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WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!

 
Anonymous Coward
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03/20/2010 05:17 PM
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WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
<NO GOOD WITH 1.2 TRILLION CURRENT DEFICIT + HC REFORM )

[link to seekingalpha.com]



Fitch: U.S. and U.K. Need to Cut Budget Deficits by 6-7 Percentage Points to Bolster AAA Ratings 3 comments
by: Research Recap March 19, 2010 |

Fitch Ratings suggests that the US and the UK need to cut their primary budget deficits by 6-7 percentage points of GDP to be sure of maintaining their AAA sovereign debt ratings.

In a presentation to the recent HSBC AAA Issuer and Investor Summit, Fitch says that the most effective manner to minimize “confidence shocks” and the risk of financing distress is for governments to recognize the size of the fiscal challenge and set out and implement credible plans to place public finances on a sustainable path. (Click to enlarge)


The horizontal axis shows the change in the primary (ie. non-interest) budget balance as a percentage of GDP that will be necessary to stabilise debt at its 2011 levels — shown on the vertical axis — given current official fiscal projections.

It is evident that several governments face significant budgetary adjustment in the order of 4pp-7pp of GDP just to stabilize the public debt ratio at the elevated levels projected for end-2011.

“In Fitch’s opinion, the credibility of fiscal consolidation plans would be greatly strengthened by commitment to save positive fiscal surprises, contingency measures in the event of negative fiscal surprises as well as explicit debt and deficit reduction targets. It is also important that sufficient detail and transparency on the key revenue and spending measures is provided so that independent commentators can subject such plans to analysis and investors can track implementation.”
Anonymous Coward
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03/20/2010 05:21 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
yawn Wall Street will say "That's less than expected" and rally on the news.
Anonymous Coward
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03/20/2010 05:27 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
PIN!
Anonymous Coward
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03/20/2010 05:28 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
Actually, the best possible thing that could happen to us would be for the Chinese to stop buying up our debt.

That's about the only thing that would bring those shitheads in Washington to their senses.

Or more likely, it would bring the rest of us to our senses, so we'd throw every one of those cocksuckers in prison and start over.
aVian

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03/20/2010 05:29 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
yawn Wall Street will say "That's less than expected" and rally on the news.
 Quoting: Anonymous Coward 921033


no fucking shit and paid for by TARP
"When plunder becomes a way of life for a group of men living together in society, they create for themselves, in the course of time, a legal system that authorizes it and a moral code that glorifies it."
- Frédéric Bastiat

food, water, ammo, weapons, battery back up solar, hand well pump, wood stove and 1 year of food...oh yeah PM's too...good luck
Anonymous Coward
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03/20/2010 05:35 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
<Sarcasm On>

Oh hell, HC reform and Cap&Tax will generate the missing revenue. Yeah, O will save our AAA rating and not impact the bankers, brokers, insurance co's and pharma. Oh and lets not forget the unions, GE, and last but not least George Soros.

<Sarcasm Off>
Anonymous Coward
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03/20/2010 05:37 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
yawn Wall Street will say "That's less than expected" and rally on the news.


no fucking shit and paid for by TARP
 Quoting: aVian


Yup.
And now "deathcare reform".

+1
DAUNTLESS

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03/20/2010 05:44 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
<Sarcasm On>

Oh hell, HC reform and Cap&Tax will generate the missing revenue. Yeah, O will save our AAA rating and not impact the bankers, brokers, insurance co's and pharma. Oh and lets not forget the unions, GE, and last but not least George Soros.

<Sarcasm Off>
 Quoting: Anonymous Coward 526297


Hey AC 526297,

I like your idea of <Sarcasm On>, <Sarcasm Off>.

You should start another thread to convince Trinity to create this option when posting. I will bump the hell out of it. It is your idea so you should get credit.

I know it would alleviate "a lot". Good idea.

Last Edited by DAUNTLESS on 03/20/2010 05:45 PM
Independent Thought
Dauntless Mind
Unconditional Love
Anonymous Coward
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03/20/2010 05:45 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
Actually, the best possible thing that could happen to us would be for the Chinese to stop buying up our debt.

That's about the only thing that would bring those shitheads in Washington to their senses.

Or more likely, it would bring the rest of us to our senses, so we'd throw every one of those cocksuckers in prison and start over.
 Quoting: Anonymous Coward 5854


Unfortunately, the Chinese don’t buy the vast amount of debt the Treasury issues. The Federal Reserve prints the money (via digits in a computer) and they buy the debt. Thus, the rating that Fitch places on our Sovereign debt is irrelevant. Until this practice stops and the debt is officially placed on the books of the US Treasury (to be paid by the US taxpayers) nothing is real. Welcome to fiat currency. Where is my pitchfork??
DAUNTLESS

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03/20/2010 05:49 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
Actually, the best possible thing that could happen to us would be for the Chinese to stop buying up our debt.

That's about the only thing that would bring those shitheads in Washington to their senses.

Or more likely, it would bring the rest of us to our senses, so we'd throw every one of those cocksuckers in prison and start over.


Unfortunately, the Chinese don’t buy the vast amount of debt the Treasury issues. The Federal Reserve prints the money (via digits in a computer) and they buy the debt. Thus, the rating that Fitch places on our Sovereign debt is irrelevant. Until this practice stops and the debt is officially placed on the books of the US Treasury (to be paid by the US taxpayers) nothing is real. Welcome to fiat currency. Where is my pitchfork??
 Quoting: Anonymous Coward 914726


Don't you wish your family thought of lending money to governments and have it backed by the government's tax payers?

I do.
Independent Thought
Dauntless Mind
Unconditional Love
Anonymous Coward
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03/20/2010 05:51 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
Actually, the best possible thing that could happen to us would be for the Chinese to stop buying up our debt.

That's about the only thing that would bring those shitheads in Washington to their senses.

Or more likely, it would bring the rest of us to our senses, so we'd throw every one of those cocksuckers in prison and start over.
 Quoting: Anonymous Coward 5854

You build great buildings all your life and do they call you a great architect? NO!
You build great cars all your life and do they call you a great carmaker? NO!
But you suck one cock, just on, in your whole lifetime and they call you a cocksucker.
ProudFossil

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03/20/2010 05:54 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
You build great buildings all your life and do they call you a great architect? NO!
You build great cars all your life and do they call you a great carmaker? NO!
But you suck one cock, just on, in your whole lifetime and they call you a cocksucker.
 Quoting: Anonymous Coward 920794


Did you enjoy it?
Anonymous Coward
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03/20/2010 06:00 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
Your kid's FUTURE is LOCKed. You have nothing to worry.
Adamas

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03/20/2010 06:22 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
Wall Street: *Steals all your money*
...
Wall Street: "Tsk tsk, you have no money. No AAA rating for you! Get a job you bum!"
And always, he fought the temptation to choose a clear, safe course, warning: "That path leads ever down into stagnation."
Anonymous Coward
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03/20/2010 06:33 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
bsflag


>>>>>>>>>>>WRONG - We need to increase production<<<<<<<<<<<<<<<


WE NEED THE IDIOTS OUT OF OFFICE - NOW
Anonymous Coward
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03/20/2010 06:51 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
Actually, the best possible thing that could happen to us would be for the Chinese to stop buying up our debt.

That's about the only thing that would bring those shitheads in Washington to their senses.

Or more likely, it would bring the rest of us to our senses, so we'd throw every one of those cocksuckers in prison and start over.
 Quoting: Anonymous Coward 5854



China is in trouble and they know it.

If the US currency collapses they lose 25% of their exports.

But thats not all.

If the US currency collapses Europe loses 45% of their exports. Europe doesn't have an export led economy though.

So what will Europe do? They will inflate their currency to try to keep up with the US so that the US doesn't have a trade advantage.


The whole house will fall with the US being at the bottom and infested with termites.

If I were the US I would set on an EMP on China before it's too late.
Rokit5

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03/20/2010 06:57 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
Spot on dude.

This practice of 'indirect buyers' in treasury auctions (when we all know it's the treasury themselves) must stop, but it won't, because this is the whole point of it all.

This was always meant to happen, and it will. That doesn't mean we don't have options - because we ALWAYS HAVE OPTIONS

But it does mean that certain things, like the collapse of the western economic powerhouses and the transfer of power, will happen, like it or not.

Actually, the best possible thing that could happen to us would be for the Chinese to stop buying up our debt.

That's about the only thing that would bring those shitheads in Washington to their senses.

Or more likely, it would bring the rest of us to our senses, so we'd throw every one of those cocksuckers in prison and start over.


Unfortunately, the Chinese don’t buy the vast amount of debt the Treasury issues. The Federal Reserve prints the money (via digits in a computer) and they buy the debt. Thus, the rating that Fitch places on our Sovereign debt is irrelevant. Until this practice stops and the debt is officially placed on the books of the US Treasury (to be paid by the US taxpayers) nothing is real. Welcome to fiat currency. Where is my pitchfork??
 Quoting: Anonymous Coward 914726

Anonymous Coward
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03/20/2010 07:00 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
Europe is fucked because Spain is fucked.

The US is fucked because states are fucked.

China is fucked because Europe and the US are fucked.

WE'RE ALL FUCKED!

The only ones not fucked are South America.
Anonymous Coward (OP)
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03/20/2010 07:18 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
Europe is fucked because Spain is fucked.

The US is fucked because states are fucked.

China is fucked because Europe and the US are fucked.

WE'RE ALL FUCKED!

The only ones not fucked are South America.
 Quoting: Anonymous Coward 921092



We are too !!
At least Mexico is fucked 'cause our exports to US are down big time ...and for a long future !!
No jobs , debt is high , etc !! Doomed !!
Anonymous Coward
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03/20/2010 07:20 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
The only ones not fucked are South America.
 Quoting: Anonymous Coward 921092


guess you haven't kept up with the news but Chile is in shambles physically and Argentina is in shambles financially. In fact, most of it is. Chile WAS the strongest.
Anonymous Coward
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03/20/2010 07:59 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
That is a piece of cake...



Fire everyone in Congressabomb...
Anonymous Coward
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03/20/2010 08:01 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
considering the ratings agencys are joke. And in the pocket of the elites its obviously another ploy to screw all the rest of us peasants.
Anonymous Coward
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03/20/2010 08:03 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
instead of all this bullsheet financial crapp the elites are pulling now to slowly bring everyone into the new world order. Slavery. Why don't they just say were all broke and then watch us all get our moneys worth from the elites who stole all our money.
Anonymous Coward
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03/20/2010 08:05 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
Fitch needs to hurry up and downgrade the U.S. credit, otherwise they should just STFU. Same thing goes for Moody's.
Anonymous Coward
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03/20/2010 08:05 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
yawn Wall Street will say "That's less than expected" and rally on the news.


no fucking shit and paid for by TARP
 Quoting: aVian


Yep ,. more good times for the wall street banksters. Summers coming. They all need new bigger yaughts. Too bad the peasants will suffer. I'm sure the wall street banksters will feel bad about it. Har, har.
Anonymous Coward
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
Actually, the best possible thing that could happen to us would be for the Chinese to stop buying up our debt.

That's about the only thing that would bring those shitheads in Washington to their senses.

Or more likely, it would bring the rest of us to our senses, so we'd throw every one of those cocksuckers in prison and start over.


Unfortunately, the Chinese don’t buy the vast amount of debt the Treasury issues. The Federal Reserve prints the money (via digits in a computer) and they buy the debt. Thus, the rating that Fitch places on our Sovereign debt is irrelevant. Until this practice stops and the debt is officially placed on the books of the US Treasury (to be paid by the US taxpayers) nothing is real. Welcome to fiat currency. Where is my pitchfork??


Don't you wish your family thought of lending money to governments and have it backed by the government's tax payers?

I do.
 Quoting: DAUNTLESS



nice work if you can get it.whatta scam.
Anonymous Coward
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03/20/2010 08:06 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
Fitch needs to hurry up and downgrade the U.S. credit, otherwise they should just STFU. Same thing goes for Moody's.
 Quoting: Anonymous Coward 860469


Ahhh, Its all bussheeet. the ratings agency are total bullsheet. thus all the hard times had by the peasants and the great times being had by the banksters.
Anonymous Coward
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03/20/2010 08:07 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
England will get downgraded first. The US won't be far behind.
Anonymous Coward
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03/20/2010 08:09 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
the foxes(new york and london banksters) run the henhouse (World financial system). Thus all the good eating of the chickens(us the peasants).
Defendor

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03/20/2010 08:09 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
Ron Paul and many have warned us. This is what we get for allowing the corruption to go unchecked for so long. I actually feel bad for our grandchildren. We've doomed them to a life of slavery.
Anonymous Coward
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03/20/2010 08:12 PM
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Re: WTF !! FITCH : U.S AND U.K NEED TO CUT BUDGET DEFICITS BY 6-7 % TO BOLSTER AAA RATING !!
Ron Paul and many have warned us. This is what we get for allowing the corruption to go unchecked for so long. I actually feel bad for our grandchildren. We've doomed them to a life of slavery.
 Quoting: Defendor


I feel bad for anyone right now.The entire financial system of the world is being manipulated to collapse very soon. First will be super deflataion and then super inflation. And then we'll all be eating dirt. I"m guessing with in a year or two.





GLP