Doesn't even AA+ seem bit high (higer credit-rating than Saudis, China etc? ) considering even a discussion about stopping payments of the countrys debt?? I think that is unheard of in other countries, than the likes of Greece which they rate CCC.... But I guess S&P, Moodys, Fitch mgmt-team would be deemed anti-american giving lower rating, as it would mean higher interest on loans?
Lol, you have a knack for supersizing things. It took me quite some time to browse through all those long articles. Ok, so Ronald Reagan's multi-trillion proposal for his six-year defence budget probably didn't go through, otherwise the percentage would have been much higher. But the debt problem did begin in 1980. And yes, the rising healthcare cost is a major problem, not just in the US. By the way, was the Star Wars program scraped?
I mean, I'm not from the US. Otherwise I'll be in a dilemma in having to make a choice. That is one of the major pitfalls of a democracy, especially when the voters are equally polarised between two camps. The incumbent usually has to cater to the whims of the public in order to retain his popularity, making policies which are detrimental to the economy in the long term.
It's a real inopportune time for Standard & Poor's to make such an announcement, after the markets barely pulled through with the news of a rise in the payrolls of 117,000, exceeding the median estimate of 85,000, and also rumours of the ECB deciding to buy Spanish and Italian bonds. But at least they announced it after hours, allowing investors to have all weekend to digest the information, and not do something impulsive. Here is the Oracle of Omaha's take on the downgrade: http://www.foxbusiness.com/markets/2011/08/05/buffett-to-fbn-sp-downgrade-doesnt-make-sense/ In last year's flash crash, the VIX index made a substantial move just before the correction, signifying what I think is investors perceiving the market as highly overbought. This time, the VIX moved up after the market corrected. I hope there isn't any more selling tomorrow.
Anyway, if the analyst are so good and credible, their stocks will go through the roof isn't it? Ironic.
http://news.yahoo.com/obama-says-inherited-economic-problems-001543865.html Typical Obama. Blame it on someone else. My question is, if I take a car to a shop to have my block head work on. When I pick up the car, the shop told me they fixed the Air Condition (which is close to broke) but the head is already bad and mechanic say he can not fix it because it was wore out when I brought the car in. And turn out the AC broke 2 days later. So should I go back to the same shop and have the mechanic to work on the head again?
http://finance.yahoo.com/news/Fed-to-keep-interest-rate-apf-111449019.html?x=0 Short version, we are going to have tough econ time for the next 2 years. And we have fired our last bullet in QE2 and next QE will do more harm than help right now. So we are not going to do another QE now.
USA won't be climbing out of the recession anytime soon. I think it'll be 4-5 years before things get better. Canada will also go into a recession as well (if we aren't already). Cuz about 70% of our trades/economic ties are with the USA. We won't be in a recession too long though. Prime Minister Harper is already slashing thousands of Federal Government jobs and budgets to reduce the deficit (get a balanced budget).
wow. goldman sach is down also. Looks like it is going to be a long road ahead.. Enjoy badminton then. I've sold all my stakes and come back later. This euro france thingy is gonna be for a while. Gold people, gold... aha.. http://www.youtube.com/watch?v=th7G45eSbys http://www.reuters.com/article/2011/08/10/us-hedgefunds-paulson-idUSTRE7796QF20110810
I feel bad for my Canadian friends. It is our screw up in US and you guys also suffer with us. Sorry my friends up north.
Here is another one of the great Broke story http://www.cnn.com/2011/POLITICS/08/10/obama.economy/index.html?eref=mrss_igoogle_cnn Tell me some thing. Even when fully operational, $299mil to create 500 jobs? If I can print $299 mil, I think I can create 600 jobs. Also another 100 that blow or suck depend on your choice.
haha.. good one. but what choice do they have? blow and suck is not going to be enough. Italy will default 1 trillion in November. Will Obama loan to them? Will you? lol. Oh. I like the chart. Looks like devils horn building up. http://www.stealthstocksonline.com/index.aspx?page=Video892011&r1=IWA081011&dc=JM001&em=
..bottom for housing market, it looks like it has pretty much finally hit rock bottom (looks like it will stay about the same for next 1-2 yrs until economy finally starts to heal)..house prices have been stable, yet still plenty of inventories, actually dropping a bit since last yr..so anyone from overseas who has plenty of ca$h, now is the best time to come to the U.S./California and invest in real estate.. - Debt problem started/began much2 earlier than 1980 (Reagan's yrs). Basically from start of WWI. It just seems to spike up in modern times during his tenure. - The "Star Wars" or SDI system was never fully set up, but the research from this paved the way for the anti-ballistic missile systems in recent yrs, including the Patriot missile that provided the defense against Iraqi Scud missiles launched against American forces and Israel during the Gulf War. It is believed by some experts that the Soviet's response necessitated by SDI contributed to their financial and political collapse. As for the recent Congress' decision on Aug. 2, the debt problem is not solved but gonna get worse..
