[Pokerjoe]

The only real rating that counts is the market rating, and the market--an independent, massive and most excellent rating system--is still in love with the USD. Check out the interest rate on the Treasuries.

S&P, otoh, is a political organization with an admitted agenda: to dictate US economic policy.

So, which should you trust, when they're is a conflict between their estimates?

The S&P wants to cut spending and not make the rich pay their share of taxes. That's because, duh, they're controlled by the rich. It isn't complicated. And their rating has no real effect. You can not name a major investor who gives a shit about the S&P rating.

Further, the US will never default, which is why the world still parks its money in the USD. How could it default when (I'm going to yell now because it's amazing how few people understand this) OUR DEBT IS DENOMINATED IN OUR OWN CURRENCY.

That means, to some extent, it's an illusion. We can literally print up a trillion dollar bill and give it to China anytime we want, in full satisfaction of the debt. That's why our national debt isn't related to your personal debt. It's apples and oranges.

And then there's this, for the morons sweating "who owns us." The vast majority of our debt is OWNED by us. By US. Not by any other country. So again, what sense does it make to worry about how much money we owe ourselves. What sense does it even make to think of it as a debt in the traditional, personal sense.

So calm the **** down. This downgrade is just more Tea Poseur bullshit, and worrying about it is retarded.

[Fishhead]

Don't worry, leave money in the stock market and enjoy retirement


OK


LMFAO

[Iced]

Not true, it does matter.

The vast majority of the world's largest pension, mutual, and sovereign debt funds mandate investment only in AAA-rated securities.

And that means that these funds will have to immediately sell off their primary reserve asset.

[ACoochy]

[/quote]

Not true, it does matter. The vast majority of the world's largest pension, mutual, and sovereign debt funds mandate investment only in AAA-rated securities. And that means that these funds will have to immediately sell off their primary reserve asset.

[gauchojake]

UUP

[SportsMushroom]

you cant just print a trillion dollars and give it to china, the value of the dollar will crumble if there are too many dollars in circulation

what stops any country from printing more money to pay off its debts?

[TheCentaur]

The US government should bet a 20 game parlay and threaten treason and death to any player that doesn't do what they're supposed to.

[SportsMushroom]

The US government should bet a 20 game parlay and threaten treason and death to any player that doesn't do what they're supposed to.

[Emily_Haines]

market goes down 1500 in 10 days and he tells us everything is fine

[Ninersnut]

Everybody's got 2 much $$ wrapped into the US. It's not good business to let US fail. The market has been volatile for a few years now anyone who can't stomach the ups and downs needs to get out. There is always a bargain out there, you just gotta be smart enough to find it.

[Tech N9ne]

Business as usual

[aceking]

Business as usual

Bill Gates is still rich .

[gregm]

This is the first time the US's long-term rating has been cut from stable to negative since the attack on Pearl Harbor 70 years ago and its a great wake up call for Americans to get serious about whats going on in their government. I heard a guy use the term "sputnik moment" on CNBC and hopefully this wakes Americans up about the deficit and government spending.

Sputnik scared Americans and the government and gave the country a sense of drive and purpose, right now thats exactly what our nation needs.

The UK faced a downgrade before their elections and they did what had to be done.