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  #1  
Old 08-06-2011, 12:33 AM
Choo Yang Choo Yang is offline
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Default S&P has given US a new credit rating

It would be interesting to see how the event of the US's credit rating drop from AAA to AA+

What are the implications of it?
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Old 08-06-2011, 11:01 AM
kate032 kate032 is offline
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Default Re: S&P has given US a new credit rating

I hope it will wake some people up to the fact that we don't have an infinite supply of money. The US and many other nations are in for a crisis if we don't seriously consider how we proceed with spending.

Stocks are going to plummet further, in my opinion, which is why I'm holding off on any new investments (and also any vacations or anything else that isn't essential). I really think the economy will worsen before it gets better.

I'm trying to imagine how the Nobel Prize committee is reacting to the fact right now that they awarded Obama the Peace Prize for his "potential." That man has failed big time, and even his most ardent supporters are against him. The US is in desperate need for real leadership.
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Old 08-06-2011, 11:46 AM
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DavidBibby DavidBibby is offline
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Default Re: S&P has given US a new credit rating

I agree with Kate.. America needs to WAKE UP!

Here's a 30 minute youtube short of I.O.U.S.A. a documentary about this financial crisis.

I.O.U.S.A

You can see the full length version on Netflix Streaming if you have it.
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Old 08-06-2011, 12:01 PM
kate032 kate032 is offline
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Default Re: S&P has given US a new credit rating

Quote:
Originally Posted by DavidBibby View Post

Here's a 30 minute youtube short of I.O.U.S.A. a documentary about this financial crisis.
That film should be required watching for every high school student, and so should a course on balancing finances in their lives. Show these kids some people with their Corvettes and then, a short time later, those people standing around waiting for public transportation because nearly everything was taken away. And maybe more importantly, show the teenagers how digging into their own curiosities about the world will make them ultimately much happier than any of the toys or designer clothes they could ever buy. If we don't get through to the children today, we can't blame them for simply carrying the torch of today's debt crisis.
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Old 08-06-2011, 12:11 PM
kate032 kate032 is offline
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Default Re: S&P has given US a new credit rating

That film was made ~3 years ago when the debt was a "mere" 8 trillion dollars. The debt is now over 14.5 trillion, darned near doubling in such an extraordinarily short amount of time.

By the time you read this post, the debt will be higher and higher and...

U.S. National Debt Clock : Real Time
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Old 08-08-2011, 09:17 AM
Choo Yang Choo Yang is offline
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Default Re: S&P has given US a new credit rating

Looks like Mr Market is very unforgiving and our dear Mr Geithner and gang got upset about the downgrade.

I think it is very wise to stay out of it unless you know how to play the game of short.
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