S&P Downgrades US credit rating
- Thread starter beth
- Start date
so many people are barely crawling back from the last recession.....altho I never felt we totally got out of it 
prh123
Member
I been doing contract work, driving 1500 miles to the next engagement, takes forever to get another contract, this “sucks”.
Hey, I don't understand the Standard & Poor's part, but England lost there triple A credit rating and recovered it within a year, its cost everyone from what the news said.
Hey, I don't understand the Standard & Poor's part, but England lost there triple A credit rating and recovered it within a year, its cost everyone from what the news said.
bionicarm
Active Member
I kept singing that song "Roller Coaster" all day yesterday watching the markets. It's what happens to the Middle East markets on Sunday that scare me. Those die, and we'll probably lose another 400 - 500 points on Monday. Of course the analyst are shrugging it off as the market is just "normalizing" itself from going over 12,000.
This minor downgrade may bump the mortgage prime and other interests rates up a half point or two. Not sure if you would call that devastating right now, considering 30-year mortgages are in the low 4's right now. Think the Carter years, and this isn't even a blip on the radar.
This minor downgrade may bump the mortgage prime and other interests rates up a half point or two. Not sure if you would call that devastating right now, considering 30-year mortgages are in the low 4's right now. Think the Carter years, and this isn't even a blip on the radar.
prh123
Member
I remember, seems dumb, the same companies reading the same books on global economics forgot people need jobs in the United States for “everyone” to succeed. PHILIPS started outsourcing everything in 1998, now they sell crap, each move they make collapses or has a major recall. Dumb.
bionicarm
Active Member
Quote:
Originally Posted by reefraff http:///forum/thread/387164/s-p-downgrades-us-credit-rating#post_3404472
Might or might not have been baked into the cake in the market. I'm still mostly cash, not sure which way things go from here.
I hear rumblings of going back to the gold standard. I thought it was nuts when a buddy of mine bought a Krugerrand when gold was at $800. Guess he showed me.
Originally Posted by reefraff http:///forum/thread/387164/s-p-downgrades-us-credit-rating#post_3404472
Might or might not have been baked into the cake in the market. I'm still mostly cash, not sure which way things go from here.
I hear rumblings of going back to the gold standard. I thought it was nuts when a buddy of mine bought a Krugerrand when gold was at $800. Guess he showed me.
reefraff
Active Member
Quote:
Originally Posted by bionicarm http:///forum/thread/387164/s-p-downgrades-us-credit-rating#post_3404582
I hear rumblings of going back to the gold standard. I thought it was nuts when a buddy of mine bought a Krugerrand when gold was at $800. Guess he showed me.
You have to have gold to go to the gold standard. A buddy of my brother has been buying old US gold coins for years, I'm sure he's a happy camper. Gold has had a nice run but I've made more in the market over the last 5 years than I would have sitting on Gold.
Originally Posted by bionicarm http:///forum/thread/387164/s-p-downgrades-us-credit-rating#post_3404582
I hear rumblings of going back to the gold standard. I thought it was nuts when a buddy of mine bought a Krugerrand when gold was at $800. Guess he showed me.
You have to have gold to go to the gold standard. A buddy of my brother has been buying old US gold coins for years, I'm sure he's a happy camper. Gold has had a nice run but I've made more in the market over the last 5 years than I would have sitting on Gold.
stdreb27
Active Member
Going back to a gold standard is quite frankly insane. And results in FAR FAR FAR more government manipulations than what we have now. It would work in a closed market, or if universally accepted by the whole planet, but in dealing with any international trade, you'll have issues....
mrdc
Active Member
S&P is the same firm that gave the sub prime crap a AAA rating that all those banks were holding. They were great at catching Enron too.
No matter, the downgrade will have a market impact and I hope the politicians will see enough is enough. However, I don't really think that they will fix anything and will just continue the blame game.
No matter, the downgrade will have a market impact and I hope the politicians will see enough is enough. However, I don't really think that they will fix anything and will just continue the blame game.
ironeagle2006
Active Member
Wll S&P just Hammered Freddine and Fannies Debt ALL OF IT since Obama Just gave them another 5 BILLION in BAILOUTS. S&P is telling the Obama Administration either Stop Spending Money or We WILL DOWNGRADE the USA Further and the Markets are in FREEFALL again. Hopefully we can say BYE BYE to the Chitown Crook in 2012.
bionicarm
Active Member
If you hae money to burn, get ready to throw some back into the market. Dow went down by 635 points today. The bottom may not have been hit yet, but when it turns back around (and yes, it WILL turn. It's done this how many times in the past 10 years?) There will be some BIG money to be made.
gemmy
Active Member
Quote:
Originally Posted by bionicarm http:///forum/thread/387164/s-p-downgrades-us-credit-rating#post_3405320
If you hae money to burn, get ready to throw some back into the market. Dow went down by 635 points today. The bottom may not have been hit yet, but when it turns back around (and yes, it WILL turn. It's done this how many times in the past 10 years?) There will be some BIG money to be made.
Wow, I actually agree with you.
Originally Posted by bionicarm http:///forum/thread/387164/s-p-downgrades-us-credit-rating#post_3405320
If you hae money to burn, get ready to throw some back into the market. Dow went down by 635 points today. The bottom may not have been hit yet, but when it turns back around (and yes, it WILL turn. It's done this how many times in the past 10 years?) There will be some BIG money to be made.
Wow, I actually agree with you.
bionicarm
Active Member
Quote:
Originally Posted by reefraff http:///forum/thread/387164/s-p-downgrades-us-credit-rating#post_3405336
Trigger finger is getting itchy, been mostly cash for a few months.
You see where Bank Of America lost over 20%? The market said they got blasted because they were strong enough to handle it. You know that stock will go back up at least 10% in the next two weeks or so. GM lost a little over 6.61%, and Ford lost 8.39%. I'd take a good shot at both of those recovering by the end of the week. All depends on whether the foreign markets will make the first move to rebound.
Originally Posted by reefraff http:///forum/thread/387164/s-p-downgrades-us-credit-rating#post_3405336
Trigger finger is getting itchy, been mostly cash for a few months.
You see where Bank Of America lost over 20%? The market said they got blasted because they were strong enough to handle it. You know that stock will go back up at least 10% in the next two weeks or so. GM lost a little over 6.61%, and Ford lost 8.39%. I'd take a good shot at both of those recovering by the end of the week. All depends on whether the foreign markets will make the first move to rebound.
reefraff
Active Member
Quote:
Originally Posted by bionicarm http:///forum/thread/387164/s-p-downgrades-us-credit-rating#post_3405373
You see where Bank Of America lost over 20%? The market said they got blasted because they were strong enough to handle it. You know that stock will go back up at least 10% in the next two weeks or so. GM lost a little over 6.61%, and Ford lost 8.39%. I'd take a good shot at both of those recovering by the end of the week. All depends on whether the foreign markets will make the first move to rebound.
Yeah, I am just looking. Cat looks promising too. I might get into some ford and BofA although I'll have to hold my nose on the BofA. Looks like tomorrow will be down again. Lost a lot of GE profit but I am twixt and tween. I am close to the point where interest and dividends are taxable. If I can hold the gainers through the end of the year it will save me from the taxes.
Originally Posted by bionicarm http:///forum/thread/387164/s-p-downgrades-us-credit-rating#post_3405373
You see where Bank Of America lost over 20%? The market said they got blasted because they were strong enough to handle it. You know that stock will go back up at least 10% in the next two weeks or so. GM lost a little over 6.61%, and Ford lost 8.39%. I'd take a good shot at both of those recovering by the end of the week. All depends on whether the foreign markets will make the first move to rebound.
Yeah, I am just looking. Cat looks promising too. I might get into some ford and BofA although I'll have to hold my nose on the BofA. Looks like tomorrow will be down again. Lost a lot of GE profit but I am twixt and tween. I am close to the point where interest and dividends are taxable. If I can hold the gainers through the end of the year it will save me from the taxes.
stdreb27
Active Member
Quote:
Originally Posted by bionicarm http:///forum/thread/387164/s-p-downgrades-us-credit-rating#post_3405373
You see where Bank Of America lost over 20%? The market said they got blasted because they were strong enough to handle it.
Where they saying BoA was strong enough to handle it, so they lost stock value. Does that make a lick of sense?
Quote:
Originally Posted by reefraff http:///forum/thread/387164/s-p-downgrades-us-credit-rating#post_3405410
Yeah, I am just looking. Cat looks promising too. I might get into some ford and BofA although I'll have to hold my nose on the BofA. Looks like tomorrow will be down again. Lost a lot of GE profit but I am twixt and tween. I am close to the point where interest and dividends are taxable. If I can hold the gainers through the end of the year it will save me from the taxes.
Remember GE can't write off profits next year...
Originally Posted by bionicarm http:///forum/thread/387164/s-p-downgrades-us-credit-rating#post_3405373
You see where Bank Of America lost over 20%? The market said they got blasted because they were strong enough to handle it.
Where they saying BoA was strong enough to handle it, so they lost stock value. Does that make a lick of sense?
Quote:
Originally Posted by reefraff http:///forum/thread/387164/s-p-downgrades-us-credit-rating#post_3405410
Yeah, I am just looking. Cat looks promising too. I might get into some ford and BofA although I'll have to hold my nose on the BofA. Looks like tomorrow will be down again. Lost a lot of GE profit but I am twixt and tween. I am close to the point where interest and dividends are taxable. If I can hold the gainers through the end of the year it will save me from the taxes.
Remember GE can't write off profits next year...