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Thread: United States loses its AAA Credit rating from S & P

  1. #361
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by deltabtry View Post
    hey Goldenboy, you have to change that avatar, I keep catching myself staring at it, I am going to turn into a Patrick.
    Which is the plan; subconscious hypnotization!
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: United States loses its AAA Credit rating from S & P

    Kinda looks like the wingers really screwed the pooch this time. In this case it was the weeper of the house John Boehner asking wall street how much wiggle room he had.


    < how close Congress could push to the debt limit deadline without sending interests rates soaring and causing stock prices to go lower,>


    And he got this answer.


    < Wall Street executives say even pushing close to the deadline — or talking about it — could have grave consequences in the marketplace.


    Read more: Wall Street executives warn John Boehner on debt limit - Ben White - POLITICO.com

    >




    .
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

  3. #363
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by deltabtry View Post
    hey Goldenboy, you have to change that avatar, I keep catching myself staring at it, I am going to turn into a Patrick.
    It makes me dizzy. I have to look away.
    “In politics, stupidity is not a handicap.” -Napoleon

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by winston53660 View Post
    I'm sorry you can not take belief to the bank.
    But yet we did.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by washunut View Post
    I think more people are coming to understand what you mention above often called behavioral economics. There is a lot to be said about the way people feel about the economy.

    However there is a price being paid for the culling out of the manufacturing sector in the U.S. People had to replace jobs that were relatively high paying with low paying service sector jobs. America paid the price for expanding the middle class for many millions in Asia. Where is the growth in the US. Service sector and health care.
    Indeed we need to do more than be positive but we need a president that knows how to do both. Obama can't even take a position.

    It would have been great if Obama had elected to spend the first two years of his Presidency on long term economic issues like free trade versus fair trade like he talked about during his campaign. Maybe he can begin to address the long term economic needs of the country. He can afford to. he will have $1 billion in campaign funds and a weak opponent. Plus the country is looking for real solutions to a very difficult set of problems. maybe this is too optimistic but there is a possibility.
    He had a few economic ideas that I supported but I've not heard a mention of any of them. My prediction is that we won't either unless we see Geithner leave first.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by apdst View Post
    Actually, it was the tax cuts after WW2 that did it.

    If it were true that the war ended the depression, then why are we pulling out of Iraq and Afghanistan? Why do Libbos support massive defense cuts? Why are we in a depression, now? Where does the money come from for all that spending?
    We were in a major hole after the war. It wasn't the war. People struggled all through the war. Many things were rationed.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Goldenboy219 View Post
    Look at the dates....
    Sorry, you'll have to explain your point. Did the war help unemployment? Of course. We emerged in far worse financial shape.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by StillBallin75 View Post
    What brought our economy out of the recession wasn't that we "won" World War II, it was that we fought it, and the demand for war materiel mobilized the country's economic production...

    Of course winning the war and not being occupied helps.
    We were in a major hole. Yes, the government could dig us into an even bigger hole but that's hardly going to solve things. The government spent, spent spent the last 3 years and unemployment has went up.

    Why? Nobody has faith or trust in anything that is done.
    Last edited by 1Perry; 08-06-11 at 08:02 PM.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by 1Perry View Post
    Sorry, you'll have to explain your point. Did the war help unemployment? Of course. We emerged in far worse financial shape.
    Recessions are characterized by bouts of increasing job losses. War spending created so many jobs that by 1944, unemployment was at a record low 1.2%. Yes there was rationing; but being in the middle of the largest global conflict ever can be a strain on resources.

    The depression ended in the late 1930's (June of 1938 to be exact).
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by mertex View Post
    Geez, I wonder how long it will be before most of us start feeling the effects of this downgrade?

    It sure doesn't look good - and I'm thinking conservatives think they are going to be able to pin this on Obama!
    Breitbart.tv » Small Businesswoman’s Epic Rant Against Obama’s Disastrous Economic Policies

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