S&P downgrades U.S. credit rating from AAA

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-- S&P downgrades U.S. credit rating from AAA
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Posted by pkcRAISTLIN on Aug-09-2011 05:25:

The economy; the belief that bonds are a good, low-risk investment when compared to investors� other options.

Posted by Joss Weatherby on Aug-09-2011 05:27:

quote:
Originally posted by pkcRAISTLIN
You could say that about every single nation that isn�t a cesspool of instability. The size or strength of one�s military is unrelated. Japan has a monster debt and have no real military to speak of.

Actually they have a very formidable fighting force. They are ranked 24th and the JSDF is larger than Canada, Australia and the United Kingdom.

Posted by pkcRAISTLIN on Aug-09-2011 05:30:

quote:
Originally posted by Joss Weatherby
Actually they have a very formidable fighting force. They are ranked 24th and the JSDF is larger than Canada, Australia and the United Kingdom.

I should hope they had more men than ours! But I thought it was a largely ceremonial force? Or has that changed in recent years?

Posted by Joss Weatherby on Aug-09-2011 05:33:

quote:
Originally posted by pkcRAISTLIN
I should hope they had more men than ours! But I thought it was a largely ceremonial force? Or has that changed in recent years?

No they maintain a very active, trained, and well equipped military. They only spend 1% of their GDP on it, but that comes out to be something like almost 60 billion USD a year on it.

They are forbidden to deploy a fighting force anywhere beyond their islands, but they keep a very large one at home and a very active maritime force to cover their large number of far-flung island territories. Their navy is particularly modern, including a number of AEGIS class guided missile cruisers with anti-ballistic missile technology.

Posted by pkcRAISTLIN on Aug-09-2011 05:36:

Well, thanks for the correction.

Posted by Lira on Aug-09-2011 05:40:

All right, I come from a country ranked B by S&P and I don't understand what's this commotion all about. Isn't AA+ still good? I'm completely ignorant when it comes to economics, finance, and Aussie rules football.

Posted by pkcRAISTLIN on Aug-09-2011 05:50:

quote:
Originally posted by Lira
and Aussie rules football.

hawks are best!

Posted by jester on Aug-09-2011 10:37:

I just saw this video on CNBC, this guy that was on last night was like; yeah the US can seize all the worlds gold if it had too. Seeing countries store their gold in the US.

The market might come tumbling down later on during or after what the Fed has to say. The reason I say that, it usually does happen. I don't remember the last time it went up when B.B spoke.

Posted by colonelcrisp on Aug-09-2011 15:39:

quote:
Originally posted by Quazar
I'm not saying the US will posture, I'm simply saying that's the underlying principle behind the fact that the US is allowed to continue borrowing. Our existence as a nation is "guaranteed" for a long time due to our military, and therefore we'll be around for a theoretical infinity in which to pay back the money.

Im pretty sure Rome had that same kind of theory back in the day too...... how did that one end again? oh right, not so great....

Posted by jester on Aug-09-2011 17:39:

Posted by Tasty Onions on Aug-09-2011 17:52:

quote:
Originally posted by jester

quote:
Originally posted by Tasty Onions
FUCK.

Too much stupid to handle.

Posted by EddieZilker on Aug-09-2011 19:51:

quote:
Originally posted by jester

Up until recently, CNN was running that commercial fairly regularly and I don't think they stopped because it was banned by A&E, The History Channel, and the other major networks. I don't even think the other major networks banned it because it contained any amount of earth shattering truth as the person, who uploaded the video, claims. It's actually been running for quite a while, so I'm not sure how "new" it is.

It's context is completely flawed. The Chinese would never, ever teach that it was because we turned our back on our principles. Instead, they would teach that it was because of our flawed principles that we have failed. Had the producers of the commercial thought to include that bit of realism, I suspect it would have been a little closer to the truth.

Posted by bananas on Aug-09-2011 22:24:

Mr Know-it-all

Posted by Quazar on Aug-09-2011 22:29:

quote:
Originally posted by colonelcrisp
Im pretty sure Rome had that same kind of theory back in the day too...... how did that one end again? oh right, not so great....

Hence my quotations around "guaranteed". It's dumb to think a country will stick around forever simply because it has a strong military, but people do.

Posted by Massive84 on Aug-10-2011 17:29:

Am i the only one that has lost faith in the monetary system? i mean all we did in the last decades was financing debts with loans.

Posted by EgosXII on Aug-11-2011 01:12:

quote:
Originally posted by Quazar
Hence my quotations around "guaranteed". It's dumb to think a country will stick around forever simply because it has a strong military, but people do.

All it means is that when the US really bottoms out they'll have no option but to sell their weapons to anyone who will buy them...

Posted by Comrade Stalin on Aug-11-2011 02:34:

quote:
Originally posted by EddieZilker

It's context is completely flawed. The Chinese would never, ever teach that it was because we turned our back on our principles. Instead, they would teach that it was because of our flawed principles that we have failed. Had the producers of the commercial thought to include that bit of realism, I suspect it would have been a little closer to the truth

LOL, I know. Seriously, is China run by Republican conservatives?

Posted by pzK on Aug-12-2011 00:40:

Anyone saw this? I think he hits the nail on the head.
http://www.msnbc.msn.com/id/2113454...079837#44079837
and his reaction afterwards
http://www.ritholtz.com/blog/2011/0...-how-about-you/

Posted by Lira on Aug-12-2011 01:00:

I'd be quite angry if I had to deal with double A's as well. I'm lucky to be Brazilian, where we're full of double D's

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