Reading one of the links on AOL and say that as of tonight S&P dropped the countries credit rating from AAA to AA+. The markets were already down over the past day, so what do you guys think time to buy more firearms and ammo or is this just a bunch of BS.
It will never be a doomsday scenario so no need for firearms.
However get ready for a decade of bitching and moaning about govt, prices of goods, salary and of course the weather.
I know the world will keep spinning. I’m somewhere inbetween somebody with a college education that has a basic understanding of macro economics (I actually do have 2 bachelors) and a paranoid redneck who derives a certain sense of security from purchasing firearms that I really don’t need and stock piling ammo.(One of my ways of helping stimulate the economy)
It is a huge problem. Lower credit rating = higher interest rate; Doesn’t sound much if it only raise it by let say 0.5% if you were to buy a $20k car, now imagine a country that borrowed $14+ trillion, you do the math.
If you think that a person’s credit score is important, you can imagine how critical it is for a country that is in the middle of economical crisis.
Enjoy your stay…:banghead
ALWAYS time for more firearms and ammo. ammo will be new currency. just sayin.
You will be delivering ammo by the truck loads for a piece of bread once gold owners take over in 2012.
/plenty of sarcasm
S&P said if there isn’t drastic changes by our government it has the potential to fall even lower over the next couple of years.
start buying gold, i hear it’s the next big thing…oh wait…
^I wish I bought it years ago, it’s going to hit $2000/oz pretty soon.
Whats interesting is that S&Ps wants for the country match those of the republicans who didn’t get all the spending cuts they wanted and then a few days later the company dings the country’s credit rating. Sound like a private firm trying to steer the country’s politicial decissions much? Only time will tell, but it seems to me like the assholes at S&P are trying to force Obama to do what the republicans want.
The grown ups are arguing and the kids are getting in the middle of it.
I’m sure it won’t be good, but time will tell.
Sounds good to me, somebody needs to stop this guy from his ridiculous spending.
during the clinton administration, we had a surplus. now we have the greatest deficit in our history, and while many bush haters are on here. he had less debt than obama, during a heavier part of the war.
obama is like a hood rat with a seemingly limitless Visa card.
^Basically. Plus we just gave him a $2.7 trillion blank check that he will spend and then some. Also the $900 billion cuts that were alotted in the latest proposal are supposed to take place over the next 10 years will never happen since future congresses are not bound to them.
While not defending the increase of the federal debt under President Bush, it’s curious to see Clinton’s record promoted as having generated a surplus. It never happened. There was never a surplus and the facts support that position. In fact, far from a $360 billion reduction in the national debt in FY1998-FY2000, there was an increase of $281 billion.
You resident financial experts better check your stories.
By the way, useless cuts don’t help the economy.
Hard to balance a budget book when millitary blows it all away on AC and rust prevention among other things.
There are plenty of government agencies that can be eliminated that are useless.
Get rid of lobbyists and big business influence if you want to start getting out of this mess.
The stimulus turned out to be completly worthless and Obama just laughed it off when he finally admitted it. He really needs to go, sure hes not the cause of all the problems but he isnt helping anything at this point either.
No president has helped in a long time. Remember Bush stimulus. Obama is just as bad as any other guy that will take the office and replace him.
System is fucked. 80% of people are referring to Congress as a bunch of kids, and even if we get somebody decent as the president he will get fucked by ear marks and lobbyists and opposing party having their way with their interests.
well, people site that FDR’s ABC plans stimulated the economy vs. Hoover who cut everything in the prior administration.
With the economy there are too many variables to state what is going to work and what isn’t. what worked 5 years or 50 years ago, may not work now or in 10 years.
^hit the nail on the head.
It’s a global economic system that our government and these assholes at S&P are fucking with. There is also a delay in anything done, normally it takes years to fix anything that is fucked up in weeks.
Quit blaming the S&P for stating the obvious, that America has reached and possibly gone beyond the safe borrowing limit with the current economy and future demands. Do you personally think America can continue borrowing without any fear of defaulting?
Delay…so we are just waiting for what to turn around? is there some surplus i don’t know about, because the problem will only get worse until there is a balance budget. last i checked we are borrowing more money everyday?