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Fitch Prepares To Downgrade U.S. Credit Rating...

 
Anonymous Coward
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01/15/2013 05:28 PM
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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
ochange
Chrit

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01/15/2013 05:38 PM

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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
This is the real news, everything else is a distraction.

The CBO’s alternative scenario is on us.

Debt2012
I'm only human, it's my biggest flaw.

We must all realize a sink a chair and a pillow are all luxuries of home and a soldiers helmet takes the place of all three.
ClydeX

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01/15/2013 05:40 PM
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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
This is a bit more serious than when Egan Jones does it...

Because Fitch, Moody's, and Standard & Poor's are the big three when it comes to banks and what bonds they can hold as securities...

Will make a huge difference in Basel III Tier I asset catagorization as well...


LONDON (AP) — The United States could lose its top credit rating for the second time from a leading credit agency if there's a delay in raising the country's debt ceiling, Fitch Ratings warned Tuesday.

Congress has to increase the country's debt limit, which effectively rules how much debt the U.S. can have, by March 1 or face a potential default. There are fears that the debate will deteriorate into the squabbling and political brinkmanship that marked the last effort to raise the ceiling in the summer of 2011. The U.S. Treasury Department warned then that it had nearly reached a point where it would be unable "to meet our commitments securely."

If Fitch does move to downgrade the US, it will join Standard & Poor's, which was so concerned by the dysfunctional 2011 debate that it stripped the U.S. of its triple A rating for the first time in the country's history. Another major ratings agency, Moody's, also has a negative view on the U.S. outlook...


[link to www.usatoday.com]

How's the hopey changey workin' out for you...
 Quoting: Saddletramp


trans_sign
 Quoting: Renegade (Me too)


In a nutshell

If Fitch downgrades U.S. Debt, that's 2 out of the big 3, that would mean the Interest that the U.S. has to pay on its debt could go up dramatically...
 Quoting: Saddletramp


Would also affect the US's ability regarding further additional borrowing.

Moody's was also discussing a downgrade late last year - that may well still be in play - especially if Fitch moves, they may be more inclined to jump on the boat.

Good find OP
Job 12:7) But ask now the beasts, and they shall teach thee; and the fowls of the air, and they shall tell thee:
8) Or speak to the earth, and it shall teach thee: and the fishes of the sea shall declare unto thee.
Dr. Charles Norris

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01/15/2013 05:42 PM
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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
Wut a fucking joke those (US controlled) credit agencies are..wahahaha

Come on guys its so fucking sad it isnt even funny anymore,US should be downgraded years ago..

Peace
 Quoting: oO 32296929


you sir are a terrorist
Corn Dog

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01/15/2013 05:53 PM

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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
This is bad, bad news. With the statement to get rid of the debt ceiling, plus I heard due to the debt ceiling issue interest rates may be on the rise. We are closing on an ARM this Friday cause it was the best way. Now I am doubting our decision. If interest rates go up it is going to hurt many plus if we get downgraded.... oh sh!t.
Epic Beard Guy
Constitutional Crusader

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01/15/2013 05:57 PM

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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
This is a bit more serious than when Egan Jones does it...

Because Fitch, Moody's, and Standard & Poor's are the big three when it comes to banks and what bonds they can hold as securities...

Will make a huge difference in Basel III Tier I asset catagorization as well...


LONDON (AP) — The United States could lose its top credit rating for the second time from a leading credit agency if there's a delay in raising the country's debt ceiling, Fitch Ratings warned Tuesday.

Congress has to increase the country's debt limit, which effectively rules how much debt the U.S. can have, by March 1 or face a potential default. There are fears that the debate will deteriorate into the squabbling and political brinkmanship that marked the last effort to raise the ceiling in the summer of 2011. The U.S. Treasury Department warned then that it had nearly reached a point where it would be unable "to meet our commitments securely."

If Fitch does move to downgrade the US, it will join Standard & Poor's, which was so concerned by the dysfunctional 2011 debate that it stripped the U.S. of its triple A rating for the first time in the country's history. Another major ratings agency, Moody's, also has a negative view on the U.S. outlook...


[link to www.usatoday.com]

How's the hopey changey workin' out for you...
 Quoting: Saddletramp


trans_sign
 Quoting: Renegade (Me too)


In a nutshell

If Fitch downgrades U.S. Debt, that's 2 out of the big 3, that would mean the Interest that the U.S. has to pay on its debt could go up dramatically...
 Quoting: Saddletramp


Would also affect the US's ability regarding further additional borrowing.

Moody's was also discussing a downgrade late last year - that may well still be in play - especially if Fitch moves, they may be more inclined to jump on the boat.

Good find OP
 Quoting: ClydeX


Oblabla doesn't need to borrow any more. He just has Benny print up a few trillion when the need arises. Benny just pulls it out of his ass, and the spending resumes
Hope for the best, but prepare for the worst.
"America is at that awkward stage. It's too late to work within the system, but too early to shoot the bastards." -- Claire Wolfe
The Right Policy

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01/15/2013 05:57 PM

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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
China will keep feeding the greedy 0bama to get the interst payments alone up over our GDP. Only then will Zero leave and the shoe will drop, and there truly will be an inheritance of "the worst financial since the great depression".
The Right Policy is Always Conservative

"The danger to America is not Barack Obama, but a citizenry capable of entrusting a man like him with the Presidency. It will be far easier to limit and undo the follies of an Obama presidency than to restore the necessary common sense and good judgment to a depraved electorate willing to have such a man for their president. The problem is much deeper and far more serious than Mr. Obama, who is a mere symptom of what ails America . Blaming the prince of fools should not blind anyone to the vast confederacy of fools that made him their prince. The Republic can survive a Barack Obama, who is, after all, merely a fool. It is less likely to survive a multitude of fools, such as those who made him their President." - Vaclav Klaus
Anonymous Coward
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01/15/2013 05:59 PM
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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
The sad thing is Eagan Jones has downgraded the US several times, but nobody cares about the only ratings agency that is even remotely legit. In fact, I'm surprised the DEA hasn't mysteriously found drugs in the offices yet...
Anonymous Coward
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01/15/2013 06:02 PM
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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
BUT ..... Bammy 'promised change' ( among other things that HAVEN'T happened ) and you WILL get 'change' in your POCKETS; NOTHING in your WALLET !
Limpan

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01/15/2013 06:04 PM

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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
This doesn't really matter anymore.

yeahsure
Dr. Charles Norris

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01/15/2013 06:10 PM
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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
BUT ..... Bammy 'promised change' ( among other things that HAVEN'T happened ) and you WILL get 'change' in your POCKETS; NOTHING in your WALLET !
 Quoting: Anonymous Coward 31897366


Thread: USA Citizens are SHEEP!!!!!!!

sheep
Anonymous Coward
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01/15/2013 06:24 PM
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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
This doesn't really matter anymore.

yeahsure
 Quoting: Limpan


Isn't that the damn truth. The only buyer of treasuries left is the US FRB. Getting crumbly out there.
Anonymous Coward
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01/15/2013 06:25 PM
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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
If they really said failure to raise the debt limit will result in a downgrade they are either idiots or they are trying to spook everyone to an easy debt limit increase. It SHOULD BE- raising the debt limit will result in a downgrade.
And for the tards- failure to raise the limit is not default.
Saddletramp (OP)
We Don't Rent Pigs...

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01/15/2013 06:34 PM

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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
The sad thing is Eagan Jones has downgraded the US several times, but nobody cares about the only ratings agency that is even remotely legit. In fact, I'm surprised the DEA hasn't mysteriously found drugs in the offices yet...
 Quoting: Anonymous Coward 1382145


You know the SEC tried to prosecute them for some bullshit on one of their quarterlies, I think they finally settled it, but it was direct retaliation for one of their downgrades of US Debt...

Last Edited by Saddletramp on 01/15/2013 06:34 PM
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Crazy Harriet

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01/15/2013 06:34 PM

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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
I guess everyone is on "Gun Doom" today...

Why do you think they put this out now...

So you wouldn't be paying attention...

scratching
 Quoting: Saddletramp


That is the norm. Get us looking at the right hand and get in the punch with the left.

Remember that memo that went around Downing street (British PM's office) when 911 happened in 2001? It said, and I paraphrase, that if there was any bad news, this was a good time to make it public. That was so cynical, the memo caused a bit of a flap.
It is in the interest of Tyrants to reduce the people to Ignorance and Vice. For they cannot live in any Country where Virtue and Knowledge prevail. The religion and public Liberty of a People are intimately connected; their Interests are interwoven, they cannot subsist separately; and therefore they rise and fall together. For this Reason, it is always observable, that those who are combined to destroy the People’s Liberties, practice every Art to poison their Morals. Sam Adams
Saddletramp (OP)
We Don't Rent Pigs...

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01/15/2013 06:38 PM

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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
This doesn't really matter anymore.

yeahsure
 Quoting: Limpan


Yeah, it will. The Fed is buying a lot of long term debt, but short term debt is still played on the market. This would have a major effect on that...

And some on the Fed Board (probably more for show) want to end the Treasury purchases by the Fed. I know that's not going to happen as long as China is unloading our debt, but I still think it would have a profound effect on Interest rates, currency exchanges, markets...

It could be a real trigger event...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Anonymous Coward
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01/15/2013 06:38 PM
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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
Question:

At what point would a downgrade of of USA credit kick off a credit default swap problem - or would it?

Is that an issue?
Saddletramp (OP)
We Don't Rent Pigs...

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01/15/2013 06:41 PM

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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
China will keep feeding the greedy 0bama to get the interst payments alone up over our GDP. Only then will Zero leave and the shoe will drop, and there truly will be an inheritance of "the worst financial since the great depression".
 Quoting: The Right Policy


China's position in the U.S. Debt market has declined every year since 2010, and if you look at the composition of that debt, it's much more heavily weighted to short term debt now...1 to 3 year stuff...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Saddletramp (OP)
We Don't Rent Pigs...

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01/15/2013 06:42 PM

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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
Question:

At what point would a downgrade of of USA credit kick off a credit default swap problem - or would it?

Is that an issue?
 Quoting: Anonymous Coward 27112816


I don't think Credit Default Swaps would be an issue as long as we weren't in official default. It would have a huge effect on Interest Rate Swaps...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Hardwired

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01/15/2013 06:54 PM

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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
uncle sam beggar
 Quoting: goldielucks


The sooner the rotting Empire collapses, the better for us all.
Saddletramp (OP)
We Don't Rent Pigs...

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01/15/2013 06:58 PM

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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
uncle sam beggar
 Quoting: goldielucks


The sooner the rotting Empire collapses, the better for us all.
 Quoting: Hardwired


Of course these Credit Ratings Agencies are prone to use downgrade threats to move legislation they want passed in countries...

But IF they were to actually go ahead with this...it might well be the trigger that started the avalanch of collapse...of course the process really started a long time ago...

Last Edited by Saddletramp on 01/15/2013 06:59 PM
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Spittin'Cesium

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01/15/2013 07:22 PM

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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
drunkfuck

george

andsoitbegins
The thing that hath been,
is That which shall be;
and that which is done is that which shall be done:and there is no new thing under the Sun.
Ecclesiastes 9:1
Anonymous Coward
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01/15/2013 08:18 PM
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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
Some nasty inflation coming to America, when all those Dollars they've been exporting for the last few decades return home.
Saddletramp (OP)
We Don't Rent Pigs...

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01/15/2013 08:23 PM

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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
Some nasty inflation coming to America, when all those Dollars they've been exporting for the last few decades return home.
 Quoting: Anonymous Coward 14317225


Yeah it's gonna be rough to soak all that "cash" (most of it is electronic) up...

People are gonna shit when they have to pay $10 for a loaf of bread...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Resister

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01/15/2013 08:45 PM
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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
Perhaps this is part of the reason Germany is taking back their 3000+ tons of gold. Thread: BULLETIN*** GERMANS SUDDENLY MOVING ALL GOLD BACK TO GERMANY FROM FOREIGN BANKS
"God forbid we should ever be 20 years without such a rebellion. The people cannot be all, & always, well informed... If they remain quiet under such misconceptions it is a lethargy, the forerunner of death to the public liberty... Let them take arms... What signify a few lives lost in a century or two? The tree of liberty must be refreshed from time to time with the blood of patriots & tyrants. " - Thomas Jefferson in 1787
[link to line-in-the-sand.spam]
Saddletramp (OP)
We Don't Rent Pigs...

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01/15/2013 08:48 PM

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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
Perhaps this is part of the reason Germany is taking back their 3000+ tons of gold. Thread: BULLETIN*** GERMANS SUDDENLY MOVING ALL GOLD BACK TO GERMANY FROM FOREIGN BANKS
 Quoting: Resister


I hope they still have some gold to move home...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
Anonymous Coward
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01/15/2013 10:11 PM
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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
Some nasty inflation coming to America, when all those Dollars they've been exporting for the last few decades return home.
 Quoting: Anonymous Coward 14317225


Yeah it's gonna be rough to soak all that "cash" (most of it is electronic) up...

People are gonna shit when they have to pay $10 for a loaf of bread...
 Quoting: Saddletramp


They wont pay 10 dollars for a loaf of bread they wont be able to afford it.
Anonymous Coward
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01/15/2013 10:57 PM
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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
So maybe one of you financial guys can answer me this question: If China takes all of it's cash and buys up American commodities, forests, land, housing, mega farms and the like, even more than they have so far, then dumps a crapload of their T-bills, they really wouldn't lose much would they? And when the dollar crashed shortly thereafter, they could still make a ton of profits selling us our own food and in rent payments, wouldn't they? How long would it take to pull off that plan?
Chrit

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01/15/2013 10:59 PM

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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
So maybe one of you financial guys can answer me this question: If China takes all of it's cash and buys up American commodities, forests, land, housing, mega farms and the like, even more than they have so far, then dumps a crapload of their T-bills, they really wouldn't lose much would they? And when the dollar crashed shortly thereafter, they could still make a ton of profits selling us our own food and in rent payments, wouldn't they? How long would it take to pull off that plan?
 Quoting: Black Knight


And buying our assests for pennys on the dollar just like what hapened to iceland. Would not take long at all.

Icelandsvalue
I'm only human, it's my biggest flaw.

We must all realize a sink a chair and a pillow are all luxuries of home and a soldiers helmet takes the place of all three.
WAKEUPAMERICA01

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01/15/2013 11:09 PM

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Re: Fitch Prepares To Downgrade U.S. Credit Rating...
bump and five stars.
WAKE UP AMERICA
"I love the man that can smile in trouble, that can gather strength from distress, and grow brave by reflection. 'Tis the business of little minds to shrink; but he whose heart is firm, and whose conscience approves his conduct, will pursue his principles unto death."
Thomas Paine, The American Crisis, No. 1, December 19, 1776
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Thomas Paine, The American Crisis, No. 4, September 11, 1777
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