U.S. Loses AAA Credit Rating

I think this was premature and can cause more damage than fixes. Especially that is was based on miscalculations of billions according to the news and they went ahead w it anyhow...I need to research that. I am afraid if panic and people pulling all kinds of money.. keeping the economy at a stand still is not the option. Dilemma...

 

They won't care until they're unemployed. They had to see this coming. That's why I can't believe this wasn't some well orchestrated ploy to drive shares down so the wealthy can control more of the wealth. There wasn't on economist who didn't warn against this. There wasn't one who didn't say revenues are created by tax cuts but by tax increase. They wouldn't hear of it.

 

Most of us will be dead by 2050 but so what if we're second? This is the natural transition of nations. Here's something that you'll be happy about. No matter what happens all African nations will remain on the bottom. Barring world changing cataclysmic event that sends us back to the dark ages Africa as a whole will never change.

 

Why do you think that's so about Africa? (I agree with you on the passing of empires, and IMHO the country which handled it best was Great Britain)

 

Because political and fiscal policies will continue to suck that continent dry and poverty will continue to run unchecked. If you can't be healthy you can't fight your oppressive government. As we become more globalized there will be more poor people and the sentiment of the world is its ok as long as they're brown.

 

If your country has military bases all over the world, you're an empire. Like it or not.

 

Certainly not in a formal sense... in an informal sense you can perhaps make the argument, but I think that the argument needs to be made.

I think that the world order as it is now is a lot more complex than empire. Empire assumes that there is some entity at the top that is in control. We may still be at the top, but I'm not sure that we really exert much control.

 

The sentiment of the white first world anyway. :-(

 

lets not forget this is S & P. they are the same people that gave kudos to the junk derivatives that put this economy in a mess.

it was 2 trillion but your point accurate. DONT PANIC !!!

 

They reviewed their figures and then downgraded again. Your point is on the money here...they backed up the mortgage backed security disaster, so this is on them as well.

As you know I'm not an Obama fan, he's too far right for me, but it must really suck that the first time in American history our credit rating is downgraded is on his watch

 

But its not by his design. The worst things get the more I'm beginning to see this NEEDS to happen. It has to be so painful that no one ever forgets or at least for another 100 years like with the Depression. And like Neil Degrass Dyson said recently on Real Time With Bill Maher maybe this time we'll allow more engineers and scientists run the country instead of a room full of lawyers who only care about being right at all cost rather than actually doing what's best. It's not that the two party system is bad its that those involved are literally stupid and weak.
Hopefully when the dust settles this motivate Americans to work harder than we ever have. Stop making dreams more important that than reality. We have produced anything outside of entertainment in decades its time to change that and its time to produce smarter children and better trained work force.

 

No, though it's with his collusion to a certain degree. Regardless, historically it will be known as happening on his watch.

 

two words- dollar hegemony.
http://www.atimes.com/global-econ/DD11Dj01.html

 

Historians would have the last say on these times. At the moment it is hard to figure out which side is right in the debt debate, yet for many, it would be humbling times. For the simple reason that familiar paths taken, and concepts many are familiar with have become useless.

The events around the world, especially in Europe over time would give a sense of balance to whatever happens in America. At the moment, something seems wrong with "white man's" economics. I hope smart people figure what needs to be done out because it is in the interest of the world.

 

good points on all. lets remember that we have the three stooges running the country......white house, congress and the senate

 

Oh hell, yes, and Obama inherited a mess, there is no doubt about that. But even when he had the House & Senate, they didn't do shit to fix things. Then he lost the House...and somehow, it seems like all the air got sucked out of government. There's no backbone, no real fight, just bullshit political gamesmanship.

 

instead of the health care bill he should have been on the economy from the start.

 

To be fair, the healthcare overhaul would've contributed in producing jobs. That's only if they kept certain key measures in there.

 

This is going to have serious ramifications. I doubt the idiot politicians will learn anything from it though. They will continue their bad behavior. Only a COMPLETE AND TOTAL COLLAPSE IS GONNA SOLVE THIS PEOPLE!!!

 

That bill was a job killer form the very start. It would have only produced low income jobs and would have sucked more money out of the private sector to fund it. MEANING LESS JOBS OVERALL!