chances a bit, and I do think it's likely, it will come down to Romney vs. Obama 2012. If you haven't heard of Romney, he's the one that strapped his poor dog in a carrier on the hood of his car and drove for miles. Anyway, as far as the effects of the S & P rating, It's not what we would choose, but I'm confident that we'll get over this bump.
There is a lot more than just debt to GDP that goes into a credit rating, but as an individual, if my debt to gross annual income were to shoot up by 50% at the same time my income was falling, with projected spending sending that debt to earnings ratio up another 50%, you are damn right my credit rating would change. Compare that with a country like Australia that has held its debt to GDP at a nice solid, steady, predictable 20%, which credit markets love, and I have a hard time understanding how any ratings agency could assign the two countries the same rating. Be prepared for France, and a few others that have been given too much slack for too long to get a downgrade. Lets also not forget that no two credit agencies, Experion and Equifax for example, are going to score your credit the same way, making these conspiracy theories about the Republican party pretty far fetched IMO. LMAO. You are the first person I've heard mention this story. I have some friends from Mass. (liberals) who go on and on about it. Apparently, it was not the hood of the car, but the roof rack where his dog was put, and when they say "miles" they are talking like 60 miles. I have a sneaking suspicion Romney's numbers are going to go way down once Perry gets into the race, which seems certain at this point. As much as I disagree with his foreign policy, I find myself secretly cheering for Ron Paul these days. I would love to see Obama face a primary challenger.
The ratings game is a just another political football here. And they don't mean squat in the long run. What really matters is the spending to income ratio. Spending is massively above income, so sooner or later everything has to hit the fan, regardless of what the ratings say. If I were spending more than I was making, the banks would clamp down and FORCE me to cut spending. Sooner or later, China, Germany, Saudi Arabia, Japan, et alia (our bankers) will FORCE the U.S. to cut spending. When that happens, the riots in Tottenham, Greece, etc. will look like child's play to Americans. The whole American economy will come to a total halt. When that happens over 80% of Americans will be without food in less than a week. Anyone in a large city will face starvation, disease, and civil unrest worse than we see in Somalia today.
I'm not sure what you mean about the "ALL NEW TALKING Rebecca", but thanks Bushranger. You're right, I misspoke. It wasn't the "hood" of the car, but the "roof". Either way, I think that the story displays a remarkable lack of empathy on Romney's part. However, it's not just "liberals" that care about the well-being and treatment of animals. I would say a large portion of Americans do. I've known about the Romney incident for years, not specifically from liberals, but it had been brought up in the animal welfare and animal rights community. They do organize politically very well, and many of them voted for Obama because they felt he would be the most supportive candidate when it comes to animal welfare. I think Rick Perry already has a handicap, as he reminds many Americans of ex President Bush. With Ron Paul, in the last Presidential primary election he had 4% support. I doubt if it would be much higher this time around. I feel pretty confident it's going to be Romney vs. Obama 2012, but we'll see.
Someone needs to make a commercial with Romney and his pet strapped to the car....and most likely will in the general election. The primary battle with Perry in it will be a lot rougher whoever comes out on top - Romney people will never forgive Perry and the Republicans would not forgive Romney if he derails Perry. Win - Win for the Democrats.
I believe it was W.C. Fields who said, "Anyone who hates dogs and children cant be all bad" Primaries are so squirrelly, I don't even like to speculate. Being on the west coast, it is usually decided long before I get a say in the matter. There are simply candidates would rather support more than others. I wish Perry reminded me of Bush more. It might get me motivated to vote for him .
It was Leo Rosten that said it about W.C. Fields as a joke, I think. LOL. Really? They definitely could, although that probably wouldn't be necessary as animal organizations will discuss and advertise the track record of all candidates.
Against Obama.... really, though Bush had some pretty crazy liberal policies when it came to spending our money, so I would really prefer another candidate. If we had it all to do over again, I'd of switched parties to Democrat just to help put Hillary in the oval office. I'm sure I'd be cursing her as well, but certainly not as much. I suspect most lefties and all independents who helped but Bo-Bo in office feel the same way.
What do you like about Hillary? On a side note, I thought this was kind of an upbeat article about the US: (not as many of those lately)
There have been a few articles lately speculating whether Hillary would have been a better President than Obama - She was not a good campaigner - to have a chance for holding the White House under the present conditions the Campaigner in Chief might still be the one to pull it off. Obama has survived the worst 2 1/2 years of any Presidency imaginable and for no real consequences of his own making. The Democrats have best to support their President and work together to defeat the Republicans....
Yes, we all made up the debt problem and the spending problem. It simply does not exist... Unbelievable.
Eh...don't think there really will be another "world crisis" republicans and wall street are driven by greed and power, an economy (and nation) in ruins doesn't help them. They're just profiting in the volatility in the stock, bonds and currency markets. Given the complex number of derivatives these days, you can make as more money betting against something than you gain betting for it. If anything, invest in Goldman Sachs, they seem to profit no matter what happens.