does AAA really mean jack shit?

Well it looks like Moody's and Standard and Poor's, two prestigious firms who assign credit ratings to businesses, derivatives, girls, etc, have "threatened" to remove the United States AAA credit rating.

This threat to downgrade the US's credit is backed by the argument that the government will not be able pay its bills come August 2nd if legislation is not passed. They also draw attention to he current US debt which is well over $14 trillion.

Now remember, these are the same rating firms that gave Lehman Brothers, currently being dissolved and bankrupt from the subprime mortgage crisis, and AIG, an insurance firm that at one point was 80% owned by the government, AA and AAA rating right before government intervention. Lehman held a AAA rating right up to the moment they went bankrupt. Apparently they thought this was the right call because the employees who 'analized' these companies before the collapse still have jobs and some even promotions. http://www.huffingtonpost.com/2009/09/30/credit-rating-agency-anal_n_305587.html

Correct me if I'm wrong but unless AAA means "you probably shouldn't invest, this shit is sketchy" I don't know if these ratings are entirely accurate.

The United States government is about to run out of money. The last time this was even a problem was in 1983. The budget is not balanced, government officials cannot stop bickering to come close to a resolution, and expenses are at an all time high.

Why is it that these agencies have waited until less then a week until the government defaults on its expenses to possibly lower their rating?

I'm not sure I am going to take these ratings into account during my next day trade.

check out this bear. He seems confused too

Fail

Well, in typical Washington form, we are waiting till the last minute to get this debt problem figured out .

President Obama went on national television last night in an attempt to explain why a deal has not been brokered between Republicans and Democrats on capital hill. He hoped to bring much needed explaining and insight to the American people on the current issue that is our nations finances.

Apparently, Speaker of the House, John A. Boehner, wasn't able to compromised with the President in private negotiations at the White House. As soon as the press got wind of their meeting, Boehner bailed on any progress they had made. I see a trend here.

I do not question Speaker Boehners patriotism or devotion to this country with this post, I only question his courage and ability to make the tough decisions. You cannot bail on making ANY decision when it may make your next campaign difficult. We, the people, elect these officials in the confidence that they WILL make the tough decision when they are needed, no matter WHAT it may do to their chances of being reelected.

It is common knowledge that the general public can be typically uninformed on the accurate details of current affairs. The main stream media has the ability to use decisions such as a possible Speaker Boehner agreement to a somewhat modest collaboration with liberals as treason to the GOP, but he needs to realize that this issue is bigger then his possible triffles in future campaigns.

The possible default of the United States Government is THE biggest issue on the national stage. No one knows for sure what a default for the US government could cause, but one thing is for sure; whether it be Treasury secretary Geithner, Chairman of the Federal Reserve, Ben Bernanke, or William Dudley, president of the Federal Reserve Bank of New York, the problem, it not dealt with, could leave the economy in shambles for years to come. I know in my earlier post I had mocked an artical in the Economist on how a defaulting US government may not be as bad as many analysts think, but I have given it some thought and come to a realization. Why should we have to take that risk in the first place?

Get your shit together Republicans. Stop acting like mule's and be open to suggestions. Something is better then nothing. We put y'all in office because we thought you could figure things like this out. Maybe its time for a fresh set of representative......

Lets see what Obama's 11am meeting today yields.


http://www.huffingtonpost.com/2011/07/22/obama-debt-ceiling-talks-boehner_n_907502.html

check the live blog

The Debt Ceiling bullshit

I'm starting to get tired of hearing about 'raising the debt ceiling' and how 'America's credit rating will be lower' from its esteemed 'AAA' rating.

FOX new's has just about raped this story the ammount they are airing it. Alright, so its pretty obvious that Obama has basically been spending money like an over privledged girl in Beverly Hills but whats done is done; The House and Congress need to act. I mean some of these reports talk about this issue like the apocolyps will be here come August 2nd, the suspected day the Governemnt will run out of availible funds.

The Economist ran an article in last weeks edition putting a lot of blame on the 'Tea Party' activists and Grover Norquist's, a lobbyist for American's for Tax Reform. The Economist seems to think there is potential for 'an eventuality with incalculable consequences' for the world economy unless the debt ceiling is raised. I smell liberal propoganda.

Listen, lets get to the point of this post. Instead of passing blame and bickering like a bunch of fucking sorority girls lets figure this shit out. I have the upmost confidence that a decision will be made before August 2nd, and if the government decides to hold firm on not raising the debt ceiling, then the appropriate cuts will be made.

The United States government and its representatives are not the only ones who have over borrowed and overspent. Look at the average Americans credit card debt, or the cause of this recession we find ourselves still climbing out of. Americans have a tradition of borrowing beyond their limits and wanting/having more then they might need or even want.

Instead of passing blame, we should be looking at how we should move forward in government regulation, cuts, legislation etc, and how we as American's can live more fiscally responsible lives.

Ight, ima hit the gym. Peace