S&P downgrades U.S. credit rating from AAA to AA+

Thanks Projack

To clarify my posting of the Bloomberg article...

It seems that now they are getting ready to shoot the messenger !

:cool:
 
American Interest Expense Fiscal Year 2011:
$412,517,504,466.06
+
$80,000,000,000.00 in extra repayments due to downgrade.
 
Ozboy said:
Strap yourself in and hang on! - this could be one helluva ride.
Click to expand...

(hands out the barf bags) Keep your arms and legs inside the carriage at all times. Good luck, all.

Somewhere.... some poor bastard retired on Friday, and was going to sort out his Super tomorrow. :(
 
Another classic article:
http://www.cnbc.com/id/44051683

From Greenspan, former fed chairman:

"The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default" said Greenspan on NBC's Meet the Press

"What I think the S&P thing did was to hit a nerve that there's something basically bad going on, and it's hit the self-esteem of the United States, the psyche" said Greenspan
Click to expand...
 
Following Greenspans logic every country with national currency is AAA because the can print it.
 
projack said:
Following Greenspans logic every country with national currency is AAA because the can print it.
Click to expand...

There are rules for US and their are different rules for "the rest of the world". Greenspan knows it better than anyone and his statement essentially rubs our noses in that fact.
 
projack said:
Following Greenspans logic every country with national currency is AAA because the can print it.
Click to expand...

The US is unlike any other country. Its special.
 
It's only SPECIAL cos the rest of the world is too silly (or too scared) to see the real shell-game that they are abusing since the abolition of Bretton Woods agreement...

:cool:
 
projack said:
Following Greenspans logic every country with national currency is AAA because the can print it.
Click to expand...


Well, they are different.

They are the only country where the national debt is expressed in their national currency.

Their problems are easily solved, inflate the debt away.

And thats why we are buying gold.
 
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