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Unread 08-06-2011, 12:24 PM   #1
ChroniC588
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Default We are now AA....dropped from Top Status

This means the cost of borrowing may increase. Which could make our financial problems worse.

Higher interest rates = more borrowing = vicious cycle.
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Unread 08-06-2011, 09:37 PM   #2
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when CNN says not to panic, it troubles me...

CNN.com - Breaking News, U.S., World, Weather, Entertainment & Video News

now if Obama comes on national TV and tells you not to panic, then I say it's really bad.
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Unread 08-07-2011, 03:03 PM   #3
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Increase in borrowing cost = higher savings rates! I have been waiting for this to happen. It makes saving worth it now.

The only ones terrified are those living beyond their means...this gives them a triple whammy:

1. inflation - prices go up
2. interest - cost of borrowing go up
3. wages - salaries going down

---
So...to avoid being terrified you must learn budgeting.
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Last edited by ChroniC588; 08-07-2011 at 03:09 PM.
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Unread 08-08-2011, 01:11 PM   #4
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or work for the government until they cut pensions and health care. woot.
maybe i can sell my condo now...
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Unread 08-23-2011, 04:48 PM   #5
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well someone didn't like what S&P did...

S&P Board Fires CEO For Telling The Truth, To Be Replaced With COO Of Citibank | ZeroHedge
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Unread 08-24-2011, 09:56 AM   #6
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i had to repost that link on facebook.
so, i will bet all my money that S&P changes our credit rating back to AAA
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Unread 08-26-2011, 05:48 PM   #7
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That's pretty stupid...
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Unread 08-26-2011, 07:00 PM   #8
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Quote:
Originally Posted by corytomo View Post
i had to repost that link on facebook.
so, i will bet all my money that S&P changes our credit rating back to AAA
If it does go back to AAA then everyone knows the S&P ratings are based on political pressure and not the financials.

Which is already the truth considering the S&P rubber stamped all the toxic mortgages as top investment grade securities.

Those guys get paid big bucks to pass judgment by playing pin the tail on the donkey. Too bad....the taxpayers are the donkey's getting nailed.
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