Home› A Moving Train

Downgraded

inlet13inlet13 Posts: 1,979
edited August 2011 in A Moving Train
For the first time in U.S. history, our credit rating was downgraded. Sad, sad day.
Here's a new demo called "in the fire":

<object height="81" width="100%"> <param name="movie" value="https://player.soundcloud.com/player.swf?url=http://api.soundcloud.com/tracks/28998869&quot;&gt;&lt;/param&gt; <param name="allowscriptaccess" value="always"></param> <embed allowscriptaccess="always" height="81" src="https://player.soundcloud.com/player.swf?url=http://api.soundcloud.com/tracks/28998869&quot; type="application/x-shockwave-flash" width="100%"></embed> </object> <span><a href=" - In the Fire (demo)</a> by <a href="
Post edited by Unknown User on

Comments

  • usamamasan1usamamasan1 Posts: 4,695
    this is/has already been priced in. But yeah, sad.

    WTF is our President doing to this country? What a fuckstick!
  • markin ballmarkin ball Posts: 1,075
    It might be a good thing in the long run. The USA as a nation and a society need a serious wake up call.
    "First they ignore you, then they ridicule you, then they fight you, then you win ."

    "With our thoughts we make the world"
  • inlet13inlet13 Posts: 1,979
    usamamasan1 wrote:
    this is/has already been priced in. But yeah, sad.

    WTF is our President doing to this country? What a fuckstick!

    Dude the kids (in your screen pic) are adorable. Is that a Volcom shirt on the one? If so, good work.
    Here's a new demo called "in the fire":

    <object height="81" width="100%"> <param name="movie" value="https://player.soundcloud.com/player.swf?url=http://api.soundcloud.com/tracks/28998869&quot;&gt;&lt;/param&gt; <param name="allowscriptaccess" value="always"></param> <embed allowscriptaccess="always" height="81" src="https://player.soundcloud.com/player.swf?url=http://api.soundcloud.com/tracks/28998869&quot; type="application/x-shockwave-flash" width="100%"></embed> </object> <span><a href=" - In the Fire (demo)</a> by <a href="
  • markin ballmarkin ball Posts: 1,075
    usamamasan1 wrote:
    this is/has already been priced in. But yeah, sad.

    WTF is our President doing to this country? What a fuckstick!

    How specifically did Obama cause this?
    "First they ignore you, then they ridicule you, then they fight you, then you win ."

    "With our thoughts we make the world"
  • inlet13inlet13 Posts: 1,979
    markin ball wrote:
    It might be a good thing in the long run. The USA as a nation and a society need a serious wake up call.

    100% agreed.
    Here's a new demo called "in the fire":

    <object height="81" width="100%"> <param name="movie" value="https://player.soundcloud.com/player.swf?url=http://api.soundcloud.com/tracks/28998869&quot;&gt;&lt;/param&gt; <param name="allowscriptaccess" value="always"></param> <embed allowscriptaccess="always" height="81" src="https://player.soundcloud.com/player.swf?url=http://api.soundcloud.com/tracks/28998869&quot; type="application/x-shockwave-flash" width="100%"></embed> </object> <span><a href=" - In the Fire (demo)</a> by <a href="
  • usamamasan1usamamasan1 Posts: 4,695
    edited August 2011
    inlet13 wrote:
    Dude the kids (in your screen pic) are adorable. Is that a Volcom shirt on the one? If so, good work.
    Yeah
    Post edited by usamamasan1 on
  • usamamasan1usamamasan1 Posts: 4,695
    markin ball wrote:
    usamamasan1 wrote:
    this is/has already been priced in. But yeah, sad.

    WTF is our President doing to this country? What a fuckstick!

    How specifically did Obama cause this?

    Lack of economic leadership and creating too much uncertainty in the markets.

    Booya!
  • markin ballmarkin ball Posts: 1,075
    usamamasan1 wrote:
    markin ball wrote:
    usamamasan1 wrote:
    this is/has already been priced in. But yeah, sad.

    WTF is our President doing to this country? What a fuckstick!

    How specifically did Obama cause this?

    Lack of economic leadership and creating too much uncertainty in the markets.

    Booya!

    What did he do or not do to create uncertainty in the markets? How could he have been more of an economic leader? Specifically, please. Present some examples, if you may.
    "First they ignore you, then they ridicule you, then they fight you, then you win ."

    "With our thoughts we make the world"
  • JOEJOEJOEJOEJOEJOE Posts: 10,619
    inlet13 wrote:
    For the first time in U.S. history, our credit rating was downgraded. Sad, sad day.

    Damn, we shouldn't have ignored the collection notices from the cable company.
  • usamamasan1usamamasan1 Posts: 4,695
    merk, i answered your question. look it up. It's all too clear. I can't teach you this if you don't already know it yourself. speciflcalllly

    i can only show you to the light, you have to walk to it.

    Wippah!
  • LikeAnOceanLikeAnOcean Posts: 7,718
    What does this mean?


    I'm going to enjoy the fresh air tomorrow...





    I'm kind of thinking, If Americans got together and worked their asses off, all of this crap could be eliminated in a year.


    We're all still alive.
  • gimmesometruth27gimmesometruth27 St. Fuckin Louis Posts: 23,303
    markin ball wrote:
    What did he do or not do to create uncertainty in the markets? How could he have been more of an economic leader? Specifically, please. Present some examples, if you may.
    your question is an exercise in futility. prepare for an answer along the lines of "rick perry is the man" or something completely unrelated to the question that you posed.

    fact is, world history apparently did not begin before january 2009, so to certain segments of the american population barack obama is the cause of all of the bad things to have ever happened in this country....

    this is a sad day in american history. even sadder, a group with a 48% disapproval rating is influencing policies to the extent that it is...and they will claim no blame for the downgrade....
    "You can tell the greatness of a man by what makes him angry."  - Lincoln

    "Well, you tell him that I don't talk to suckas."
  • unsungunsung I stopped by on March 7 2024. First time in many years, had to update payment info. Hope all is well. Politicians suck. Bye. Posts: 9,487
    Gob wrote:


    I'm kind of thinking, If Americans got together and worked their asses off, all of this crap could be eliminated in a year.


    Since you mentioned a year....


    Texas Rep. Ron Paul said if he is elected president, he will balance the federal budget in the first year of his term. “I will fight to reduce taxes and remove unconstitutional regulations so that businesses can hire, Americans can get back to work and our economy can truly recover,” he said.
  • brianluxbrianlux Moving through All Kinds of Terrain. Posts: 42,435
    usamamasan1 wrote:
    this is/has already been priced in. But yeah, sad.

    WTF is our President doing to this country? What a fuckstick!

    You're not suggesting that this problem started with the Obama administration, right? Or that one man caused this problem, right?

    Also, when Bush was president, I truly believed we were in the midst of the worste presidency of my life- going clear back to Eisenhowere. Despite my strong dislike for the Bush, I never referred to him as a "fuckstick" or anything that like that. Sorry, but to me that's just wrong.
    "Pretty cookies, heart squares all around, yeah!"
    -Eddie Vedder, "Smile"

    "Try to not spook the horse."
    -Neil Young













  • CH156378CH156378 Posts: 1,539
    unsung wrote:
    Gob wrote:


    I'm kind of thinking, If Americans got together and worked their asses off, all of this crap could be eliminated in a year.


    Since you mentioned a year....


    Texas Rep. Ron Paul said if he is elected president, he will balance the federal budget in the first year of his term. “I will fight to reduce taxes and remove unconstitutional regulations so that businesses can hire, Americans can get back to work and our economy can truly recover,” he said.
    :lol:
  • usamamasan1usamamasan1 Posts: 4,695
    gimmesometruth27 wrote:
    markin ball wrote:
    What did he do or not do to create uncertainty in the markets? How could he have been more of an economic leader? Specifically, please. Present some examples, if you may.
    your question is an exercise in futility. prepare for an answer along the lines of "rick perry is the man" or something completely unrelated to the question that you posed.

    fact is, world history apparently did not begin before january 2009, so to certain segments of the american population barack obama is the cause of all of the bad things to have ever happened in this country....

    this is a sad day in american history. even sadder, a group with a 48% disapproval rating is influencing policies to the extent that it is...and they will claim no blame for the downgrade....

    maybe i should just cut and paste TLDR posts and pretend I didn't go to community college.
    Michele Bachmann
    “We were warned by all of the credit agencies that a failure to deal with our debt would lead to a downgrade in our credit rating, but instead he submitted a budget that had a $1.5 trillion deficit and then requested a $2.4 trillion blank check. President Obama is destroying the foundations of the U.S. economy one beam at a time. I call on the President to seek the immediate resignation of Treasury Secretary Timothy Geithner and to submit a plan with a list of cuts to balance the budget this year, turn our economy around and put Americans back to work.”
    Mitt Romney
    “America’s creditworthiness just became the latest casualty in President Obama’s failed record of leadership on the economy. Standard & Poor’s rating downgrade is a deeply troubling indicator of our country’s decline under President Obama. His failed policies have led to high unemployment, skyrocketing deficits, and now, the unprecedented loss of our nation’s prized AAA credit rating. Today, President Obama promised that ‘things will get better.’ But it has become increasingly clear that the only way things will get better is with new leadership in the White House.”
    Jon Huntsman
    “Out-of-control spending and a lack of leadership in Washington have resulted in President Obama presiding over the first downgrade of the United States credit rating in our history. For far too long we have let reckless government spending go unchecked and the cancerous debt afflicting our nation has spread. We need new leadership in Washington committed to fiscal responsibility, a balanced budget, and job-friendly policies to get America working again.”
  • gimmesometruth27gimmesometruth27 St. Fuckin Louis Posts: 23,303
    usamamasan1 wrote:
    gimmesometruth27 wrote:
    markin ball wrote:
    What did he do or not do to create uncertainty in the markets? How could he have been more of an economic leader? Specifically, please. Present some examples, if you may.
    your question is an exercise in futility. prepare for an answer along the lines of "rick perry is the man" or something completely unrelated to the question that you posed.

    fact is, world history apparently did not begin before january 2009, so to certain segments of the american population barack obama is the cause of all of the bad things to have ever happened in this country....

    this is a sad day in american history. even sadder, a group with a 48% disapproval rating is influencing policies to the extent that it is...and they will claim no blame for the downgrade....

    maybe i should just cut and paste TLDR posts and pretend I didn't go to community college.
    Michele Bachmann
    “We were warned by all of the credit agencies that a failure to deal with our debt would lead to a downgrade in our credit rating, but instead he submitted a budget that had a $1.5 trillion deficit and then requested a $2.4 trillion blank check. President Obama is destroying the foundations of the U.S. economy one beam at a time. I call on the President to seek the immediate resignation of Treasury Secretary Timothy Geithner and to submit a plan with a list of cuts to balance the budget this year, turn our economy around and put Americans back to work.”
    Mitt Romney
    “America’s creditworthiness just became the latest casualty in President Obama’s failed record of leadership on the economy. Standard & Poor’s rating downgrade is a deeply troubling indicator of our country’s decline under President Obama. His failed policies have led to high unemployment, skyrocketing deficits, and now, the unprecedented loss of our nation’s prized AAA credit rating. Today, President Obama promised that ‘things will get better.’ But it has become increasingly clear that the only way things will get better is with new leadership in the White House.”
    Jon Huntsman
    “Out-of-control spending and a lack of leadership in Washington have resulted in President Obama presiding over the first downgrade of the United States credit rating in our history. For far too long we have let reckless government spending go unchecked and the cancerous debt afflicting our nation has spread. We need new leadership in Washington committed to fiscal responsibility, a balanced budget, and job-friendly policies to get America working again.”
    yep, you are right, it is all the fault of 5 people. the tea party had nothing to do with any of it. :roll:

    keep telling yourself it was all obama's fault.

    actually the tea party ruined our credit rating by their forcing the deficit issue onto what should have been a simple debt ceiling increase...the sane republicans were willing to vote for a simple increase and talk deficits later but cantor would not allow it.

    and did everyone hear the latest? the gop is attacking and blaming obama for cutting medicare and social security when IT WAS THE SAME THING DEMANDED BY THE GOP AND THE TEA PARTY!!

    what a joke.

    it would be funny if it were not so damn sad.
    "You can tell the greatness of a man by what makes him angry."  - Lincoln

    "Well, you tell him that I don't talk to suckas."
  • usamamasan1usamamasan1 Posts: 4,695
    hahahahahaha
  • gimmesometruth27gimmesometruth27 St. Fuckin Louis Posts: 23,303
    usamamasan1 wrote:
    hahahahahaha
    Are you proud of that of something? I can not believe that people are.celebrating this turn of events....
    "You can tell the greatness of a man by what makes him angry."  - Lincoln

    "Well, you tell him that I don't talk to suckas."
  • usamamasan1usamamasan1 Posts: 4,695
    I didn't vote for him.
  • gimmesometruth27gimmesometruth27 St. Fuckin Louis Posts: 23,303
    usamamasan1 wrote:
    I didn't vote for him.
    I don't follow your point. Because you didn't vote for him are you not going to be affected by the downgrade?
    "You can tell the greatness of a man by what makes him angry."  - Lincoln

    "Well, you tell him that I don't talk to suckas."
  • markin ballmarkin ball Posts: 1,075
    usamamasan1 wrote:
    gimmesometruth27 wrote:
    markin ball wrote:
    What did he do or not do to create uncertainty in the markets? How could he have been more of an economic leader? Specifically, please. Present some examples, if you may.
    your question is an exercise in futility. prepare for an answer along the lines of "rick perry is the man" or something completely unrelated to the question that you posed.

    fact is, world history apparently did not begin before january 2009, so to certain segments of the american population barack obama is the cause of all of the bad things to have ever happened in this country....

    this is a sad day in american history. even sadder, a group with a 48% disapproval rating is influencing policies to the extent that it is...and they will claim no blame for the downgrade....

    maybe i should just cut and paste TLDR posts and pretend I didn't go to community college.
    Michele Bachmann
    “We were warned by all of the credit agencies that a failure to deal with our debt would lead to a downgrade in our credit rating, but instead he submitted a budget that had a $1.5 trillion deficit and then requested a $2.4 trillion blank check. President Obama is destroying the foundations of the U.S. economy one beam at a time. I call on the President to seek the immediate resignation of Treasury Secretary Timothy Geithner and to submit a plan with a list of cuts to balance the budget this year, turn our economy around and put Americans back to work.”
    Mitt Romney
    “America’s creditworthiness just became the latest casualty in President Obama’s failed record of leadership on the economy. Standard & Poor’s rating downgrade is a deeply troubling indicator of our country’s decline under President Obama. His failed policies have led to high unemployment, skyrocketing deficits, and now, the unprecedented loss of our nation’s prized AAA credit rating. Today, President Obama promised that ‘things will get better.’ But it has become increasingly clear that the only way things will get better is with new leadership in the White House.”
    Jon Huntsman
    “Out-of-control spending and a lack of leadership in Washington have resulted in President Obama presiding over the first downgrade of the United States credit rating in our history. For far too long we have let reckless government spending go unchecked and the cancerous debt afflicting our nation has spread. We need new leadership in Washington committed to fiscal responsibility, a balanced budget, and job-friendly policies to get America working again.”

    I can buy what is in bold. The white house submits a budget to congress and definitely takes a leadership role in that matter. That is a supporting fact to the argument that Obama's leadership on debt reduction, economically speaking, may not have been strong enough. But in the end congress passes the budget so one could definitely argue it ain't all his fault by a long shot.

    The other quotes really don't have any supporting facts, however. The first sentence of the Huntsman quote may be true inasmuch that Obama was in office while the credit rating was downgraded but congress definitely has a lot to answer for regarding the causation of the downgrading, as well. Don't you think?
    "First they ignore you, then they ridicule you, then they fight you, then you win ."

    "With our thoughts we make the world"
  • markin ballmarkin ball Posts: 1,075
    usamamasan1 wrote:
    I didn't vote for him.

    Me, neither. Just so you know.
    "First they ignore you, then they ridicule you, then they fight you, then you win ."

    "With our thoughts we make the world"
  • inlet13inlet13 Posts: 1,979
    edited August 2011
    gimmesometruth27 wrote:
    yep, you are right, it is all the fault of 5 people. the tea party had nothing to do with any of it. :roll:

    keep telling yourself it was all obama's fault.

    actually the tea party ruined our credit rating by their forcing the deficit issue onto what should have been a simple debt ceiling increase...the sane republicans were willing to vote for a simple increase and talk deficits later but cantor would not allow it.

    and did everyone hear the latest? the gop is attacking and blaming obama for cutting medicare and social security when IT WAS THE SAME THING DEMANDED BY THE GOP AND THE TEA PARTY!!

    what a joke.

    it would be funny if it were not so damn sad.

    The problem is simple... Keynesian spending, which was meant to get us out of a recession. This was started under Bush and now is and has been continued under Obama. The FED, behind the scenes is just printing money creating even more problems. The tea party, as loony as you may find them to be, actually have it right here.

    The one statistic credit rating agencies really focus on is the debt to gdp ratio. The unfortunate reality is that whatever we do (in terms of spending and taxes) is going to affect gdp. The reason I blame the Keynesian ideology for this crisis is simple. Keynesians believe that when the economy turns down, spending helps. But, my point is that when the economy turns down GDP falls, so the denominator in debt/gdp ratio falls, thereby forcing the the entire debt/gdp ratio up. Moreover, during recessions tax revenue falls. Why? Because people, corporations and everyone (including the rich) have less money. If the country spends more during recession to try to get the country out of recession (which is a Keynesian idea), they effectively raise the debt, causing the numerator to increase. So, while the denominator falls, the numerator increases. What do we get? A huge spike in debt to gdp, and a downgrade.

    Now, if the Keynesian policy worked, the gdp (denominator) would have improved. That was their hope. That did not work and won't work. But, they keep asking for more time... one more chance... maybe the amount wasn't enough... to that I say BULLSHIT. Keynesians never see past today. They are fucking blind crack addicts.

    Regardless of what's done with taxes, spending cuts need to happen, and they need to be severe. In my opinion, huge layoffs in government may need to happen. But for now, they just need to spend less period.

    As far as taxes go, the problem with raising taxes on the on the rich (the top 1% of income earners pay roughly 40% of income taxes, for instance) is not that it won't help in the very, very short run to the debt portion of the equation. I agree it would help there. But, the problem is it would cause the gdp (the denominator) portion to sink further. Which would be very bad. Taxes do not spur economic growth. Anyone who acts like higher costs to private citzenry or business is good for economic growth is clueless or worse (knows the truth) and is lying.

    That's why I think spending is the sole problem here. That's why Keynesian policy is the problem. We need to stop practicing that policy and let this wound bleed and heal. The spending bandaids are not and will not work and will actually only cause more loss of blood in the end. And I haven't even really gotten into the Fed and their God awful policies here. But, those policies are also Keynesian.

    The truth is Obama and Bush and whoever... have all been Keynesian, but there's no reason why Obama couldn't learn from this and alter his Keynesian ideology. It's not like many Republicans actually are anti-Keynesian when push comes to shove, as we saw with the debt crisis a few weeks ago. So, Obama could really step up here, save his Presidency and do some real good in the process. Being anti-Keynesian does not mean you're a Republican afterall. And being Keynesian doesn't mean you're a Democrat. Keynesianism is an economic ideology... and in an ideal world, should not be considered political.
    Post edited by inlet13 on
    Here's a new demo called "in the fire":

    <object height="81" width="100%"> <param name="movie" value="https://player.soundcloud.com/player.swf?url=http://api.soundcloud.com/tracks/28998869&quot;&gt;&lt;/param&gt; <param name="allowscriptaccess" value="always"></param> <embed allowscriptaccess="always" height="81" src="https://player.soundcloud.com/player.swf?url=http://api.soundcloud.com/tracks/28998869&quot; type="application/x-shockwave-flash" width="100%"></embed> </object> <span><a href=" - In the Fire (demo)</a> by <a href="
  • Godfather.Godfather. Posts: 12,504
    http://www.foxnews.com/politics/2011/08 ... downgrade/

    time to swing the axe ! :shock: somebody has to take the fall for this.......
    Godfather.
  • Jason PJason P Posts: 19,157
    Godfather. wrote:
    http://www.foxnews.com/politics/2011/08/06/republicans-want-geithner-to-walk-plank-after-credit-downgrade/

    time to swing the axe ! :shock: somebody has to take the fall for this.......
    Godfather.
    I think that any lawmaker that has been in office for the last 15 years should walk the plank.
    Be Excellent To Each Other
    Party On, Dudes!
  • usamamasan1usamamasan1 Posts: 4,695
    Obama needs to be downgraded from President.


    Woot!
  • FiveB247xFiveB247x Posts: 2,330
    What does this even mean? When's the last good administration or president this nation has had exactly? I think partisan blinders have corrupted most in our nation.
    usamamasan1 wrote:
    Obama needs to be downgraded from President.

    Woot!
    CONservative governMENt

    Our government is the potent, the omnipresent teacher. For good or for ill, it teaches the whole people by its example. Crime is contagious. If the government becomes a law-breaker, it breeds contempt for law; it invites every man to become a law unto himself; it invites anarchy. - Louis Brandeis
  • ParachuteParachute Posts: 409
    FACT:
    1. Obama is the first African-American President.

    This has been called "historic".

    FACT:
    2. Under Obama, America lost it's credit rating for the first time ever.

    This has been called "historic" and "ironic".


    This sure is a "historic" Presidency. Worst President ever... And everything I thought he'd be.

    We downgraded ourselves when we elected this clown.
  • Johnny AbruzzoJohnny Abruzzo Philly Posts: 11,778
    Tea Party is deliberately crashing the economy so Obama loses the election. I think it's fairly obvious.


    Somewhat related: here's a great write-up about the miserable job done by S&P in general.

    http://fivethirtyeight.blogs.nytimes.com/2011/08/08/why-s-p-s-ratings-are-substandard-and-porous/
    Spectrum 10/27/09; New Orleans JazzFest 5/1/10; Made in America 9/2/12; Phila, PA 10/21/13; Phila, PA 10/22/13; Baltimore Arena 10/27/13;
    Phila, PA 4/28/16; Phila, PA 4/29/16; Fenway Park 8/7/16; Fenway Park 9/2/18; Asbury Park 9/18/21; Camden 9/14/22;
    Las Vegas 5/16/24; Las Vegas 5/18/24; Phila, PA 9/7/24; Phila, PA 9/9/24; Baltimore Arena 9/12/24

    Tres Mtns - TLA 3/23/11; EV - Tower Theatre 6/25/11; Temple of the Dog - Tower Theatre 11/5/16
Sign In or Register to comment.