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Author Topic: Financial note about that S&P downgrade  (Read 226 times)

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Offline Conan The Librarian

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Financial note about that S&P downgrade
« on: August 06, 2011, 04:14:13 AM »
I've worked in finance. It's all judgment.

The articles about the S&P downgrade of the US got criticized by the treasury because of an alleged 2 trillion dollar math error. The treasury spokesman said that a judgment based on a two trillion dollar error "speaks for itself".

It does speak for itself. Financial decisions are routinely made with errors because so many scenarios are considered. The final judgment is made based on whether the error makes a material difference. What the two trillion dollar error means is that even without the error, it was still appropriate to downgrade US.

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Offline billy_56081

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Re: Financial note about that S&P downgrade
« Reply #1 on: August 06, 2011, 04:45:34 AM »
I am glad I took my money out of the markets awhile back. Paying off debt by taking out more debt STUPID.
 
Well lets see how the markets react monday morning? Any predictions on how much the DOW drops? I am looking forward to higher interest rates as the ones for savers now are terrible.
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99% of all Lawyers give the other 1% a bad name. What I find hilarious about this is they are such an arrogant bunch, that they all think they are in the 1%.

Offline magooch

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Re: Financial note about that S&P downgrade
« Reply #2 on: August 06, 2011, 05:16:14 AM »
This is just another proud accomplishment of Obama and company (dumycrats)--another bump on the road to ruin.
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Swingem

Offline Conan The Librarian

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Re: Financial note about that S&P downgrade
« Reply #3 on: August 06, 2011, 06:02:15 AM »
It shouldn't make  that much of a difference in the interest the US pays because there's little difference between AA+ and AAA. However, it does give credit card companies and other lenders an excuse to jack up interest rates on their customers.

By the way, it seems that S&P is run by a bunch of tea party extremist terrorists. Hasn't the tea party caucus been saying pretty much the same thing all along?
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Offline briarpatch

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Re: Financial note about that S&P downgrade
« Reply #4 on: August 06, 2011, 09:46:27 AM »
Well there are 300,000,000 world class sheep milling around on this island of America. 30% cant spell "stocks" 69.9% dont care and the .1% that understands the siutation is made insignificant by the news media.
All of this is brought about by the 99.9% watching the news media and supporting with $$, the very ones shoving it up their A&&.
We have already proven we are the dumbest landlocked group of people ever to exist. (Think of our leader)
What does all this mean for Monday morning and the stock market? Buy all you can it will take off like a mud fish with a jet engine strapped to its butt.
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