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Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / US Loses AAA Credit Rating From Standard & Poor (5049 Views)
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Re: US Loses AAA Credit Rating From Standard & Poor by olaolabiy: 12:35pm On Aug 07, 2011 |
antitpiah: You don't live in Canada. Yeah! It is true we don't use 'mate' in America. The influence of living in Naija, I guess. Do you want to know the street in question? We are mates, man. We are buddies. BTW, did you attend the last Ile-Ife meeting? I skipped it, man. |
Re: US Loses AAA Credit Rating From Standard & Poor by Nobody: 12:43pm On Aug 07, 2011 |
How can the USA go from having a budget surplus to drowning in debt and having its credit rating downgraded in one decade? First, you need a supreme court which will give a presidential election to a candidate who got fewer votes than his opponent. Then the newly elected president should ignore warnings about a pending terror strike. After the terror strike occurs, invade the country that harbored the terrorists then the president should lie to congress and to the people about the necessity of invading a second country that poses no threat. Then give massive government contracts to oil companies and construction companies that the president and vice president were involved with prior to taking office. Cut taxes on these and other large corporations and the richest people in the country. Bake this recipe for about six years and you get a sh.it pie that China doesn't want a slice of. |
Re: US Loses AAA Credit Rating From Standard & Poor by Nobody: 1:56pm On Aug 07, 2011 |
^^^^ I don't buy the ideas of petty talks. Nobody is longer a fool to the reasons why things are what they are in the US. The way the political atmosphere is being played out in every sector is a red light on every important way of finding a lasting solution to the financial problem - all ideas have been decimated. It is due to oppositions finding avenues to retaliate with counter measures in what will move the country forward economically - it's slowing things down.The govt. can't create more jobs without borrowing. I think Obama is been dictated for, he has to change the man in charge of finance who I personally think is sluggish in taking affirmative actions, that's Timothy Geithner. The government should start withdrawing American soldiers from Afghanistan and make sure all soldiers are out of Iraq as soon as possible( which I quite agree with him on). I still think the same republicans who want things to turn out bad are the ones who put the country into the mess in the first case. I don't think Americans are silly, they know what's good for them. Even the European nations of Spain, Greek, Italy and others are going through same problems which are not directly link to US. Why are people picking on Obama, because he's the president? From my view Obama wants things to be better but they are not as easy as they seemed. To me he is a good man who wants to listen but with the economy problems on one side, things become heavy blocks on his shoulder weighing his plans down. Given the time he has been in office without affecting a lot in job creations and restoring American economy back to what it used to be and the debt is increasing there is every tendency for ordinary Americans to worry - which is proof of things are not in order or in good conditions. Now if Obama has a plan to reduce the debt by 2 trillions in next decades,my question is, what has the Republicans done to see to their own contribution of 2 trillions to the debt reduced? I don't think Republicans are equated to better things in the country than to cause more troubles. But, their contributions to move the Democrats to be more active with its plans with affirmation is now turns into row. The rating is still a way to stir fears, which, is not good for the country rather put alert on the govt. to act. The rating effect is already being felt in the Trading desk(the Wallstreet) who are procrastinating as usual because they too are now becoming politicians. Let Obama stand up for creation of job. Let Americans go out to create jobs and don't just wait on the govt. do all the jobs creation. They should go out to invest in developing economies( take the manufacturing industry from the Chinese). Chinese are taking the ground in Africa and other developing nations because Americans ignore their duty and look down on those countries now these countries are paying Chinese off.These can create job for expertriate Americans and returns for to the nation. Above all these, US is still the leading economy in many years to come. They should sort themselves out now that it still early to do so. I think they can do it - for Americans are know to be creative, innovative, capable of anything, make dreams become realities, intelligent and very well understanding beyond what they can achieve as people. Americans have the capacity to take the place and fight for their country because they can do it - Yes they can! |
Re: US Loses AAA Credit Rating From Standard & Poor by daywatcher: 2:55pm On Aug 07, 2011 |
The US should just bomb s&p out of existence, show them who is boss |
Re: US Loses AAA Credit Rating From Standard & Poor by antitpiah: 3:06pm On Aug 07, 2011 |
ola olabiy: Yes, I do. Which street? |
Re: US Loses AAA Credit Rating From Standard & Poor by olaolabiy: 5:30pm On Aug 07, 2011 |
antitpiah: What happened on tour should stay on tour. Only stupiddd Yoruba Londoners can reveal that. We are much more polished in America. |
Re: US Loses AAA Credit Rating From Standard & Poor by Nobody: 6:21pm On Aug 07, 2011 |
http://www.dailymail.co.uk/news/article-2023254/Tottenham-riots-North-London-flames-Mark-Duggan-shooting.html A sign of things to come. "In 15 or 20 years, on present trends, there will be in this country three and a half million Commonwealth immigrants and their descendants, As I look ahead, I am filled with foreboding; like the Roman, I seem to see "the River Tiber foaming with much blood."-Enoch Powell April 28, 1968 |
Re: US Loses AAA Credit Rating From Standard & Poor by pelezico: 10:55pm On Aug 07, 2011 |
Americas Keynesian economic policies has caused this problem. Anyway if you want to know what the real issues are please google videos on men such as Peter Schiff and Ron Paul. I am not endorsing all they believe especially Ron Paul liberterian views but they have been saying that Americas downfall would come soon because of the reasons they espouse. People have always wondered why America is not mentioned in Biblical prophecy and yet China and Russia are. I guess we now know. Well Israel will now come to know that her protection has always come from God and not man. |
Re: US Loses AAA Credit Rating From Standard & Poor by Nobody: 1:25am On Aug 08, 2011 |
There confusion among politicians. Democrat John Kerry called it Tea Party downgrade while Republican John McCain said S&P not to blame when the problem has already being there. I still believe S&P is too quick to downgrade the credit rating upon passing the bill though it's the deadline. My take on this whole failing US credit is that there is more political undertone to it than economy. It is obvious there is problem with the US economy but is it actually as serious as the S&P indicates with that downgrade? |
Re: US Loses AAA Credit Rating From Standard & Poor by mrjingles(m): 11:09am On Aug 08, 2011 |
You aint seen nothing yet! Just wait for the baby boom generation to start retiring and drawing money for living expenses. Social security is bankrupt and by the time you throw in medicare and medicaid, we are looking at a fiscal gap of roughly $200trillion. Imagine about 50million baby boomers drawing just $2,000 each month from their retirement accounts, that would be about $100billion every month flowing put of the markets. As it stands most retirement funds have been decimated and many may not have enough to retire on. Wahala dey o! |
Re: US Loses AAA Credit Rating From Standard & Poor by Nobody: 11:43am On Aug 08, 2011 |
^^^^ That's why jobs have to be created. The retirement benefit reduce to a relatively minimum amount and as for the baby boomers, there have to be ways in getting those parents to work and stop them from collecting benefits. Insurance companies and mortgages need attentions.The govt. need to borrow to finance jobs creation. I don't think it is a disaster as per claiming of those benefits but a political ineptitude toward creating of better atmosphere for investors which lost confidence in the economy. |
Re: US Loses AAA Credit Rating From Standard & Poor by Reference(m): 2:29pm On Aug 08, 2011 |
all4naija: And where will the jobs come from, China currently has over 50% of global manufacturing, agriculture's a potential but earnings are marginal and once again China is investing massively in Africa and South America, same for the extractive industry. One area America would have leveraged on would have been in high tech as it concerns bio-fuels, renewables, high-speed transport and ICT but China with its huge consumer base and cash reserves, practically the only country that can afford American products in good quantity (high priced as necessary for a quick economic recovery) isn't just sitting on its pile of cash but has invested heavily - over twelve times that of America - in these industries. So when your ace competitor and potential customer makes most things you'd have them purchase from you, you are just doomed. And worst of all them Chinese stubbornly to let the Yuan rise. The American economy is large, no doubt but its dead and rotting from within. It will take time for the skeleton to be revealed but its only a matter of time. The truth is that like every empire they have had their time. They have become complacent. Not their fault, it comes with the territory. China was once there as the largest empire and the same things that is bringing America down brought them crashing too. Life is all about cycles. Very soon when all the tickets of Harry Porter are sold and the attraction of American culture wanes then the country will officially be cremated. Outside Hollywood I can't see anything else that holds attraction there. If there is to be a stay of execution Americans must be competitive. This involves making lifestyle changes that I can't practically see happen. They have moved away from the Roosevelt and Kennedy enterprise to that of expecting government to do everything for them (like Nigeria). The whole global thing started from housing credit, purchasing stuff they simply cannot work to afford. This is the worst way to go. For those who think an exit from their numerous overseas campaign would assuage the situation should think again. The defence industry rakes in a pile of tax cash. Problem is competition with Eastern and European manufacturers is hotting up. Boeing is not what it was no thanks to Airbus and now Airbus is firmly into defence. No way out from it except sacrifice which unfortunately from what has transpired these past few weeks in Washington is non existent. Spare a thought for Emperor Nero playing the fiddle while Rome burned. |
Re: US Loses AAA Credit Rating From Standard & Poor by OpaOpa: 2:48pm On Aug 08, 2011 |
The US losing AAA ratings has always been inevitable. One only needs to look at the protagonists: The high risk of a possible financial shutdown, the huge economic and resource drain from the demands of multiple wars and other active military missions on the globe, aids and more aids(even when they themselves are in need) that add some more shine to their self proclamation as the world power, job cuts, high unemploment rates, etc. Well, of more concern for me is to see our own leaders get to work and bring us forth as an emerging indutrialised power both on the continent and the globe. Nuff said. |
Re: US Loses AAA Credit Rating From Standard & Poor by tpia5: 12:32am On Sep 07, 2011 |
is the following really possible because i find it puzzling: The U.S. Postal Service Is About To Shut Down? The U.S. Postal Service is projected to lose $11 billion this year, and it's running out of cash. |
Re: US Loses AAA Credit Rating From Standard & Poor by tpia5: 12:33am On Sep 07, 2011 |
The current situation of the organization is obviously a major problem, not just for the Postal Service, but for the country. The U.S. Postal Service employs 653,000 people, and with the national unemployment rate already running over 9%, the country can't afford to lose more jobs. Thanks to the Postal Service's generous benefits and pensions, moreover, these are "good" jobs--ones that pay employees far better than they might get from private organizations. http://finance.yahoo.com/blogs/daily-ticker/now-u-postal-belly-153600714.html |
Re: US Loses AAA Credit Rating From Standard & Poor by tpia5: 12:33am On Sep 07, 2011 |
or are they just trying to shock the govt into doing something. |
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