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U.S. AA+ Credit Rating Downgrade Raises Global Anxiety


Business  (tags: business, economy, debt, credit-rating-downgrade, standard-and-poors, stock-market, money, news, investors, u.s., world, interesting, politics, government, democrats, republicans, congress, obama, finance, america, americans, society, AA+, consumers )

PinkMindy
- 1109 days ago - hosted.ap.org
The real danger from the Standard and Poors U.S. credit-downgrade is the major hit to the nation's non-existent economic recovery, delivered directly to the American consumer psyche, and of course to the already rattled global markets. Uncertainty rules!



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Comments

John S. (300)
Sunday August 7, 2011, 9:34 am
Noted. Interesting that the rating agencies disagree, in short, the debt ceiling debate did disappoint American & the rest of the world, but if the AAA rating means that much to the US, it probably doesn't really deserve it as well.
 

Alice Liddell (62)
Sunday August 7, 2011, 10:50 am
SERIOUS STUFF.

S&P had called for $4 trillion in U.S. deficit reduction. The deal cut by Congress early last week called for only about $2 trillion over the next decade. S&P said it wasn't enough to address America's debt problem.

The rating agency also said the decision reflected its loss of confidence in the U.S. political system. Republicans and Democrats didn't reach a deal on debt reduction until hours before the federal government's borrowing limit was to expire, which would have triggered a U.S. default on its debt or massive, immediate government cuts.

Economists say the downgrade, the first since the U.S. received the top rating from S&P in 1941, will rattle consumers and businesses already worried about the weak economy and the U.S. political system's inability to handle the country's problems.

Some fear the Dow Jones industrial average, which fell 512 points on Thursday alone because of fears about the economy and Europe, will plummet Monday when investors get to vent their anxiety.[sic]

~ Alice
 

John S. (300)
Sunday August 7, 2011, 2:27 pm
Japan, Canada and Australia have all been downgraded in recent years with few economic consequences, and for most Americans don't care, you can't eat a debt-limit extension.
 

Mm M. (448)
Sunday August 7, 2011, 2:58 pm
Frankly PinkMindy, I am so WOUND up about this you really don't want my comment! Just a WT?????????????
Even China is upset with the USA...(THAT YANKS MY LEASH NO END!! Never should of gotten into BED WITH EM IN THE FIRST PLACE!

 

Ingrid A. (530)
Sunday August 7, 2011, 3:02 pm
Thank you PinkMindy.
 

Carol H. (229)
Sunday August 7, 2011, 6:24 pm
noted, thank you
 

Lisa H. (180)
Sunday August 7, 2011, 6:58 pm
John, in the international markets, the US dollar has long been used as the international standard. The recent Republican terrorist acts have made a number of nations question the wisdom of this. If they change the standard, the US will NEVER AGAIN have the kind of world power we have enjoyed in the past. Most Americans don't care because they are 1)BROKE, 2)UNEMPLOYED, 3)HOMELESS, or 4)STUPID. The numbers that fit into #1,2,3 are growing, also thanks to the government that works for the 1%, by the 1%.
 

. (0)
Sunday August 7, 2011, 7:39 pm
The economic situation within the U.S.A. is so bad. . .of course they are trying to blind side the public. . .how gullible are they? ? ? It's a volatile situation that is not going to be getting any better any time soon. . .

Noted. . .thank you for being truthful. . .
 

Miriam S. (2)
Sunday August 7, 2011, 9:04 pm
:(
 

Penelope P. (222)
Monday August 8, 2011, 10:57 am
Of course people are nervous -there have been precedents and more than in 1928-Most theorists seem to think that what fast tracked 1928 was money policy like this ie controlling and cutting back govt spending -so we may be in for an interesting and bumpy ride
 

Roger Garin-michaud (61)
Monday August 8, 2011, 1:48 pm
thanks
 

caterina caligiuri (77)
Monday August 8, 2011, 3:17 pm
tks
 

Past Member (0)
Monday August 8, 2011, 7:32 pm
EXPEL the TEA BAGGERS who are responsible for this! Let's return to a normal Congress where compromise is expected and everyone is well educated. Round 2 is coming and we must eliminate the Bush Cuts and return to previously successful taxation rules for the wealthiest! ONLY THEN will the JOBS WILL COME.
Respect indigenous people, life and Nature GO VEG To IMPROVE KARMA NOW!
 

Mm M. (448)
Tuesday August 9, 2011, 7:13 am
Thanks Pink -- His "SO CALLED SPEECH" was a bunch of WAHOOY! Unless he calls back Congress everything he said is a NON-Issue...Even on the news - every channel said he came out VERY WEAK!
 

Amena Ravenwing (187)
Thursday August 11, 2011, 8:56 am


"You cannot currently send a star to Lisa because you have done so within the last week."
 

PinkMindy Ellinwood (567)
Friday August 12, 2011, 11:33 am

Extremely bad news!!!

We are now, because of the Obama Administration, economically on a downhill slide toward possible collapse in October of 2012 ... According to more and more financial analysts ... Unless a Green Alternative Energies Rebuilding of America national project is immediately undertaken ... but most feel that ship sailed through Obama's hands back in late 2009!!!!!

Another 4 years of a lame-duck presidency in grid-lock ...

ARE YOU JOKING ME???
 

. (0)
Friday August 12, 2011, 3:50 pm
The situation in the US is beyond bad, and the whole world knows it. It's not a concealable situation. We're on the brink of becoming another third world country ( if we're not there already) Signed noted and all of them fwd's
 

Charles Wasserman (17)
Saturday August 13, 2011, 4:07 pm
CONGRESS MUST CUT SPENDING BY 10 % IMMEDIATELY FOLLOWED BY 2% CUTS EACH YEAR FOR THE NEXT 20 YEARS OR WE WILL NEVER GET OUT OF DEBT.
HANG ON TO YOUR HATS FOLKS, THE WORST IS YET TO COME.
 
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