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Thread: Minnesota Loses AAA Rating on Budget Problems

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    Re: Minnesota Loses AAA Rating on Budget Problems

    Quote Originally Posted by Goldenboy219 View Post
    There is a major difference between the public and private sector. Anyone expecting them to behave in similar fashion is naive.
    Granted, the private sector creates all the wealth. And there is absolutely no reason why we shouldn't expect them to act more alike. If you don't have the money to build a new city building, you don't build it.

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    Re: Minnesota Loses AAA Rating on Budget Problems

    Thank you, Mr. Sutherland. More than a few people on this board are advocating we just let the day come and go. I can't imagine what they're thinking.

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    Re: Minnesota Loses AAA Rating on Budget Problems

    Quote Originally Posted by BDBoop View Post
    Thank you, Mr. Sutherland. More than a few people on this board are advocating we just let the day come and go. I can't imagine what they're thinking.
    Who said they were thinking at all?
    The ghost of Jack Kevorkian for President's Physician: 2016

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    Re: Minnesota Loses AAA Rating on Budget Problems

    Dear Idiot Pawlenty. Shut up. Really. Just shut it.

    ‘I share that with you because it's similar to the challenges seen in Washington D.C. going on with this debt ceiling limit issue. They've got the President and Republicans negotiating, and I urge our Republicans in Washington D.C. to stand strong. The only way you get real change in Washington D.C. is to draw lines in the sand. And if you notice, most politicians are like running water downhill. They want least resistance. So it's helpful, in having them do bold and courageous things, to put up some points of resistance.’ ”

    I apologize if you were drinking something hot when you read that.
    MinnPost - Millionaires, it turns out, not cool with tax increase idea

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    Re: Minnesota Loses AAA Rating on Budget Problems

    Quote Originally Posted by 1Perry View Post
    Granted, the private sector creates all the wealth.
    Really? So NASA hasn't produced anything of wealth? So the entire nuclear industry isn't some form of wealth? So every major drug the NIH produced isn't a form of wealth? So everything that gets commercialized out of public universities isn't wealth?

    Hint: It's time for you to vacate the thread.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Minnesota Loses AAA Rating on Budget Problems

    Quote Originally Posted by BDBoop View Post
    Thank you, Mr. Sutherland. More than a few people on this board are advocating we just let the day come and go. I can't imagine what they're thinking.
    Probably because they're super poor and have nothing to lose? Ever notice how it was the rich folk who championed TARP? They had the most to lose from a financial collapse.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Minnesota Loses AAA Rating on Budget Problems

    Quote Originally Posted by obvious Child View Post
    Probably because they're super poor and have nothing to lose? Ever notice how it was the rich folk who championed TARP? They had the most to lose from a financial collapse.
    Actually not. I can't really tell, but they seem to either be so pissed at the President, they're willing to do ye old "cut off nose, spite face" routine, or they ... I got nothing. One claims to be rich, but since he doesn't use punctuation half the time, I can't honestly believe he's a success in life.

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    Re: Minnesota Loses AAA Rating on Budget Problems

    Quote Originally Posted by BDBoop View Post
    Actually not.
    Well some of the detractors here have admitted to less then luxurious lives.

    I can't really tell, but they seem to either be so pissed at the President, they're willing to do ye old "cut off nose, spite face" routine, or they ... I got nothing.
    That is possible, the crazies here are numerous.

    One claims to be rich, but since he doesn't use punctuation half the time, I can't honestly believe he's a success in life.
    lol. I know what you mean. It does amuse me watching people try to compensate for piss arguments when circumstantial claims. I swear so many people here don't understand the differences between showing expertise and wealth and telling people you have it.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Minnesota Loses AAA Rating on Budget Problems

    Quote Originally Posted by obvious Child View Post
    Well some of the detractors here have admitted to less then luxurious lives.



    That is possible, the crazies here are numerous.



    lol. I know what you mean. It does amuse me watching people try to compensate for piss arguments when circumstantial claims. I swear so many people here don't understand the differences between showing expertise and wealth and telling people you have it.
    I want somebody to create an lolcat that says "Wealth. I haz it." with a butt-ugly dog wearing diamonds.

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    Re: Minnesota Loses AAA Rating on Budget Problems

    Quote Originally Posted by donsutherland1 View Post
    Yes, and deservedly so. Washington's policy makers should do well to consider the move Fitch made during Minnesota's shutdown. Even when that shutdown ends, its credit rating will almost certainly not be restored to AAA, because the bad decision making there has eroded confidence in its credit.

    In the least bad outcome related to a failure to raise the debt ceiling (a short impasse of a few days' duration during which the country meets its debt obligations), the country would be left with a higher cost of capital that would slow macroeconomic growth and worsen its budget deficits. Something lengthier (weeks or longer) that disrupts significant amounts of payments would lead to a still higher cost of capital than the previous scenario and very likely a recession. Its during that longer scenario that debtholders could refuse to roll over debt, meaning the country would need to pay both interest and principal. That outcome would increase the risks of a full-fledged debt crisis with global consequences, especially if creditors' expectations concerning U.S. credit risk are materially lowered.

    IMO, failure to raise the debt ceiling will be an extraordinarily irresponsible decision. It will also have long-lasting implications in the form of a higher cost of capital, even if it lasts just a few days.
    Careful or you'll lose your Centrist rating by me. It's really tough to get on my centrist list, since you're the only one on it. You failed to support debt reduction measures when you said not raising the ceiling was irresponsible. That puts you squarely leaning left...not center. Don't believe me, keep an eye on who's "Liking" your posts.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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