Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe Community Center
Current Events
S&P Cuts US Credit Rating to AA+
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="klein" data-source="post: 864279" data-attributes="member: 23950"><p>I assume the first thing to go down Sunday night is the US dollar, which in turn will bring up commodity prices - so TOS, you are right !</p><p>And just for your knowledge, since last June (2010) the US dollar already fell 17% in average against other world currencies.</p><p></p><p>The head of S&P was on Wolgang Blitz earlier today.</p><p>The AA+ rating is actually followed by a negative outlook, too. And within 6-24 months they will take another look on how the US manages it's budget, and if they don't come closer to a balanced budget... they will downgrade the credit rating even further.</p><p></p><p>Oh, Blitz asked how long would it take the US to get it's AAA rating back if they manage to get most of their finances in order.</p><p>Answer : Only 5 countries have done that sofar. The quickest time it took was 9 years and the longest was 18 years.</p><p>So, by no means expect to get that perfect credit rating anytime soon, and find a way to cut another 7 more trillion over the next decade , too !</p><p></p><p>Maybe Obama will lose his re-election in 2012, and then we'll see if the GOP can balance the budget on cuts alone - and I'll bet on it, that they can't !</p></blockquote><p></p>
[QUOTE="klein, post: 864279, member: 23950"] I assume the first thing to go down Sunday night is the US dollar, which in turn will bring up commodity prices - so TOS, you are right ! And just for your knowledge, since last June (2010) the US dollar already fell 17% in average against other world currencies. The head of S&P was on Wolgang Blitz earlier today. The AA+ rating is actually followed by a negative outlook, too. And within 6-24 months they will take another look on how the US manages it's budget, and if they don't come closer to a balanced budget... they will downgrade the credit rating even further. Oh, Blitz asked how long would it take the US to get it's AAA rating back if they manage to get most of their finances in order. Answer : Only 5 countries have done that sofar. The quickest time it took was 9 years and the longest was 18 years. So, by no means expect to get that perfect credit rating anytime soon, and find a way to cut another 7 more trillion over the next decade , too ! Maybe Obama will lose his re-election in 2012, and then we'll see if the GOP can balance the budget on cuts alone - and I'll bet on it, that they can't ! [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe Community Center
Current Events
S&P Cuts US Credit Rating to AA+
Top