US Credit Rating Downgraded...Again

[buckstopshere]

Moody will be following suit in the coming days.

The Fed is tanking the dollar folks. Hard assets are where it's at.

QE3 Sparks U.S. Credit Ratings Downgrade From Egan-Jones | Fox Business

 

[smokingman]

May as well add Moody's to the list.
http://www.nytimes.com/2012/09/12/business/moodys-issues-warning-on-us-debt.html?_r=0

 

[buckstopshere]

Hard assets my friends.

 

[Super Bee]

I am sure all three "Big" news outlets will be leading with this story.

No, no that's right, they are leading with the $4.00 a gallon gas prices. Chuck Shummer will be holding a press conference to express his outrage.

Nope, wait they are leading with there have been 2121 U.S. soldiers killed so far in Afghanistan. While 630 of those deaths occurred in 8 years under Bush, 1491 of those deaths have occurred in less than 3 1/2 years under Obama.

 

[rambone]

 

[jedi]

WOW just 4 comments on this post and I do not think I ever saw it on the main stream media.

 

[buckstopshere]

Up until smokingman bumped this thread with the Moody's downgrade, it sat here without any notice.

I was going to bump it a few days after I started it but thought, meh, clearly no one gives a crap.

It's actually a pretty decent example of how easily we get distracted by choosing dumb or dumber.

Or, it's just a boring topic.

 

[smokingman]

I know the US down grade is a big deal in the large picture.That said with the Federal Reserve now buying 91% of all US Treasuries(74% of them for the past year)and setting interest rates at zero until at least 2015 the effect will be minimal.
Since the FED is just printing money to buy our debt,and control the interest rate on that debt(forcing it to all time lows) we will not even notice any change from the downgrade.

There will be a change though.We are losing world reserve currency status,and the downgrades are just speeding that up.

So short term it will not affect treasury rates or raise the interest on our debt,long term it guarantees a loss of our reserve status.

 

[mlzoiss]

And yet there are still way too many people out there willing to reelect the idiots who let this happen on their watch?

 

[1donos]

Isn't everyone going to get inflation+ cost of living increases? The money is free all they have to do is make a journal entry and drink the koolaid.

 

[IndyDave1776]

Up until smokingman bumped this thread with the Moody's downgrade, it sat here without any notice.

I was going to bump it a few days after I started it but thought, meh, clearly no one gives a crap.

It's actually a pretty decent example of how easily we get distracted by choosing dumb or dumber.

Or, it's just a boring topic.

Not necessarily. Some of us are just really busy and not the least bit surprised that this is happening. In fact, it is a necessary consequence of the present course of action. Of course, the majority of sheep are just saying to themselves. "everything is going to be OK...everything is going to be OK..."

 

[Kirk Freeman]

How is this a surprise?

Japan had to do what, 8 or 9 devaluations?

Too many treats for .gov to pay for. There will be further downgrades.

 

[buckstopshere]

Not necessarily. Some of us are just really busy and not the least bit surprised that this is happening. In fact, it is a necessary consequence of the present course of action. Of course, the majority of sheep are just saying to themselves. "everything is going to be OK...everything is going to be OK..."

Yeah, have you seen the official status update? I'm a busy guy, demanding job, lots of travel, hubby, father, sole bread winner, blah, blah.

It's just hard to make that argument given other threads. No big deal, this just isn't a topic that seems to get a lot of response, for whatever the reason. People don't give a crap, don't know what to think of it, aren't surprised, etc...

 

[buckstopshere]

How is this a surprise?

Japan had to do what, 8 or 9 devaluations?

Too many treats for .gov to pay for. There will be further downgrades.

No doubt there will be further downgrades. Doesn't mean that each one isn't news worthy.

 

[HeadlessRoland]

We're a few notches above junk grade.

 

[IndyDave1776]

Yeah, have you seen the official status update? I'm a busy guy, demanding job, lots of travel, hubby, father, sole bread winner, blah, blah.

It's just hard to make that argument given other threads. No big deal, this just isn't a topic that seems to get a lot of response, for whatever the reason. People don't give a crap, don't know what to think of it, aren't surprised, etc...

I can understand the frustration. I suppose I have just reached the point that I take the ship sinking as a foregone conclusion and have been focusing on making sure the raft is in order rather than fretting over the inevitable. Perhaps I am too pesimistic, but I don't see anything encouraging and everything I know about history tells me that we are in for it.

 

[buckstopshere]

I can understand the frustration. I suppose I have just reached the point that I take the ship sinking as a foregone conclusion and have been focusing on making sure the raft is in order rather than fretting over the inevitable. Perhaps I am too pesimistic, but I don't see anything encouraging and everything I know about history tells me that we are in for it.

I wouldn't say you're being pessimistic but rather realistic. We are going full bore with getting our house in order, eliminating debt, buying hard assets, etc...

It's the smart move right now.

 

[rambone]