USA Loses AAA Credit Status on Debt Downgrade

kidman232

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NEW YORK (Reuters) - The United States lost its top-notch AAA credit rating from Standard & Poor's on Friday, in a dramatic reversal of fortune for the world's largest economy.
S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about growing budget deficits.
U.S. Treasuries, once undisputedly seen as the safest investment in the world, are now rated lower than bonds issued by countries such as the UK, Germany, France or Canada.
The outlook on the new U.S. credit rating is negative, S&P said in a statement, a sign that another downgrade is possible in the next 12 to 18 months.
(Reporting by Walter Brandimarte; Editing by Jan Paschal)

 

Betallsports

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Look for the Stock Market to be down again on Monday

 

Seymour

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There is still nothing safer in the world - period

 

snoop

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Japan lost its triple A rating early this year, the Japs 10-yr note rate is still relatively low.

The downgrading does not seem to have any impact whatsoever.

There is still hope for any of you and me who still have money stuck out there.

Lol.

 

oldmanTED

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Not good. Suspect Standard & Poors purposely waited until the markets were closed to make this announcement. Monday's market losses may make yesterday look like a drop in the bucket.

 

DeathEatsaCracker

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• #6

Betallsports said:

Look for the Stock Market to be down again on Monday

Click to expand...

LOL ya think?

 

Tico

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• #7

One word comes to mind... OBAMA ##)

 

Betallsports

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Death Eats a Cracker said:

LOL ya think?

Click to expand...

Yeah, and I have to remember to Thanks Hpark1 for his downgrade of Netflix

Made some nice Money on that Short.

 

JakeT.

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Tico said:

One word comes to mind... OBAMA ##)

Click to expand...

I hope you aren't serious. If you are, you are very shortsighted on politics. This goes back 20+ years and isn't a Dem or Repub problem specifically.

 

PatsFan1283

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I think the market is going to go down anyway but the loss of triple A credit wont have much impact. Credit agencies are behind the market in terms of rating credit worthiness. The US being downgraded was already priced in.

This is far from Armageddon

 

Seymour

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Jake T. said:

I hope you aren't serious. If you are, you are very shortsighted on politics. This goes back 20+ years and isn't a Dem or Repub problem specifically.

Click to expand...

The US government is broke becuz Bush created a fire with his spending and the current village idiot poured gas on it - two worst Presidents in US history and they come back to back - we got down graded we owe too much

 

Seymour

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PatsFan1283 said:

I think the market is going to go down anyway but the loss of triple A credit wont have much impact. Credit agencies are behind the market in terms of rating credit worthiness. The US being downgraded was already priced in.

This is far from Armageddon

Click to expand...

Probably will have no impact - my buddy just told me we got a B on the test and everyone else got D's and F's - put it on a curve and who is more reliable than us?

 

wolfie_cr

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Tico said:

One word comes to mind... OBAMA ##)

Click to expand...

Ya, any other President from either party (which is pretty much the same, you know, the republicrats....) would have done things differently......like the bank bailout (which was done by the previous guy)

 

macb

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has nothing to do with the presidents mentioned. the whole fucking mess in washington needs to be cleaned up. "for the people" ? Ya, My ASS !!!^<<^

 

festeringZit

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macb said:

has nothing to do with the presidents mentioned. the whole fucking mess in washington needs to be cleaned up. "for the people" ? Ya, My ASS !!!^<<^

Click to expand...

Bullshit.

Bush and Obama spent trillions like it grew on trees.

 

donkeybucks

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Honest to God. It would have been best for the government to not get involved with the housing debacle. The markets would have shed off the fleas by this point and be recovering nicely by this point. Bush, the Car companies, all that shit.....let it fail....the market will correct itself way more quickly than what the government can do. Way to generic of an argument but the point is less government is better..I'm a believer in taking the medicine quickly rather than dragging it out.