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Subject: Downgrade

Written By: AmericanGirl on 08/05/11 at 8:31 pm

http://abcnews.go.com/Business/standard-poors-downgrades-us-credit-rating-aaa-aa/story?id=14220820

Subject: Re: Downgrade

Written By: ChuckyG on 08/05/11 at 10:11 pm

Way to go congress! The Republicans have been trying to kill the government for years and they're finally starting to make some real progress.

Subject: Re: Downgrade

Written By: King Tut on 08/05/11 at 11:55 pm

Republicans will use the downgraded rating and blame Obama for it, in order to make their pitch for getting into the white house next election. Will they succeed or not? Time will tell.

Subject: Re: Downgrade

Written By: LyricBoy on 08/06/11 at 7:46 am

Damn those rat bastards at Standard & Poors.

How dare they criticize Uncle Sam's penchant to spend like a drunken sailor!  :o

Subject: Re: Downgrade

Written By: Don Carlos on 08/06/11 at 10:54 am


Damn those rat bastards at Standard & Poors.

How dare they criticize Uncle Sam's penchant to spend like a drunken sailor!  :o


Actually, that's not exactly why the downgrade

Subject: Re: Downgrade

Written By: danootaandme on 08/06/11 at 4:36 pm

Standard & Poors, the guys who gave Lehmann Brothers and Goldman Sachs triple a ratings on their sub prime mortgage schemes until the day they collapsed?  S&P who just admitted they under valued the US economy by a couple of trillion?  Open up the cynical self eyes and dig a little deeper as to what is going on here.

Subject: Re: Downgrade

Written By: LyricBoy on 08/06/11 at 6:47 pm

Government spending is too high.  Period.

By the way, I have no problem if the government got SERIOUS about spending cuts, of having a little tax increase action as part of a deal.  But let me cite an example that is typical of what is going on in America.

My house (a private residence - I own it) is located on a college campus in Pennsylvania.  When Governor Corbett slashed Penn State's allocation by 20% there was an outcry like you would not believe.... "Governor is short sighted", "Corbett is anti-education"... the whole bit.

Well... even after a 20% commonwealth allocation cut... this local campus found the money to spend $2,000,000 on a 2000 square foot 'fitness center'.  Note that the campus already has a very nice gymnasium building, a couple of above-average baseball fields, a nice complement of tennis courts, and great land for jogging or walking.

Their logic was that an alumnus ponied up a $100,000 contribution and if they did not build the fitness center well, that money would go to waste.  The school a couple a weeks ago just jacked up its tuition another 5% or so.

Bottom line is we have to starve these mofos of money because as long as they have it in their hot hands, they'll spend it.  They don't care if the money is borrowed or confiscated from the taxpayer... they just like spending it.

Subject: Re: Downgrade

Written By: CatwomanofV on 08/06/11 at 6:56 pm


Government spending is too high.  Period.

By the way, I have no problem if the government got SERIOUS about spending cuts, of having a little tax increase action as part of a deal.  But let me cite an example that is typical of what is going on in America.

My house (a private residence - I own it) is located on a college campus in Pennsylvania.  When Governor Corbett slashed Penn State's allocation by 20% there was an outcry like you would not believe.... "Governor is short sighted", "Corbett is anti-education"... the whole bit.

Well... even after a 20% commonwealth allocation cut... this local campus found the money to spend $2,000,000 on a 2000 square foot 'fitness center'.  Note that the campus already has a very nice gymnasium building, a couple of above-average baseball fields, a nice complement of tennis courts, and great land for jogging or walking.

Their logic was that an alumnus ponied up a $100,000 contribution and if they did not build the fitness center well, that money would go to waste.  The school a couple a weeks ago just jacked up its tuition another 5% or so.

Bottom line is we have to starve these mofos of money because as long as they have it in their hot hands, they'll spend it.  They don't care if the money is borrowed or confiscated from the taxpayer... they just like spending it.



It is not a matter of the fact that they are spending-it is a matter of what they are spending it on. They SHOULD be spending it on repairing our roads & bridges and they shouldn't be giving it to oil companies & people who fly corporate jets. They SHOULD be spending it on our schools, and they shouldn't be spending so much on our military. It is called getting your priorities straight.



Cat

Subject: Re: Downgrade

Written By: LyricBoy on 08/06/11 at 7:53 pm



It is not a matter of the fact that they are spending-it is a matter of what they are spending it on. They SHOULD be spending it on repairing our roads & bridges and they shouldn't be giving it to oil companies & people who fly corporate jets. They SHOULD be spending it on our schools, and they shouldn't be spending so much on our military. It is called getting your priorities straight.

Cat


No, it is a matter of the spending period.  So in my local county, the Aliquippa School District, which (a) receives the highest per-student state subsidy and (b) SPENDS MORE than any other distrct in the county per-student, is also crying poor-mouth because due to state funding cuts they won't be able to hold full-day kindergarten.  The district has been sponging off the state for decades and has nothing to show for it except multiple basketball and football champs, an absurd crime rate, and a desire for more money.

Hard to understand since lesser-funded districts still have all-day kindergarten.  Aliquippa has been so doped-up on money that when somebody finally cuts off the spigot, they throw their little tantrum.  Meanwhile the school is stuffed with all sorts of administrative and teacher-aide positions that are featherbedded and unneccessary (didn't have them 35 years ago and the kids fared vastly better, and with much larger class sizes).  Get rid of those worthless positions and they could easily have all-day kindergarten (read: free day care in disguise).

One of the problems in our country is that everybody thinks that THEIR spending is essential and it is the "other guy" who spends on the wrong things.  We've got to cut the head off this snake and that's the total budget.

Subject: Re: Downgrade

Written By: danootaandme on 08/06/11 at 8:14 pm


No, it is a matter of the spending period.  So in my local county, the Aliquippa School District, which (a) receives the highest per-student state subsidy and (b) SPENDS MORE than any other distrct in the county per-student, is also crying poor-mouth because due to state funding cuts they won't be able to hold full-day kindergarten.  The district has been sponging off the state for decades and has nothing to show for it except multiple basketball and football champs, an absurd crime rate, and a desire for more money.

Hard to understand since lesser-funded districts still have all-day kindergarten.  Aliquippa has been so doped-up on money that when somebody finally cuts off the spigot, they throw their little tantrum.  Meanwhile the school is stuffed with all sorts of administrative and teacher-aide positions that are featherbedded and unneccessary (didn't have them 35 years ago and the kids fared vastly better, and with much larger class sizes).  Get rid of those worthless positions and they could easily have all-day kindergarten (read: free day care in disguise).

One of the problems in our country is that everybody thinks that THEIR spending is essential and it is the "other guy" who spends on the wrong things.  We've got to cut the head off this snake and that's the total budget.


Like Cat said, it is what they spend the money on.  The district is spending money on sports and not on education, on incompetent patronage positions instead of quality teachers. 

Subject: Re: Downgrade

Written By: Foo Bar on 08/06/11 at 9:13 pm


No, it is a matter of the spending period.


NO.

It is NOT a matter of "the spending, period", period.

Read the goddamn report itself.  

It's the hyperpartisanship, not the spending.


"More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook to the rating on April 18, 2011."

~snip~

"Since then, we have changed our view of the difficulties in bridging the gulf between the political parties over fiscal policy, which makes us pessimistic about the capacity of Congress and the Administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government's debt dynamics any time soon."

~snip~

"We lowered our long-term rating on the U.S. because we believe that the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate indicate that further near-term progress containing the growth in public spending, especially on entitlements, or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process."

~snip~

"Republicans and Democrats have only been able to agree to relatively modest savings on discretionary spending while delegating to the Select Committee decisions on more comprehensive measures. It appears that for now, new revenues have dropped down on the menu of policy options. In addition, the plan envisions only minor policy changes on Medicare and little change in other entitlements, the containment of which we and most other independent observers regard as key to long-term fiscal sustainability."


Lenders don't care where the money comes from, so long as the debt is paid back.  Increasing taxes or cutting spending are interchangeable options when it comes to creditworthiness.  (Just as it is with a household:  If you want to stop your bank from foreclosing on your mortgage?  Pimp a Camry with 18" rims instead of an Escalade with 24" rims.  Or you could get a job that pays more.  The bank doesn't care which, so long as you pay your bills!)

Of course I'm just making that analogy up out of whole cloth as a straw man argument to justify more spending, right?


Standard & Poor's takes no position on the mix of spending and revenue measures that Congress and the Administration might conclude is appropriate for putting the U.S.'s finances on a sustainable footing.


Except that I wasn't.

You're entitled to your own opinions, but you are not entitled to your own facts.

P.S.  As a capitalist, who seeks to live off the proceeds from his own investments, rather than by exchanging his labor for wages, allow me to put it another way:  I loathe income tax on moral grounds, but even I know a good trade when I see one, to wit -- even I would rather pay an extra 1% in income tax than lose 15% of my life's savings, like I did last week, because a bunch of raving farktards on the Hill couldn't figure out whether an extra $100B/year over ten years was worth worrying about.  If I'd known they were that incompetent, I'd have bought the triple-inverse TZA three weeks ago and retire tomorrow a wealthy man.  

P.T. Barnum used to say you'd never go broke underestimating the intelligence of the American public.

I think we're now at a point where the only way to avoid going broke is to not only underestimate the intelligence of the American electorate, but that you must also by extension strive to underestimate the intelligence of the incompetent wankstains they nominate for election to public office.

Subject: Re: Downgrade

Written By: Don Carlos on 08/07/11 at 11:04 am

Thanks Foo, Karma

Subject: Re: Downgrade

Written By: CatwomanofV on 08/07/11 at 11:45 am


No, it is a matter of the spending period.  So in my local county, the Aliquippa School District, which (a) receives the highest per-student state subsidy and (b) SPENDS MORE than any other distrct in the county per-student, is also crying poor-mouth because due to state funding cuts they won't be able to hold full-day kindergarten.  The district has been sponging off the state for decades and has nothing to show for it except multiple basketball and football champs, an absurd crime rate, and a desire for more money.

Hard to understand since lesser-funded districts still have all-day kindergarten.  Aliquippa has been so doped-up on money that when somebody finally cuts off the spigot, they throw their little tantrum.  Meanwhile the school is stuffed with all sorts of administrative and teacher-aide positions that are featherbedded and unneccessary (didn't have them 35 years ago and the kids fared vastly better, and with much larger class sizes).  Get rid of those worthless positions and they could easily have all-day kindergarten (read: free day care in disguise).

One of the problems in our country is that everybody thinks that THEIR spending is essential and it is the "other guy" who spends on the wrong things.  We've got to cut the head off this snake and that's the total budget.



You have never been in a classroom lately, have you? Many of the kids today are dealing with so much sh!t it would make your head spin. Hunger is just one issue but there is also domestic abuse, some of those kids probably haven't seen their fathers in over ten years since these wars started. Not to mention how many kids are on drugs-I'm not talking about illicit drugs. I'm talking about the ones that are being prescribed to kids-like Ritlin and the like. Teachers are excepted to do EVERYTHING from being social workers to parents. And thanks to No Child Left, the teachers are forced to teach a test-which doesn't mean anything anyway. And if the teacher can't reach the kid, then it is the teacher to is blamed. It doesn't matter that the kid doesn't do their work-it is all the teacher's fault.


Oh, and did I mention that they do this all the time they get paid basically minimum wage. And having a teacher's aide can really help a teacher. That teacher's aide can spend more time on a child who has a learning disability so one of two things doesn't happen. 1. The teacher can spend a lot of time on one thing so the kid with the learning disability can keep up with the rest of the class-but the rest of the class will probably get bored or 2. The teacher can just move on so the one with the learning disability will be left behind and if it happens, often enough, that person will eventually drop out of school because they are not teaching them anything-because they are being left behind.


Some time you really should go into a school and just observe what happens on a day to day basis. It just may open your mind a little bit.



Cat 

Subject: Re: Downgrade

Written By: ChuckyG on 08/07/11 at 1:09 pm

"We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act." - Standards & Poor

all you need to know right there... the "no new taxes" folks are what caused the downgrade.  Obama had already cut military spending since taking office, but was unable to let the tax cuts expire for the top 1% who frankly do nothing but drain our country.

Subject: Re: Downgrade

Written By: 80s_cheerleader on 08/07/11 at 4:43 pm



You have never been in a classroom lately, have you? Many of the kids today are dealing with so much sh!t it would make your head spin. Hunger is just one issue but there is also domestic abuse, some of those kids probably haven't seen their fathers in over ten years since these wars started. Not to mention how many kids are on drugs-I'm not talking about illicit drugs. I'm talking about the ones that are being prescribed to kids-like Ritlin and the like. Teachers are excepted to do EVERYTHING from being social workers to parents. And thanks to No Child Left, the teachers are forced to teach a test-which doesn't mean anything anyway. And if the teacher can't reach the kid, then it is the teacher to is blamed. It doesn't matter that the kid doesn't do their work-it is all the teacher's fault.


Oh, and did I mention that they do this all the time they get paid basically minimum wage. And having a teacher's aide can really help a teacher. That teacher's aide can spend more time on a child who has a learning disability so one of two things doesn't happen. 1. The teacher can spend a lot of time on one thing so the kid with the learning disability can keep up with the rest of the class-but the rest of the class will probably get bored or 2. The teacher can just move on so the one with the learning disability will be left behind and if it happens, often enough, that person will eventually drop out of school because they are not teaching them anything-because they are being left behind.


Some time you really should go into a school and just observe what happens on a day to day basis. It just may open your mind a little bit.



Cat 
You forgot one MAJOR factor that was not so prevalent 35 years ago...mainstreaming!  Today, there are few "Special Ed" programs, and even fewer "all-day" ones. A majority of kids who used to be in the "SE" programs are now in regular classrooms...kids with Down's syndrome, autism, etc. Some schools have individual aides with these kids, others don't.

Not to mention, the AMOUNT of things these teachers, particularly grade school, are expected to teach the kids...it's UNREAL!  I remember being in kindergarten and learning our alphabet and how to write letters and our names...now they're expected to go IN knowing how to do that and are learning addition and subtraction!  My 10 year old is learning ALGEBRA, for gods sake!  I didn't learn about variables until 7th grade (which is when I took Pre-Algebra)...he learned about them in 4th grade!!!

Subject: Re: Downgrade

Written By: MaxwellSmart on 08/07/11 at 5:02 pm


"We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act." - Standards & Poor

all you need to know right there... the "no new taxes" folks are what caused the downgrade.  Obama had already cut military spending since taking office, but was unable to let the tax cuts expire for the top 1% who frankly do nothing but drain our country.


AND McConnell and Boehner were so pleased with the outcome of holding the U.S. economy for ransom, they promised to repeat the fiasco every time Congress has to raise the debt ceiling!
::)

Subject: Re: Downgrade

Written By: CatwomanofV on 08/07/11 at 5:49 pm


You forgot one MAJOR factor that was not so prevalent 35 years ago...mainstreaming!  Today, there are few "Special Ed" programs, and even fewer "all-day" ones. A majority of kids who used to be in the "SE" programs are now in regular classrooms...kids with Down's syndrome, autism, etc. Some schools have individual aides with these kids, others don't.

Not to mention, the AMOUNT of things these teachers, particularly grade school, are expected to teach the kids...it's UNREAL!  I remember being in kindergarten and learning our alphabet and how to write letters and our names...now they're expected to go IN knowing how to do that and are learning addition and subtraction!  My 10 year old is learning ALGEBRA, for gods sake!  I didn't learn about variables until 7th grade (which is when I took Pre-Algebra)...he learned about them in 4th grade!!!



I happen to think there are some benefits to mainstreaming. There are also a downside to it, too. But not every school district can have a SE program. In Vermont, most schools are rural. The school that I did my student teaching at has 149 students from PK-8 with 13 teachers. The school that is just around the corner from where I am sitting right now is a little bigger PK-8 with 345 students and 33 teachers. The high school is a bit bigger because it combines these two elementary schools plus a couple of other schools. It has 521 students & 45 teachers. I'm not sure how much of that population are special needs kids. I just know when I was student teaching, we had 11 5th graders & 20 6th graders. Even though we had both classes together for many subjects, the majority of the time, we just had the 5th graders. And out of those 10, half of them had learning disabilities and it was very challenging to begin with but trying to find the balance between keeping the above average kids (there were 4) from getting bored and lot losing the ones who had trouble. But also not neglecting those who fell in the middle, too.



Cat

Subject: Re: Downgrade

Written By: 80s_cheerleader on 08/07/11 at 7:50 pm



I happen to think there are some benefits to mainstreaming. There are also a downside to it, too. But not every school district can have a SE program. In Vermont, most schools are rural. The school that I did my student teaching at has 149 students from PK-8 with 13 teachers. The school that is just around the corner from where I am sitting right now is a little bigger PK-8 with 345 students and 33 teachers. The high school is a bit bigger because it combines these two elementary schools plus a couple of other schools. It has 521 students & 45 teachers. I'm not sure how much of that population are special needs kids. I just know when I was student teaching, we had 11 5th graders & 20 6th graders. Even though we had both classes together for many subjects, the majority of the time, we just had the 5th graders. And out of those 10, half of them had learning disabilities and it was very challenging to begin with but trying to find the balance between keeping the above average kids (there were 4) from getting bored and lot losing the ones who had trouble. But also not neglecting those who fell in the middle, too.



Cat
Oh, there DEFINITELY are benefits...I think it benefits not only the students BEING mainstreamed, but their classmates as well (but that's an entirely different discussion ;)).. The point I was making is that an even bigger reason in the larger school districts for aides is because of mainstreamed kids. There WAS no need for TAs "back in the day" because a majority of these kids weren't IN a "regular" classroom setting, they were kept in a separate classroom and THAT'S where the aides were (depending on need, my school had 1 in each SE class and we weren't even a large district, nor did we have many physically/mentally challenged students). Add that to the fact that the teachers are now being required to younger (both physically AND mentally) students as well as those who might be mentally challenged, and there's your "need" for aides in the classrooms.

Subject: Re: Downgrade

Written By: Tia on 08/07/11 at 9:11 pm


AND McConnell and Boehner were so pleased with the outcome of holding the U.S. economy for ransom, they promised to repeat the fiasco every time Congress has to raise the debt ceiling!
::)
well, they'll stop when they have a republican in the white house again and decide they no longer care about the debt ceiling.

i mean seriously, who ARE these people? how in god's name do they sleep nights? seriously.

Subject: Re: Downgrade

Written By: 80s_cheerleader on 08/07/11 at 9:48 pm

I want some of the stuff Boehner's taking:

"In response to Friday’s historic credit downgrade Republicans lashed out at President Obama, attributing the downgrade to Obama’s actions. Republican Speaker of the House John Boehner led the charge blasting the President’s recent debt ceiling bill “I warned the President that his plan didn’t cut spending enough but he didn’t listen.” Boehner went on to suggest that further spending cuts be enacted immediately saying “Right now we cannot afford the EPA, the NEA, the NSF, or the SEC. It’s time to cut the alphabet soup and get back to running this country.”

Asked by NBC’s Jim Avola if the GOP could share any blame in the credit downgrade, an angry Boehner, turning a deep red and slamming his hounds on a stated bluntly “let me be clear with the American public- the GOP has been following the same policies since Ronald Regean was President- the fact is you have a radical left-wing extremist in the White House that won’t let us fix the problems he created.”

Responding to NBC’s Kelly O’Donell’s request to understand how the GOP planned to address the new reality of the US- Boehner ejaculated “tax cuts!” Boehner then told reporters he was going to be submitting a bill when Congress reconvenes in late September that would “give Job Creators incentives to create jobs.”

(Emphasis added by me)

Okay, FIRST of all, didn't Obama's plan call for MORE spending cuts than his?  SECOND, how the hell are you going to solve a DEBT problem by cutting REVENUE EVEN MORE???  HELLOOOO!!!  Earth to Boehner!!!  Let me guess, math was not your best subject was it?

Subject: Re: Downgrade

Written By: Tia on 08/07/11 at 9:56 pm

yeah, boner, that's what we should do in response to a banking crisis sparked by bankers gone wild: get rid of the SEC.

god, can we PLEASE not repeat herbert hoover's mistakes? i'm getting really annoyed over here now.

Subject: Re: Downgrade

Written By: Tia on 08/07/11 at 9:59 pm

also, i know it was (or at least i assume it was) a cellphone autocorrect, but i love how boehner's slamming his hounds. what'd those hounds ever do to you, boehner?

Subject: Re: Downgrade

Written By: 80sfan on 08/07/11 at 11:14 pm

I'm a bit nervous about how this is going to affect the markets tomorrow!  :-\\

Subject: Re: Downgrade

Written By: MaxwellSmart on 08/07/11 at 11:36 pm


well, they'll stop when they have a republican in the white house again and decide they no longer care about the debt ceiling.

i mean seriously, who ARE these people? how in god's name do they sleep nights? seriously.


How do they get to sleep with anybody else?
???

Subject: Re: Downgrade

Written By: Tia on 08/07/11 at 11:37 pm


I'm a bit nervous about how this is going to affect the markets tomorrow!  :-\\
i don't blame you.

Subject: Re: Downgrade

Written By: 80sfan on 08/08/11 at 12:33 am


i don't blame you.


I feel like I'm walking on eggshells with the economy right now. Ouch, eggshells!

Subject: Re: Downgrade

Written By: Tia on 08/08/11 at 7:00 am


I feel like I'm walking on eggshells with the economy right now. Ouch, eggshells!
me too, although the conspiracy theorist in me thinks maybe that's part of the point. nervous workers are less likely to make waves.

Subject: Re: Downgrade

Written By: 80sfan on 08/08/11 at 9:34 am


me too, although the conspiracy theorist in me thinks maybe that's part of the point. nervous workers are less likely to make waves.


This is one of those times I hate being right! The Dow is down 324+ points as of now.  :\'(

Subject: Re: Downgrade

Written By: Tia on 08/08/11 at 10:28 am


This is one of those times I hate being right! The Dow is down 324+ points as of now.  :\'(


why oh why didn't we take the blue pill?

Subject: Re: Downgrade

Written By: CatwomanofV on 08/08/11 at 11:46 am

Even my wonderful stock has gone down.  :\'( :\'( :\'(  Thanks a lot, Mr. Bonehead!



To quote Keith Olbermann:


MR. BOEHNER, WHERE ARE THE JOBS??!!!!




Cat

Subject: Re: Downgrade

Written By: 80sfan on 08/08/11 at 1:34 pm


Even my wonderful stock has gone down.  :\'( :\'( :\'(  Thanks a lot, Mr. Bonehead!



To quote Keith Olbermann:


MR. BOEHNER, WHERE ARE THE JOBS??!!!!




Cat


I'm so sorry.

Subject: Re: Downgrade

Written By: MaxwellSmart on 08/08/11 at 6:19 pm

Total Dow/Jones loss today: -634 points.

The worst loss since December 1, 2008.
http://www.inthe00s.com/smile/04/eek2.gif

Subject: Re: Downgrade

Written By: 80sfan on 08/08/11 at 7:03 pm


Total Dow/Jones loss today: -634 points.

The worst loss since December 1, 2008.
http://www.inthe00s.com/smile/04/eek2.gif


The chickens have come home to hatch like they like to say. Sigh:.  :-\\

Subject: Re: Downgrade

Written By: Brian06 on 08/08/11 at 7:16 pm

I hope the tea party is happy, this is all their doing. Thanks to their playing political games with the US economy, the US is downgraded and markets are tanking worldwide.  >:(

Subject: Re: Downgrade

Written By: King Tut on 08/08/11 at 7:58 pm


Total Dow/Jones loss today: -634 points.

The worst loss since December 1, 2008.
http://www.inthe00s.com/smile/04/eek2.gif

And the TSE (Toronto stock exchange) lost almost 500 points as well, it's biggest drop since March, 2009. What happens in America often affects us in Canada (America Jr.)

Subject: Re: Downgrade

Written By: Emman on 08/08/11 at 8:11 pm

Get Ur Done Har Har Har :D :D :D










^The Tea Party Repulicians

Subject: Re: Downgrade

Written By: Emman on 08/08/11 at 8:20 pm

On a serious note, the cuts were just not enough, especially 2.5 trillion dollars over a 10 year period. I guess this means gold and silver prices are fixing to launch to the moon, as I get the distinct feeling we are about to spend a s*** ton of money over the next 2 years(maybe with another round of failed quantitative easing).

Subject: Re: Downgrade

Written By: Foo Bar on 08/08/11 at 9:17 pm


Total Dow/Jones loss today: -634 points.

The worst loss since December 1, 2008.


http://i.imgur.com/bfK1A.jpg


http://www.inthe00s.com/smile/04/eek2.gif


Check the futes.  Dow opens -217 lower than today's close, as of this post.

Subject: Re: Downgrade

Written By: MaxwellSmart on 08/08/11 at 9:35 pm



Check the futes.  Dow opens -217 lower than today's close, as of this post.


Any hope for a rally this week?  The appleseeds are getting nervous and when they get nervous, I get nervous!
:o

Subject: Re: Downgrade

Written By: Foo Bar on 08/08/11 at 10:33 pm


Any hope for a rally this week?  The appleseeds are getting nervous and when they get nervous, I get nervous!
:o


Honestly, I haven't a clue.  Watch the Bernanke's announcement tomorrow.  If QE3ish language, buy $TNA, if not, buy $TZA and watch the world burn.

Subject: Re: Downgrade

Written By: MaxwellSmart on 08/08/11 at 11:25 pm


Honestly, I haven't a clue.  Watch the Bernanke's announcement tomorrow.  If QE3ish language, buy $TNA, if not, buy $TZA and watch the world burn.


Thanks for the tips, but I can scarcely buy stuff for around the house!
::)

Subject: Re: Downgrade

Written By: Foo Bar on 08/09/11 at 12:42 am


Thanks for the tips, but I can scarcely buy stuff for around the house!
::)


In any serious economic collapse, have the three precious metals available: gold, silver, and lead (because the first two make lousy bullets.)

In lieu of that, get a 50lb bag of rice, a 10lb bag of dried beans, and a few months' worth of water purification tablets.  Seal 'em all up, put 'em in the closet, and chill out.  Because by the time you get to use them, the only economy that matters will be "what do you have for which it's worth barteringwith your neighbors".

Can't afford 50lb of rice and 10lb of beans?  Divide the numbers by ten and use a bunch of resealable Ziploc bags.

Subject: Re: Downgrade

Written By: danootaandme on 08/09/11 at 4:09 am

My retirement is back where it was at the initial collapse.  It took this long to get back where it was, that means my earnings have stagnated for the past 3 years. Of course the brokers still get there fees.  Gee, I have an idea, why don't I put my social security in the stock market, then those brokers can get an even heftier commission and I am sure they will use it to create jobs.  That should take care of it.

Subject: Re: Downgrade

Written By: Tia on 08/09/11 at 9:57 am

crap, market's rallying. i really did think about buying in yesterday and selling today. next time. these days it seems like every few years there's a crash.

Subject: Re: Downgrade

Written By: Don Carlos on 08/09/11 at 10:23 am


And the TSE (Toronto stock exchange) lost almost 500 points as well, it's biggest drop since March, 2009. What happens in America often affects us in Canada (America Jr.)


There's an old saying "when the U.S. catches a cold, everyone else get pneumonia" but what happens when the U.S. gets pneumonia?

Subject: Re: Downgrade

Written By: ChuckyG on 08/09/11 at 5:36 pm


My retirement is back where it was at the initial collapse.  It took this long to get back where it was, that means my earnings have stagnated for the past 3 years. Of course the brokers still get there fees.  Gee, I have an idea, why don't I put my social security in the stock market, then those brokers can get an even heftier commission and I am sure they will use it to create jobs.  That should take care of it.



GWB of 2006 is that you?  remember when Bush complained that the SS funds should be invested in the market.. whoa boy that would be awesome!

Subject: Re: Downgrade

Written By: King Tut on 08/09/11 at 6:45 pm


There's an old saying "when the U.S. catches a cold, everyone else get pneumonia" but what happens when the U.S. gets pneumonia?

When the US gets pneumonia, we all need a tall one filled with your favorite elixir, and drink from this.
http://images4.cpcache.com/product/519326574v2_480x480_Front.jpg

Music from "The Doors" is necessary optional.

Subject: Re: Downgrade

Written By: MrCleveland on 08/09/11 at 7:37 pm

My parents told me to put money in Stocks...luckily I didn't!

I put my money mostly in a Federal Credit Union.

Subject: Re: Downgrade

Written By: MaxwellSmart on 08/09/11 at 7:41 pm


My parents told me to put money in Stocks...luckily I didn't!

I put my money mostly in a Federal Credit Union.


The standard Ward Cleaver advice was,
"Invest in government bonds, son."

And that's exactly what investors did after the U.S. credit rating was downgraded.  Hmmmm....
???

Subject: Re: Downgrade

Written By: Emman on 08/09/11 at 10:09 pm

THIS MAN SPEAKS THE TRUTH!!!  ;)  THIS IS WHAT OBAMA NEEDS TO DO, WHAT RATIGAN SAID, but I imagine that ain't gonna happen, he's bought too.

http://www.youtube.com/watch?v=2Z1XOBDbIy0&feature=player_embedded

Subject: Re: Downgrade

Written By: 80s_cheerleader on 08/10/11 at 12:37 am


Even my wonderful stock has gone down.  :\'( :\'( :\'(  Thanks a lot, Mr. Bonehead!



To quote Keith Olbermann:


MR. BOEHNER, WHERE ARE THE JOBS??!!!!




Cat
Gee, Cat, haven't you been listening???  We haven't cut taxes enough!!!  We need to cut taxes more so companies can put more $$ in the CEO's pocket create more jobs...More jobs=more middle class Americans paying taxes=more revenue for Congress to piss away.  GEEZ!!!

Subject: Re: Downgrade

Written By: Tia on 08/10/11 at 7:06 am


THIS MAN SPEAKS THE TRUTH!!!  ;)  THIS IS WHAT OBAMA NEEDS TO DO, WHAT RATIGAN SAID, but I imagine that ain't gonna happen, he's bought too.

http://www.youtube.com/watch?v=2Z1XOBDbIy0&feature=player_embedded
that was a pretty awesome rant. i like about 4:23, this chick at a computer turns around and looks at dylan like, gawd, can you KEEP IT DOWN? and i agree with you, he's totally right.

Subject: Re: Downgrade

Written By: 80s_cheerleader on 08/10/11 at 7:26 am


that was a pretty awesome rant. i like about 4:23, this chick at a computer turns around and looks at dylan like, gawd, can you KEEP IT DOWN? and i agree with you, he's totally right.
And Williams just sits there like he's had too much Xanax and it's time for another~LOL!
btw, did you notice, she actually gets up and LEAVES!?!? LMAO!

Subject: Re: Downgrade

Written By: Foo Bar on 08/10/11 at 9:05 pm


And Williams just sits there like he's had too much Xanax and it's time for another~LOL!
btw, did you notice, she actually gets up and LEAVES!?!? LMAO!


By the time Ratigan was done with that rant - and especially with the staffers scurrying out of camera range, I half-expected it to end with a couple of armed goons and a cut to a test pattern, which is what usually happens to people who speak the truth in sci-fi/dystopian movies.

Subject: Re: Downgrade

Written By: Tia on 08/10/11 at 10:54 pm


By the time Ratigan was done with that rant - and especially with the staffers scurrying out of camera range, I half-expected it to end with a couple of armed goons and a cut to a test pattern, which is what usually happens to people who speak the truth in sci-fi/dystopian movies.
lol, yeah, the talk show i like, the young turks, their host said a couple weeks ago in a fit of honesty that he can't believe ratigan's still on the air. and he himself had gotten sheeshcanned from msnbc like three days before that.

apparently, the cable networks weren't clear. they need DRONES. MINDLESS ESTABLISHMENT DRONES.

Subject: Re: Downgrade

Written By: MaxwellSmart on 08/10/11 at 11:09 pm


lol, yeah, the talk show i like, the young turks, their host said a couple weeks ago in a fit of honesty that he can't believe ratigan's still on the air. and he himself had gotten sheeshcanned from msnbc like three days before that.

apparently, the cable networks weren't clear. they need DRONES. MINDLESS ESTABLISHMENT DRONES.


Keith and Cenk got canned.

Rachel, Larry, and Al are still there...they must be doing some serious brown-noising!
::)

Subject: Re: Downgrade

Written By: 80s_cheerleader on 08/11/11 at 9:23 am


Keith and Cenk got canned.

Rachel, Larry, and Al are still there...they must be doing someone
::)
There...fixed that for ya ;)

Subject: Re: Downgrade

Written By: Foo Bar on 08/13/11 at 1:05 am

Now that the dust has settled on the downgrade, my favorite webcomic of all time, Stephen Notley's Bob the Angry Flower, had this to say:

http://img684.imageshack.us/img684/1574/downgr.gif

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