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 Shocking ! USA credit downgraded...politicians caused it !!

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joefrank
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joefrank

Number of posts : 8210
Registration date : 2008-11-04
Age : 71
Location : Santa Fe, New Mexico, USA

Shocking ! USA credit downgraded...politicians caused it !! Empty
PostSubject: Shocking ! USA credit downgraded...politicians caused it !!   Shocking ! USA credit downgraded...politicians caused it !! EmptyFri Aug 05, 2011 9:10 pm

8/6/2011


This is shocking the first time in 235 USA history, USA was downgraded
today, our politicians are the cause of this and this country is being
dragged down. Monday the stock market will act violently dropping
several thousand points, it's a disaster and we have only our Govt.
to blame, time for them to be ousted in 2012...


Cheers..Joe
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Abe F. March
Five Star Member
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Abe F. March

Number of posts : 10731
Registration date : 2008-01-26
Age : 81
Location : Germany

Shocking ! USA credit downgraded...politicians caused it !! Empty
PostSubject: Re: Shocking ! USA credit downgraded...politicians caused it !!   Shocking ! USA credit downgraded...politicians caused it !! EmptyFri Aug 05, 2011 10:28 pm

The reason for the downgrade, based on the analysis I heard this morniing, had much to do with the political controversy surrounding the decision to raise the debt ceiling.
As DK pointed out in several of her posts, the decision to raise the debt ceiling could have been made early, avoiding the fear of default. The fear of default was felt not only by American citizens, but also by financial institutions and governments around the world.
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dkchristi
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dkchristi

Number of posts : 8594
Registration date : 2008-12-29
Location : Florida

Shocking ! USA credit downgraded...politicians caused it !! Empty
PostSubject: Re: Shocking ! USA credit downgraded...politicians caused it !!   Shocking ! USA credit downgraded...politicians caused it !! EmptySat Aug 06, 2011 5:19 am

In this case, for once, blame is easily found: the republicans who refused to put that simple bill into place in January. The very fact that they showed so little respect for the potential default and the major hullabaloo set a fear cycle into place regarding the capacity of the Congress to govern.

What a pity that the greatest country in the world has been held captive by a handful of republicans and with the reign of bigotry and narrow thinking, a hole has really been dug deeply.

Unemployment? GNP? When you lay off government workers; when business and industry sits on their profits and refuses to hire, accustomed to higher productivity from fewer workers; pray tell what consumer is spending? Oh, that's right, when the rich are made richer they buy - you know, trickle down.
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Abe F. March
Five Star Member
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Abe F. March

Number of posts : 10731
Registration date : 2008-01-26
Age : 81
Location : Germany

Shocking ! USA credit downgraded...politicians caused it !! Empty
PostSubject: Re: Shocking ! USA credit downgraded...politicians caused it !!   Shocking ! USA credit downgraded...politicians caused it !! EmptySat Aug 06, 2011 7:26 am

Listening to world news. The shock is still being felt. The credit downgrade has more to do with the political atmosphere and loss of confidence than with the debt. The Tea Party is credited with the problem, and I agree with that assessment.
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Shocking ! USA credit downgraded...politicians caused it !! Empty
PostSubject: Re: Shocking ! USA credit downgraded...politicians caused it !!   Shocking ! USA credit downgraded...politicians caused it !! Empty

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