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| 03:58 AM | ||
| Users Online Now: 959 (Who's On?) | Visitors Today: 180,810 | |
| Pageviews Today: 301,509 | Threads Today: 94 | Posts Today: 1,896 |
| 03:58 AM | ||
Fitch Prepares To Downgrade U.S. Credit Rating... | |
| Anonymous Coward User ID: 16978244  United States01/15/2013 05:28 PM Report Abusive Post Report Copyright Violation | |
Chrit  User ID: 27088294 United States01/15/2013 05:38 PM Report Abusive Post Report Copyright Violation | This is the real news, everything else is a distraction. The CBO’s alternative scenario is on us.  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 User ID: 11310285 United States01/15/2013 05:40 PM Report Abusive Post Report Copyright Violation | This is a bit more serious than when Egan Jones does it... Quoting: Saddletramp 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...  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... 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 User ID: 32106545 United States01/15/2013 05:42 PM Report Abusive Post Report Copyright Violation | |
| Corn Dog User ID: 28518686 United States01/15/2013 05:53 PM  Report Abusive Post Report Copyright Violation | 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 User ID: 26240425 United States01/15/2013 05:57 PM Report Abusive Post Report Copyright Violation | This is a bit more serious than when Egan Jones does it... Quoting: Saddletramp 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... 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... 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 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 User ID: 31219881 United States01/15/2013 05:57 PM Report Abusive Post Report Copyright Violation | 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 User ID: 1382145 United States01/15/2013 05:59 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 31897366 United States01/15/2013 06:02 PM Report Abusive Post Report Copyright Violation | |
| Limpan User ID: 1474973  Sweden01/15/2013 06:04 PM  Report Abusive Post Report Copyright Violation | |
| Dr. Charles Norris User ID: 32106545 United States01/15/2013 06:10 PM Report Abusive Post Report Copyright Violation | 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!!!!!!!  |
| Anonymous Coward User ID: 10097155 United States01/15/2013 06:24 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 23482698 United States01/15/2013 06:25 PM Report Abusive Post Report Copyright Violation | 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) User ID: 739427  Puerto Rico01/15/2013 06:34 PM Report Abusive Post Report Copyright Violation | 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..." "We don't rent pigs!" |
| Crazy Harriet User ID: 31731473 United States01/15/2013 06:34 PM Report Abusive Post Report Copyright Violation | I guess everyone is on "Gun Doom" today... Quoting: Saddletramp Why do you think they put this out now... So you wouldn't be paying attention...  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. "I would rather take a political risk in pursuit of peace, than risk peace in pursuit of politics." - Donald Trump |
| Saddletramp (OP) User ID: 739427 Puerto Rico01/15/2013 06:38 PM Report Abusive Post Report Copyright Violation | 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..." "We don't rent pigs!" |
| Anonymous Coward User ID: 27112816 United States01/15/2013 06:38 PM Report Abusive Post Report Copyright Violation | |
| Saddletramp (OP) User ID: 739427 Puerto Rico01/15/2013 06:41 PM Report Abusive Post Report Copyright Violation | 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..." "We don't rent pigs!" |
| Saddletramp (OP) User ID: 739427 Puerto Rico01/15/2013 06:42 PM Report Abusive Post Report Copyright Violation | Question: Quoting: Anonymous Coward 27112816 At what point would a downgrade of of USA credit kick off a credit default swap problem - or would it? Is that an issue? 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..." "We don't rent pigs!" |
| Hardwired User ID: 31719465 United States01/15/2013 06:54 PM Report Abusive Post Report Copyright Violation | |
| Saddletramp (OP) User ID: 739427 Puerto Rico01/15/2013 06:58 PM Report Abusive Post Report Copyright Violation | 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..." "We don't rent pigs!" |
| Spittin'Cesium User ID: 14589973  Netherlands01/15/2013 07:22 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 14317225 Netherlands01/15/2013 08:18 PM Report Abusive Post Report Copyright Violation | |
| Saddletramp (OP) User ID: 739427 Puerto Rico01/15/2013 08:23 PM Report Abusive Post Report Copyright Violation | 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..." "We don't rent pigs!" |
| Resister User ID: 1461638 United States01/15/2013 08:45 PM  Report Abusive Post Report Copyright Violation | Perhaps this is part of the reason Germany is taking back their 3000+ tons of gold. [link to www.godlikeproductions.com] "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 |
| Saddletramp (OP) User ID: 739427 Puerto Rico01/15/2013 08:48 PM Report Abusive Post Report Copyright Violation | Perhaps this is part of the reason Germany is taking back their 3000+ tons of gold. [link to www.godlikeproductions.com] 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..." "We don't rent pigs!" |
| Anonymous Coward User ID: 30054624 United States01/15/2013 10:11 PM Report Abusive Post Report Copyright Violation | 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... They wont pay 10 dollars for a loaf of bread they wont be able to afford it. |
| Anonymous Coward User ID: 4655644 United States01/15/2013 10:57 PM Report Abusive Post Report Copyright Violation | 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 User ID: 27088294 United States01/15/2013 10:59 PM Report Abusive Post Report Copyright Violation | 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.  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 User ID: 20486353 United States01/15/2013 11:09 PM Report Abusive Post Report Copyright Violation |  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 "Those who expect to reap the blessings of freedom, must, like men, undergo the fatigues of supporting it." Thomas Paine, The American Crisis, No. 4, September 11, 1777 "I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power (of money) should be taken away from the banks and restored to the people to whom it properly belongs." -- Thomas Jefferson, U.S. President. "A majority of the people of the United States have lived all of their lives under emergency rule. For 40 years, [79 years now in 2012] freedoms and governmental procedures guaranteed by the Constitution have in varying degrees been abridged by laws brought into force by statutes of national emergency." |
