reasonfreedom
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Joined: Dec 21, 2010 8:50:21 GMT -5
Posts: 1,722
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Post by reasonfreedom on Jun 3, 2011 16:29:07 GMT -5
How close is congress and the White House to a resolution of the debt ceiling  August 2 is just two months down the road and if Moody's rates the government debt as junk then watch the fireworks. The sad thing is that Moody's was one of the idiots that rated the junk derivatives with a high rating and yet the market still follow their advice. Stupid is stupid. |
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Post by privateinvestor on Jun 3, 2011 16:40:22 GMT -5
The sad thing is that Moody's was one of the idiots that rated the junk derivatives with a high rating and yet the market still follow their advice. Stupid is stupid.[/quote][/color]
Good Point but it has the stock and bonds markets spooked again...along with the lousy economic data released today
Dow, S&P 500 suffer worst weekly losses since August
The blue chips fall 97 after the government says unemployment rises to 9.1%. Only 54,000 new jobs are created. Oil and gold rise as the dollar falls
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reasonfreedom
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Joined: Dec 21, 2010 8:50:21 GMT -5
Posts: 1,722
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Post by reasonfreedom on Jun 3, 2011 17:08:31 GMT -5
The sad thing is that Moody's was one of the idiots that rated the junk derivatives with a high rating and yet the market still follow their advice. Stupid is stupid. [/color] Good Point but it has the stock and bonds markets spooked again...along with the lousy economic data released today Dow, S&P 500 suffer worst weekly losses since August The blue chips fall 97 after the government says unemployment rises to 9.1%. Only 54,000 new jobs are created. Oil and gold rise as the dollar falls[/quote] yeah, unemployment going up was a big oopsie IMO. That in no way is going to look good. How can unemployment go up during a recovery without looking contradicting? |
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ungenteel
Familiar Member
Joined: Dec 25, 2010 20:26:26 GMT -5
Posts: 560
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Post by ungenteel on Jun 3, 2011 21:51:26 GMT -5
save money ... bring the troops home
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Post by maui1 on Jun 6, 2011 9:39:18 GMT -5
i would venture to say the opposite.
if our gov't shows some backbone and stops the raising of the debt ceiling. it will show the rest of the world, that we mean what we say, and that we will be a country to reckon with for centuries to come.
imo, the market will falter at 1st, but then go thru the roof, knowing that sound money will be the future of america.
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fairlycrazy23
Senior Member
Joined: Dec 27, 2010 23:55:19 GMT -5
Posts: 3,306
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Post by fairlycrazy23 on Jun 6, 2011 10:10:35 GMT -5
I think Moody's said the long term debt problem is the main issue facing the United States, so the debt ceiling was not the real thrust of there rating. At least that is how I remember it, because of there track record I didn't' read it too closely.
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Post by maui1 on Jun 6, 2011 11:54:37 GMT -5
the ONLY way to stop or lower the debt problem........is NOT to raise the debt ceiling.
again, we have addressed this issue 69 times in the last 90 years, and each time, any proposed reductions in spending, were amended or completely ignored by future politicians, or by the same politicians, but a few months later.
again......lets stop doing the same thing over and over again, expecting a differant result, each time.
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Post by maui1 on Jun 7, 2011 8:22:42 GMT -5
we have an easy fix that we will all miss, if we don't have the balls to exercise this fix.
the house can fix this debt issue very easy. all they have to do is not vote for the debt ceiling increase. if they don't, our gov't will have to live within the federal gov'ts tax receipts. this will not reduce the deficient, but it will stop adding to it.
do you know that since 1913 (the start of the fed) the federal gov't has been in debt? we have had a few years where we had a balanced budget and even a surplus, but never enough to pay off our outstanding debt.
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