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Title: Will S&P Downgrade Be Another Y2K Scare?
Source:
Naked Capitalism
URL Source: http://www.nakedcapitalism.com/2011 ... rade-be-another-y2k-scare.html
Published: Aug 6, 2011
Author: Yves Smith
Post Date: 2011-08-06 09:49:29 by lucysmom
Keywords: Chicken Little, Obama Did It, Pot, Kettle
Views: 41271
Comments: 76
It isn’t yet clear what the impact of the S&P downgrade of the US to AA+ will have. There are good reasons to believe, despite the media hyperventilating, that it won’t add up to much, and may perversely hit wobbly stock markets more than Treasury yields. But there is a much bigger issue, namely S&P’s highly questionable conduct, the lack of any analytical process behind this ratings action, and the political implications. Will the S&P Downgrade Have Much Immediate Impact? Although I run the risk of being proven wrong, there are lots of reasons to think that the reaction in the Treasury market to the news will be underwhelming. We might see some reactions Monday as some investors who managed to be blindsided and aren’t happy with the downgrade exit but conversely, I know of investors who see any price softening as a buying opportunity. Treasury yields fell 50 basis points last week despite the risk of a downgrade being very well telegraphed. S&P had asked for $4 trillion in deficit reductions (it tried disavowing that number) and made it clear it was going off to brood and might take action. And this market response took place with S&P leaking like a sieve. Poster Comment: What was the S&Ps role in the mortgage crisis?
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#19. To: A K A Stone (#13)
BUWAHAHAHAHAHAHA Like you can just do that.... BUWAHAHAHAHAHA Sweet baby Hesus. Tell me how long it takes to grow a tomato. Or a chicken. Go ahead...Do it...;}
$100 the acre. Oil at $1 a gallon.... And you have no idea what default is. There's a difference between 'Can't' and Won't. But you keep believing the FedRes has something left. First AAA to the USSA....1917....WE'RE GOING TO WAR. Loss of AAA with New Deal....NO WAR. Second AAA awarded....wait for it.....1941...WE'Re GOING BACK TO WAR... Se a Pattern? Of course not....;} back in February 2008: I don't know what will come next. I don't know if the United States can crawl out of the filthy pit of empire and tyranny over the next few decades and claw its way toward some new manifestation of democracy -- or if it will just keep sinking, raging, rotting, mutating further into a war-and-torture state that must feed constantly on human flesh to survive. Of course, I hope for -- and will work toward -- the former, the new manifestation, although I honestly don't expect to see such a thing in my own lifetime. But whatever will be, one thing is certain now: the constitutional republic of the United States is a dead letter, a relic of history." LMFAO
BTW, anyone here heard from Japan, China, or Russia lately? August 6, 2011 US Loses AAA Rating, China Demands Real Reforms The US was a creditor nation for 150 years. The greatest thing George Washington did was pay off the revolution debts and he set the course for fiscal prudence. Amerikans are clueless as Sunday PM approaches and the Sun rises on Asia.
It takes money. Will you have it? Not credit. And definitely No Debt. Actual Linen Dead Presidents. Or you're a slave. And the Capitalist 'Impulse' is to Oligarchy/Monopoly/ Kleptocracy/Plutarchy....the Top 50 000 owning the Top 60%.
Here in Ohio if you get your starts out on May 15, which is a good date because frost is most likely gone. You will have ripe tomatos around the fourth of July.
Who told you that I think that? Haven't you heard that it is harder for a rich man to enter the kingdom of Heaven then for a camel to pass through the eye of the needle. (Which was/is a narrow passage that you would have to unload your camel to pass through.
They caught their limit in an hour if I recall what they said. Red snappers. I have never eaten red snapper myself. Last time I was there Tropical Storm Bill was in the area and our trip was cut to about 30 min. I was disappointed.
You have a camel?
Why shouldn't I believe them. They have never lied to me. On the other hand you said they were going to evacuate Florida and all kinds of people were going to die. Do you still think they are going to evacuate Florida or are you ready to admit you were wrong on that one?
No. Why you horny?
And why would they? They know you'll find our soon enough anyway. How about this: They're lying to themselves. How can they tell you something else. This is Quantum Science. We all know what Petroleum does to life. They spray diesel on fence lines to kill the grass for god's sakes...;} 100 000 bbls per day fountained up from 5 miles deep. A Natural Refinery column all the way to the top with Nature's Best Fossil Fuel. Combined with All of the Natural Goodness of Antifreeze that bp could produce and spray. All of that is still there, unlike all of the whales dolphins and sea turtles. I won't be goin g back and definitely not until I see what a Cat 3+ does to the area. But you go on down and have a great time....;}
Go for it, Dude. Eat your fill. Swim until you can't. Have all the fun possible...;} And good luck...
Now where were we....Oh YEAH...I rememeber now: Title: Will S&P Downgrade Be Another Y2K Scare? Source: Naked Capitalism Hilarious. Poppy Harlow (gotta love that name, sooo anti panicky;} http://edition.cnn.com/video/#/video/bestoftv/2011/08/06/exp.nr.harlow.why.not.to.panic.cnn?hpt=hp_t2 harlow.why.not.to.panic.cnn? BUWHAHAHAHAHAHAHAHAHAHA I guess the Saudi's and Israeli's don't watch Poppy and CNN Int'l.... Or DOn't Care.....I'm going with that one...but it;s just me....8D TASE plunges after S&P cuts US credit rating The opening on the TASE was delayed after the Tel Aviv 25 fell 6% in pre-market trading. AFTER the SAUDIS: First Response To Downgraded “Non-Event”: Saudi Tadawul Down 5.5% Those seeking a harbinger of what may be in store for global capital markets come Sunday 5 pm should look to Saudi Arabia where the Tadawul just dropped by over 5% today. And so expect Spontaneous Combustion Events Like this: "Who knows, perhaps the rioting(TOTTENHAM last nite....still underway) broke out just because. The same reason it will when prime time US TV stations run out of frontal lobotomy replacements and the people actually wake up to the complete socio-economic collapse that is currently raging throughout the "developed" world. h/t @CrownThomas
The Milan offices of credit rating agencies Moody's and Standard and Poor's were raided by Italian police on Wednesday as part of an investigation into their role in the ongoing financial crisis Why are hObama's SWAT teams confiscating mangos from a health cooperative in Venice CA, instead of raiding S&P for evidence? He's in bed with the banksters and global corporations.
Obama's watch stopped on 24 May 2008, but he's been too busy smoking crack to notice.
No kidding McGoo...why do you assume no one besides yourself has any?
Oil at $1 a gallon.... Wish in one hand, shit in the other, and tell me which one fills up faster. I know exactly what default is. Further, I know a great deal more than you, about economics. When combined with an understanding about how politicians work, how they'll do anything to stay in power, even if it means throwing their own MOTHERS under the proverbial bus, they'll be only too happy to do so.... And THAT is why the stealth-default will continue... HOW, you may ask, is the USA doing a stealth-default? Simple. The Fed is now printing money (or more accurately, *digitally* creating it) from nothing. They control the printing presses... THAT'S what they have left.... For all your talk, and your bluster, the fact is that you don't know SHIT. Please, HOLD all of your savings in cash... If nothing else, you'll never have to worry about toilet paper.
It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow slogans from 1984: War is peace. They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished. Stephen King observed, "The beauty of religion mania is that it has the power to explain everything... [so] logic can be happily tossed out the window. This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots... THEIR God... is the STATE.
Wrong's a Religion for you, eh CE? LMFAO Re: DOOM Investing Post Mon Aug 08, 2011 8:14 am by mcgowanjm $83.49 We're almost closer to $40 than $120. And I think I saw a $77 print somewhere.... :twisted: "Mr Margin calling on Lines 1,2, and 3 now, sir" Line 4: "How much for my JPMorgan tanker of oil sitting offshore?" BUWAHAHAHAHAHA :twisted: :shock: :? 8-)
And Sweet babi Hesus that Cramer's a short lil fucker. If you're shorter than a Japanese Lady, you must be less than 5 ft tall....LMFAO
No kidding McGoo...why do you assume no one besides yourself has any? Yeah Shitbird weighs in. Don't call me names....just sayin...;} Becuase it's NOT an Assumption. The Bottom 90% are tapped out! What part of Since Nixon & 1974 and then Reagan Stagnant wages, $1.5 Quadrillion in Debt derivatives are you NOT getting? 8D
Don't tell me yukon has himself another screen name? Guess it's obvious by the juvenile posting style.
“America is at that awkward stage; it's too late to work within the system, but too early to shoot the bastards.”---Claire Wolfe Yeah Shitbird weighs in. Don't tell me yukon has himself another screen name? Guess it's obvious by the juvenile posting style. The more things change, the more they remain the same...;} " Of course it will be expected that at some point some other archaic form of quantitative easing part three will be brought to the table but the Federal Reserve is a faith based system. Suddenly people are having less and less faith from a central bank that has sat idly by for the working and middle class while allowing the wealthiest in this country to become even wealthier simply by gaming the current financial system. The markets are not pleased with raising the debt ceiling without actually looking for new revenue streams. This is like getting a credit card line increase without your income rising." Come on, Obama. Talk about cutting Social Security again...;}
LMFAO I've been right, all along. I'll be sure to tell you "TOLD YA SO," as hyperinflation sets in. The rest of your replies (since you can't keep to just ONE reply, EVER)- just a long string of mindless rantings. You're the forums' Tourettes Boy.
It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow slogans from 1984: War is peace. They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished. Stephen King observed, "The beauty of religion mania is that it has the power to explain everything... [so] logic can be happily tossed out the window. This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots... THEIR God... is the STATE.
What part of Since Nixon & 1974 and then Reagan Stagnant wages, $1.5 Quadrillion in Debt derivatives are you NOT getting? Maybe you should focus a little harder on the plain fact that not everyone has spent the last 40 years engaged in irrational exurberance.
Hey Bill, go fuck yourself.
Thunderbird: Hey Bill, go fuck yourself. Nothing like proving his point.
It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow slogans from 1984: War is peace. They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished. Stephen King observed, "The beauty of religion mania is that it has the power to explain everything... [so] logic can be happily tossed out the window. This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots... THEIR God... is the STATE.
that's word, weed hopper. Don't be looking for your masters, cause they're trying to save their own.... in order to ask csars what to do. that's the problem. Another complexity interface to work thru. The messages aren't getting thru. On the periphery of Empire where they realy count now. London could get ugly. You're on you're own....;}
spoken like a true reaganaut. you'll get first dibs in helll.....;} in order to ask csars what to do. that's the problem. Another complexity interface to work thru. The messages aren't getting thru. On the periphery of Empire where they realy count now. London could get ugly. You're on you're own....;}
Where's Giuliani and Netanyahu. What's Poppy doin right now. Who's in PEOC tonite. Brent Scowcroft....find these people...and warren buffett...;} Military Drills tomorrow? Israeli Holidays? Rookies to replace Vet commanders and agencies? Just askin....can't be too careful....8D
you'll get first dibs in helll.....;} in order to ask csars what to do. that's the problem. Another complexity interface to work thru. The messages aren't getting thru. On the periphery of Empire where they realy count now. London could get ugly. You're on you're own....;} Ummmmmmmmmm.... Ok. Seriously.... PUT.... DOWN.... THE... BONG...
It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow slogans from 1984: War is peace. They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished. Stephen King observed, "The beauty of religion mania is that it has the power to explain everything... [so] logic can be happily tossed out the window. This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots... THEIR God... is the STATE.
Typical comment from someone with the IQ of a turnip.
“America is at that awkward stage; it's too late to work within the system, but too early to shoot the bastards.”---Claire Wolfe UP YOUR MEDS!!!!! ;} you're the only one not on drugs!!!! There's so much estrogen in America's waterways the fish are all turning female....LMFAO How's your Plunge Protection Team doin'. They still sending instructions? Heard from'em lately? Subsidy checks still arriving?
Also, CE, You need to keep in mind that the medication you take may also negatively affect your body's ability to cope with higher temperatures: Medicines many older people take also may make them more vulnerable to the heat. These include diuretics for high blood pressure, which increase urination - and make it more important to drink plenty of water. Some types of drugs can interfere with sweating and raise body temperature, including some medicines for insomnia, nausea, prostate conditions, Parkinson's disease and even Benadryl. Many list "dry mouth" as a side effect - a tip-off to drink more water. Just because the heat didn't used to bother you when you were young doesn't mean you should ignore your body's warning signs when it's getting more and more dehydrated in hot temperatures. 8D
BUWAHAHAHAHAHAHA which greenspan started. Sweet baby hesus...the criminal prescribes the anit dote.... insane...8D
You can see the problem on cnbs and the NYSE floor. The gnomes are standing on the floor like they have no problems and are in control. The problem is that they can't hold more paper. Someone was up ALL night putting their 'Assignments' together.... LMFAO The Center cannot hold...
How's that War for the Jews comin'. You guys gonna wrap that thing up anytime soon? Cause we need the $$$...8D
Greenspan didn't invent the bubble economy, he was simply an instrument of creative destruction through which many of the financial problems this nation faces today were created. Larry Summners is another such creature, as was Paulson. -btw gold is a bubble too
OF course he did: Reagan Greenspand Commodities Trading Act 1982....LMFAO NEWS FLASH: Predator drone seen circling S&P Headquarters....
Greenspan didn't 'invent' anything McGoo...economic bubbles have been with us since the dawn of civilization. If you want a more complete understanding of the goings on today you might be well served by studying the goings on in ancient Greece.
Or Spain before the defeat of the Armada...
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" I lurk to see if someone other than Myst or Pookie posts anything...
One fifth of Congress is over there on Summer break. I believe they all got a deal they couldn't turn down. It's okay, the Bible thumpers here will make excuses.
Like Reagan going to Japan...;}
Comments (60 - 76) not displayed.
Top • Page Up • Full Thread • Page Down • Bottom/LatestI'll shut down my business and become a farmer.
#20. To: Capitalist Eric (#12)
#21. To: All (#20)
(Edited)
#22. To: Thunderbird (#7)
Why should deflation remove the capitalist impulse to provide for oneself by providing for others?
#23. To: mcgowanjm (#19)
Tell me how long it takes to grow a tomato.
#24. To: mcgowanjm (#18)
who believe that the Wealthy Top 50 000 have your best interests in mind.
#25. To: mcgowanjm (#17)
I have two nieces who just got back from Pensacola. On a Deep Sea Charter they caught Two fish. And only then because the Charter went into restricted waters...
#26. To: A K A Stone (#24)
#27. To: mcgowanjm (#17)
Then by all means, go right ahead and believe them.
#28. To: Fred Mertz (#26)
You have a camel?
#29. To: A K A Stone (#27)
Why shouldn't I believe them. They have never lied to me.
#30. To: A K A Stone (#25)
They caught their limit in an hour if I recall what they said. Red snappers. I have never eaten red snapper myself. Last time I was there Tropical Storm Bill was in the area and our trip was cut to about 30 min. I was disappointed.
#31. To: All (#30)
#32. To: lucysmom (#0)
What was the S&Ps role in the mortgage crisis?
Italy raids Moody’s and Standard and Poor’s 
"We (government) need to do a lot less, a lot sooner" ~Ron Paul
#33. To: mcgowanjm (#22)
It takes money.
#34. To: mcgowanjm (#20)
$100 the acre.
And you have no idea what default is. There's a difference between 'Can't' and Won't. But you keep believing the FedRes has something left.
Freedom is slavery.
Ignorance is strength.
#35. To: Capitalist Eric (#34)
#36. To: Capitalist Eric (#34)
#37. To: Thunderbird (#33)
It takes money.
#38. To: mcgowanjm, Thunderbird (#37)
Yeah Shitbird weighs in.
#39. To: Bill D Berger (#38)
Thunderbird
#40. To: mcgowanjm (#35)
Wrong's a Religion for you, eh CE?
Freedom is slavery.
Ignorance is strength.
#41. To: mcgowanjm (#37)
#42. To: Bill D Berger (#38)
#43. To: Thunderbird, Bill D Berger (#42)
Bill D Berger: Don't tell me yukon has himself another screen name? Guess it's obvious by the juvenile posting style.
Freedom is slavery.
Ignorance is strength.
#44. To: Thunderbird (#41)
focus
#45. To: Capitalist Eric (#43)
right all along
#46. To: Bill D Berger, All (#38)
#47. To: mcgowanjm (#45)
spoken like a true reaganaut.
Freedom is slavery.
Ignorance is strength.
#48. To: Thunderbird (#42)
Hey Bill, go fuck yourself.
#49. To: Capitalist Eric (#47)
PUT.... DOWN.... THE... BONG...
#50. To: Capitalist Eric, All (#47)
#51. To: Thunderbird (#41)
Maybe you should focus a little harder on the plain fact that not everyone has spent the last 40 years engaged in irrational exurberance.
#52. To: All (#51)
#53. To: All (#52)
#54. To: mcgowanjm (#51)
which greenspan started.
#55. To: Thunderbird (#54)
Greenspan didn't invent the bubble economy
#56. To: mcgowanjm (#55)
OF course he did:
#57. To: Thunderbird (#56)
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#58. To: mcgowanjm (#53)
(Edited)
How's that War for the Jews comin'.
#59. To: mininggold (#58)
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