S&P Downgrades US credit rating
- Thread starter beth
- Start date
reefraff
Active Member
Quote:
Originally Posted by stdreb27 http:///forum/thread/387164/s-p-downgrades-us-credit-rating#post_3405473
Where they saying BoA was strong enough to handle it, so they lost stock value. Does that make a lick of sense?
Remember GE can't write off profits next year...
Yeah but as long as the GE CEO's Buttbuddy is in the white house I figure it's worth holding on to.
Originally Posted by stdreb27 http:///forum/thread/387164/s-p-downgrades-us-credit-rating#post_3405473
Where they saying BoA was strong enough to handle it, so they lost stock value. Does that make a lick of sense?
Remember GE can't write off profits next year...
Yeah but as long as the GE CEO's Buttbuddy is in the white house I figure it's worth holding on to.
bionicarm
Active Member
Quote:
Originally Posted by stdreb27 http:///forum/thread/387164/s-p-downgrades-us-credit-rating#post_3405473
Where they saying BoA was strong enough to handle it, so they lost stock value. Does that make a lick of sense?
Remember GE can't write off profits next year...
They knew the market was going to tank because of what happened to the foreign markets. If you're going to dump stock, dump it with a company that can afford and survive the loss. BofA losing 20% is better than a Cisco, GE, Ford, GM, or any other volatile company taking the same percentage loss. Dow closed up over 430 points. Bank Of America? Up 16.74%. CHA CHING!
Originally Posted by stdreb27 http:///forum/thread/387164/s-p-downgrades-us-credit-rating#post_3405473
Where they saying BoA was strong enough to handle it, so they lost stock value. Does that make a lick of sense?
Remember GE can't write off profits next year...
They knew the market was going to tank because of what happened to the foreign markets. If you're going to dump stock, dump it with a company that can afford and survive the loss. BofA losing 20% is better than a Cisco, GE, Ford, GM, or any other volatile company taking the same percentage loss. Dow closed up over 430 points. Bank Of America? Up 16.74%. CHA CHING!
stdreb27
Active Member
Quote:
Originally Posted by bionicarm http:///forum/thread/387164/s-p-downgrades-us-credit-rating/20#post_3405610
They knew the market was going to tank because of what happened to the foreign markets. If you're going to dump stock, dump it with a company that can afford and survive the loss. BofA losing 20% is better than a Cisco, GE, Ford, GM, or any other volatile company taking the same percentage loss. Dow closed up over 430 points. Bank Of America? Up 16.74%. CHA CHING!
oh I see what you're saying.
Originally Posted by bionicarm http:///forum/thread/387164/s-p-downgrades-us-credit-rating/20#post_3405610
They knew the market was going to tank because of what happened to the foreign markets. If you're going to dump stock, dump it with a company that can afford and survive the loss. BofA losing 20% is better than a Cisco, GE, Ford, GM, or any other volatile company taking the same percentage loss. Dow closed up over 430 points. Bank Of America? Up 16.74%. CHA CHING!
oh I see what you're saying.
mantisman51
Active Member
Henry Ford proved for a company to grow the workforce has to be well paid and employed. He was right and we had a massive explosion of prosperity. The reverse has been happening here in America for the last 10-15 years with wages not keeping up with inflation and so many good jobs sent overseas. Now I know the Rockefeller Republicans will chime in with free trade, company profits and all, but the fact is the real estate mess was a symptom of the greater problem of loss of spending power by the middle class. As companies shipped jobs overseas and pushed profits to a higher percentage than ever before, the largest sector of Americans have lost their spending power. Combine that with artificially inflated energy prices and, voila, massive recession. There are zero, nada, no, none, zip reasons for the economy to turn around. There is no market fundamentals that supports the idea that our economy will improve, other than "we are America and we always bounce back". As much as it pains me to say it, big business (especially the banks) have squeezed so much money out of middle class that there is really not enough buying power in the middle class to re-energize the economy. Add the dumicratics insistence on shutting off our own energy sources and the outflow of $ from our economy is irreparable. It has taken business and government over 2 years of "recovery" to discover this. Two problems that have to be resolved for the economy to recover, and the dumicratics and rebooblicans neither will give in to fix them: 1) The incentive to give tax breaks to American companies to outsource jobs must be completely ended and new taxes slapped on them with 100% tax rebates for every job here and every $ spent on r&d and production capacity added here. 2) Oil, coal and natural gas deposits are going to have to be opened up (for real, not Obama style lip flappin-no action kind) and energy prices must be driven down like they were in the 80's and 90's when we had real economic growth and not false mortgage-derived growth. Neither party will give in and we are heading towards a European style .5-2% growth. Think I'm full of it? June 2009 we "pulled out of the recession".
mantisman51
Active Member
http://news.yahoo.com/blogs/cutline/video-msnbc-dylan-ratigan-meltdown-over-meltdown-031046281.html
I just read this. He is absolutely right. And both parties are allowing their base to sabotage any chance of dealing with the core problems.
I just read this. He is absolutely right. And both parties are allowing their base to sabotage any chance of dealing with the core problems.
mantisman51
Active Member
Kinda funny how an eccentric businessman could see it so clearly, but no one else in government and business could. Perot was looney, but dead-on in how this would play out.
stdreb27
Active Member
What the crap, that guy makes no sense what so ever. Just because someone get the useless hags at MSNBC to shup up for 2 seconds so he can say we're screwed, doesn't mean he's absolutely right.
First of all, someone explain to me how forcing a balanced budget is burning things to the ground?!?
Second, if, in his mind, a balanced budget is burning things to the ground, then he's not really serious about fiscal responsibility. Because as a mathematical fact, we don't just need to end 1 trillion dollar obama deficits, but we've gotta start paying that back. It just doesn't make sense. Come on folks. He's screaming out of both holes.
The reality is, the only group advocating fiscal responsibility is a faction inside the right wing, which is imo it is the republican base. Who he's blaming for the issue to begin with?!? It wasn't the republican base that punted, but a group of ruling class republicans who cajoled and arm twisted the rest of the Republican representation until they got what the ruling class wanted....
First of all, someone explain to me how forcing a balanced budget is burning things to the ground?!?
Second, if, in his mind, a balanced budget is burning things to the ground, then he's not really serious about fiscal responsibility. Because as a mathematical fact, we don't just need to end 1 trillion dollar obama deficits, but we've gotta start paying that back. It just doesn't make sense. Come on folks. He's screaming out of both holes.
The reality is, the only group advocating fiscal responsibility is a faction inside the right wing, which is imo it is the republican base. Who he's blaming for the issue to begin with?!? It wasn't the republican base that punted, but a group of ruling class republicans who cajoled and arm twisted the rest of the Republican representation until they got what the ruling class wanted....
mantisman51
Active Member
I agree with most of what you said and it is not antithetical to what I am saying he was right about. We have tax and business policy that is draining money out of the country. Money that in years past would have been in the pocket of American workers, which drove our economy. Until Congress can figure it out, the deficit and debt can't be worked on. Cutting spending is the best first step. But until the systemic problems are solved, that won't solve the issue of revenue and consumer spending. These are not mutually exclusive, but rather integral to fixing our economy.
mantisman51
Active Member
Unfortunately, I believe this is a portend of companies retracting. Which will mean more layoffs. I think the biggest mistake the Fed has made since 2008 was expecting deflation and adjusting the monetary system for planned inflation. They did it under the guise of monetizing the debt which would theoretically lower the debt, but that depends on a healthy job market. We probably won't see a healthy job market for another 3-5 years.
reefraff
Active Member
At some point a truly smart leader would say "heck with it, let's try something different" Unfortunately.....
Simplify or even suspend regulations, give a tax holiday or at least a major break on the money being held overseas, Make the current capitol gains rates permanent. REIGN in the EPA. They are now hiring interns but to get a position you must be involved with "environmental justice". Code word for radical, no nothing, tree hugging fool.
Simplify or even suspend regulations, give a tax holiday or at least a major break on the money being held overseas, Make the current capitol gains rates permanent. REIGN in the EPA. They are now hiring interns but to get a position you must be involved with "environmental justice". Code word for radical, no nothing, tree hugging fool.
ironeagle2006
Active Member
Why in the hell do you think I want Herman Cain as President in 2012. He is the ONLY person out there that has RUN a Business in Real life he started off as a Manager of a Godfathers Pizza was made Regional Manager in the Atlanta Area and for 3 Years was the Most Succesful Region in the NAtion was then given the Reigns of the COmpany he turned the WHOLE freaking Company around. He also was on the Board of the Fed Reserve in Kansas City.
His plan to Recharge the Economy here in the USA is simple as hell a 0% corprarte tax rate on every company that employs 90% of all there employees HERE in the USA WORLDWIDE. Boy wonder how fast companies will be bringing home JOBS instead of shipping them Overseas.
His plan to Recharge the Economy here in the USA is simple as hell a 0% corprarte tax rate on every company that employs 90% of all there employees HERE in the USA WORLDWIDE. Boy wonder how fast companies will be bringing home JOBS instead of shipping them Overseas.
tangs rule
Active Member
Going back to the original title, I heard the BEST "real world" example of our debt problems AND why our credit rating deserved to be dropped......Just take 8 digits off all these galacticly huge figures:
(2011 numbers)
Your family brings in $21,000 per year TOTAL income. (total USA tax revenues less 8 figures)
Your family spends $38,000 per year in spending. (total current annual spending levels - less 8 digits)
SO - Your family added $17,000 to the credit cards this year - to an EXISTING balance of $147,000.00 AND plan to add another $17-18k to that balance next year, and the next, and the next, etc. BUT the good news is your card balance was JUST upped to $170,000.00 (recent budget deal)
Your family has made "promises" through FUTURE giving to others (entitlement programs) of about $600,000 - $1,000,000
You and the wife just fought like cats & dogs cause of the budget issues and agreed to cut $385.00 from this years spending. This is the same as omitting 1 daily coffee from starbucks for 3 months...
AND in total secret - the Husband of the family got a stealth credit card 3 years ago - and it's current balance is at least $100,000 (this is the govt Quanitave Easing or QE1 & QE2) but no one knows just what the balance is, cause the Federal Reserve (husband) has printed/borrowed so much, they really don't know - and he will not tell anyone AND it's not in the family budget figures.
Please explain why this family deserves a credit score of 800+ ? ? ?
Oh - and if you decided to take ALL the money the "rich" inlaws have it only ammounts to $35,000 - and once you take it all, you don't go back for more - cause they are as broke as the family is now. (that whole tax those greedy fatcat bastards thingy that Obama likes so much)
(2011 numbers)
Your family brings in $21,000 per year TOTAL income. (total USA tax revenues less 8 figures)
Your family spends $38,000 per year in spending. (total current annual spending levels - less 8 digits)
SO - Your family added $17,000 to the credit cards this year - to an EXISTING balance of $147,000.00 AND plan to add another $17-18k to that balance next year, and the next, and the next, etc. BUT the good news is your card balance was JUST upped to $170,000.00 (recent budget deal)
Your family has made "promises" through FUTURE giving to others (entitlement programs) of about $600,000 - $1,000,000
You and the wife just fought like cats & dogs cause of the budget issues and agreed to cut $385.00 from this years spending. This is the same as omitting 1 daily coffee from starbucks for 3 months...
AND in total secret - the Husband of the family got a stealth credit card 3 years ago - and it's current balance is at least $100,000 (this is the govt Quanitave Easing or QE1 & QE2) but no one knows just what the balance is, cause the Federal Reserve (husband) has printed/borrowed so much, they really don't know - and he will not tell anyone AND it's not in the family budget figures.
Please explain why this family deserves a credit score of 800+ ? ? ?
Oh - and if you decided to take ALL the money the "rich" inlaws have it only ammounts to $35,000 - and once you take it all, you don't go back for more - cause they are as broke as the family is now. (that whole tax those greedy fatcat bastards thingy that Obama likes so much)
reefraff
Active Member
Quote:
Originally Posted by ironeagle2006 http:///forum/thread/387164/s-p-downgrades-us-credit-rating/20#post_3406213
Why in the hell do you think I want Herman Cain as President in 2012. He is the ONLY person out there that has RUN a Business in Real life he started off as a Manager of a Godfathers Pizza was made Regional Manager in the Atlanta Area and for 3 Years was the Most Succesful Region in the NAtion was then given the Reigns of the COmpany he turned the WHOLE freaking Company around. He also was on the Board of the Fed Reserve in Kansas City.
His plan to Recharge the Economy here in the USA is simple as hell a 0% corprarte tax rate on every company that employs 90% of all there employees HERE in the USA WORLDWIDE. Boy wonder how fast companies will be bringing home JOBS instead of shipping them Overseas.
Yeah but he's unelectable.
Originally Posted by ironeagle2006 http:///forum/thread/387164/s-p-downgrades-us-credit-rating/20#post_3406213
Why in the hell do you think I want Herman Cain as President in 2012. He is the ONLY person out there that has RUN a Business in Real life he started off as a Manager of a Godfathers Pizza was made Regional Manager in the Atlanta Area and for 3 Years was the Most Succesful Region in the NAtion was then given the Reigns of the COmpany he turned the WHOLE freaking Company around. He also was on the Board of the Fed Reserve in Kansas City.
His plan to Recharge the Economy here in the USA is simple as hell a 0% corprarte tax rate on every company that employs 90% of all there employees HERE in the USA WORLDWIDE. Boy wonder how fast companies will be bringing home JOBS instead of shipping them Overseas.
Yeah but he's unelectable.