horribleblob Posted August 6, 2011 Share Posted August 6, 2011 ...Moody's and S&P are two of the most highly regarded, based on years of experience. Their past record is evidence they know what they're doing... Although, didn't they give their seal of approval to the shenanigans that created the sub-prime crisis? Link to comment Share on other sites More sharing options...
Uptowngirl Posted August 6, 2011 Share Posted August 6, 2011 Although, didn't they give their seal of approval to the shenanigans that created the sub-prime crisis? No.I don't believe they did. Link to comment Share on other sites More sharing options...
Stan Tamudo Posted August 6, 2011 Share Posted August 6, 2011 Moody's and S&P are two of the most highly regarded, based on years of experience. How ironic; Moody's, Standard and Poor. Link to comment Share on other sites More sharing options...
poppins Posted August 6, 2011 Share Posted August 6, 2011 It can't be that serious. If it was, our 'leaders' - you know, the ones who got us into this mess - wouldn't all be on holiday and would be straight back behind their desks to sort it out. The system is buggered. We've been fed the myth of 'free market economics' when it's all been a cosy cartel run by, and for the benefit of, a few. We've had absolutely no say in this, but it's our pensions and savings that will suffer. Might as well just hand over your ATM card, there going to get to it anyhow. No need to give them your PIN number either, I'm sure they already have those on file Link to comment Share on other sites More sharing options...
boyfriday Posted August 6, 2011 Share Posted August 6, 2011 Might as well just hand over your ATM card, there going to get to it anyhow. No need to give them your PIN number either, I'm sure they already have those on file popps, you better think about coming home..I've got a spare room you can have KK Link to comment Share on other sites More sharing options...
I1L2T3 Posted August 6, 2011 Share Posted August 6, 2011 The ones that don't know what they're talking about, don't get publicity and everyone ignores their ratings. Moody's and S&P are two of the most highly regarded, based on years of experience. Their past record is evidence they know what they're doing. Of course, a glittering past record doesn't mean they are incapable of error; and Moody's still have the USA rated as triple A, although they have attached a "negative outlook" to that rating. Haha, you haven't got a clue have you? Highly regarded Know what they're doing Glittering past Where have you got this nonsense from? Link to comment Share on other sites More sharing options...
JFKvsNixon Posted August 6, 2011 Share Posted August 6, 2011 China is now chastising the US for spending too much money on defence, they also think that another downgrade is inevitable. Interestingly they also call for the printing of US dollars to be supervised internationally and repeated China's contention that a new global reserve currency might be needed. http://www.bbc.co.uk/news/world-us-canada-14430598 Link to comment Share on other sites More sharing options...
HeadingNorth Posted August 6, 2011 Share Posted August 6, 2011 Haha, you haven't got a clue have you? You mean, the US Government and the SEC haven't got a clue. They're the ones who consider S&P to be among the most highly-regarded credit ratings agencies. Personally, I don't even know how a credit agency works. Link to comment Share on other sites More sharing options...
NorthernStar Posted August 6, 2011 Author Share Posted August 6, 2011 China is now chastising the US for spending too much money on defence, they also think that another downgrade is inevitable. Interestingly they also call for the printing of US dollars to be supervised internationally and repeated China's contention that a new global reserve currency might be needed. Another bitter pill for the USA to swallow, the implied power shift is becoming more palpable by the day. Though you can't blame the Chinese for being concerned given that they are invested over $1 trillion into the states. Link to comment Share on other sites More sharing options...
JFKvsNixon Posted August 6, 2011 Share Posted August 6, 2011 Another bitter pill for the USA to swallow, the implied power shift is becoming more palpable by the day. Though you can't blame the Chinese for being concerned given that they are invested over $1 trillion into the states. I think that China's issue is twofold. Firstly they need the US to purchase the goods that they produce so they need the US population confident enough to spend their hard earned dollars. I believe this is the reason they've been cradling the US economy with their investment. Secondly I think that China will use this to weaken the US militarily, making it easier for their to achieve it's ambition to become a major player on the world stage. Link to comment Share on other sites More sharing options...
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