Sunday, April 24, 2011

Standard and Poor cuts long term outlook for US Debt to negative: Thank you Congress, WTF?

Stocks Trade Sharply Lower on US Debt News

Stocks continued to tumble on news Standard & Poor's has a negative outlook on the long-term debt of the United States because of concerns lawmakers won't come to an agreement over how to address budgetary challenges.
Cost To Insure US Sovereign Debt Rises 16%

S&P cuts long term outlook for US Debt to Negative This is not good and we can thank our screw ball worthless Politicians as they continue to play their childish games.

Tell me what you think of this! America's Impending Master Class Dictatorship Frightening but you can not deny this reality! We are in serious trouble and as I have pointed out for years it was done on purpose and right under our unsuspecting noses! Our real debt including Debt and unfunded liabilities is $120 trillion! Wrap your mind around that!

Think about it! What is the world without America? What would happen to the entire world if we were to file for Bankruptcy? China for one would be in anarchy and go under as the country she is today and wants to be tomorrow. I find this all very disturbing because it is laid on Obama's shoulders and being credited with this mess. Unfunded liabilities, ballooning deficit, ballooning debt, it is all Chinese to most of us. One thing I do know is President Clinton ran a surplus inherited by G W Bush. He was even looking at retiring the Debt. Bush changed all that forever!

Bush Cheney Greenspan Rove Gonzales, all the enablers, do not get enough credit for what they did in allowing the moral and financial bankrupting of America. I won't bother you with another link but Michael Whitney did a great piece detailing how Greenspan set it up. Those so called men are heralded as heroes by some. You have to realize they are all benefactors.

I always said Bush or those behind him learned their lessons well and anything they touched would be much worse than a like event in History. During the Depression when Roosevelt was trying to rebuild America we knew it happened on the Republican's watch and who to blame. They also knew and wanted to help fix it not make it worse as Republicans are doing today.

Anyway think back and you will see that everything was done on purpose and especially the timing was no coincidence. Bush and Greenspan kept the collapse off until he was out of office. People say get over it! Move on! However we will never get over it or be able to forget Bush as much as we want as his damage will affect our and the worlds lives forever. No I am not giving that bunch too much credit.

They shaped our future and the future of the whole world like it or not!et over it, not hardly! The debt clock had to be started during Reagan's time because of his success but could only register 9 trillion. Because of Bush's so called success it had to be altered to register 10 trillion. Now the debt is moving so fast it is going virile. 3.8 trillion is our new record budget for next year. How far off can bankruptcy be especially knowing how bad it really is?
Bankruptcy Questions & Answers

James m Joiner
Gardner, Ma


Demeur said...

We're not broke. And the people who are touting this are the ones making a killing on things like gold and oil. They are once again using fear as their weapon.
Step back and look at the broader picture. You may have a mortgage and car payment but are you broke? You scare me Jim you're starting to sound like a republican.

an average patriot said...

No we are not totally broke yet. You may have read the piece I have published numerous times on the social security ruse.

Anyway, gas and oil is going to keep going up and the billionaire Koch brothers will see to it because that will ensure no second term for Obama or so they think.

S.W. Anderson said...

"Now the debt is moving so fast it is going virile."

Forgive the nitpick, but I'm sure you meant "viral."

Demeur is absolutely right about what's going on.

Being in debt as we are isn't something we need to be scared of. What we do need to be scared of is how our ability to make and sell things people here and around the world need and want to buy — the hollowing out of our economy to enrich a select few while impoverishing so many others. It's the difference between losing a golden egg and losing the goose that lays golden eggs.

an average patriot said...

S W we became essentially a third world country when our manufacturing base was shipped overseas. All the rest of the wealthy we give tax cuts and breaks.

We are so screwed and Republicans will not be happy until they destroy it and Democrat and FDR"S legacy in its entirety then they can build what they wrongly think will be their Republican "utopia"

Ranch Chimp said...

Good posting Jim ... I done a post not long back, cant recall the name of it or such ... but it was on the municipal bond market in America ... cause it's looking shakey. I focused on that in particular because alot of middle American's have those in their retirement investment portfolio's (those who manage their porfolio's sell them to them as a sure win basically, manager's frankly dont care about gain's and losses as much as they care simply that folk's are investing and trading), and I didnt want to see them take another hit after the hit they took from the recession of 08/ 09 ... because those middle American's are crucial to our economy ... they spend and generate revenue and job's (mega corporation's only have expanded their staff's/ emloyment by a measley 3% top's, and within the next week or two, you will see record breaking corporate profit's released) ... I mean ... my son in law alone (just one example of several I know) lost over $20K of his retirement in only a few week's! And those folk's still have to pay the management fee's because they have folk's do that for them, so many American's lost so much, yet we bailed out those who made them lose it. I feel "IF" the municipal bond market take's a hit this year ... it will be devasting across the country and probably send us into a double dip, and of course the President will be blamed for it, with the GOP saying if they had charge we would all be in Heaven now instead etc, etc.

Thanx for the read Guy

Ranch Chimp said...

One more thing Jim, if I may ... what's really sad is that we actually refer to these as a master class or "elite", I truely believe in the title of "elite" .... but for only those who REALLY deserve such ... these f'n parasite's of extreme wealth today ARE NOT ELITE in no shape or form, they EARNED nothing ... and do nothing more than what you or I would do on the Vegas Strip or Atlantic City Boardwalk in a casino, except ... WITH OUR MONEY, master's of the sewage of humanity is more like it! I'll shut the Hell up now Jim. :)

an average patriot said...

RC can you imagine if social security was privatized in the stock market as Bush wanted? R's are still trying to screw social security. I just got a call and have to run!

an average patriot said...

Here ya go Bud I am still talking to Ca, hold on!