Just Downgrade Us Again Now
The Market Ticker ® - Commentary on The Capital Markets
Posted 2011-08-09 19:40
by Karl Denninger
in Editorial
Ignore this thread
Just Downgrade Us Again Now
 

FLASH: REID SAID TO APPOINT MURRAY, BAUCUS, KERRY TO DEFICIT PANEL

To S&P: Just issue the second downgrade now, this time with a one-line statement:

We really meant it the last time you jackasses.

Discussion below (registration required to post)
 

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User Info Just Downgrade Us Again Now in forum [Market-Ticker]
Cbxer55
Posts: 70
Incept: 2009-07-01

Midwest City, OK
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Yeah, with those three, things oughta head in the right direction yesterday! ;-(
Can't wait to see who else is recommended.
Hotdrop
Posts: 523
Incept: 2007-09-14
Green
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This is really all you need to know http://www.ritholtz.com/blog/2011/08/how.... There was never any chance for success
Inline

Striker754
Posts: 671
Incept: 2009-07-09

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@hotdrop...wow they really set that up to bypass Congress. If Congress votes no, Obama can override LOL
Azcaliente
Posts: 45
Incept: 2009-03-03

Arizona
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Three of the least economically qualified people. Gee what a surprise....NOT.
Smartmoney
Posts: 226
Incept: 2009-07-18


Banned
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If Ron Paul is not on the panel it will send a clear message....THE PANEL is all talk and full of compromise (another word all bought and paid for by lobbiest) Let see who is appointed.
Jduwaldt
Posts: 499
Incept: 2010-06-10

Orange County, CA
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http://online.wsj.com/article/SB10001424....

Nuts. The other two are bad enough but I thought Patty Murray had quit a couple of years ago. Oh well.

So, what's the over/under (if that's the right term) on when we start having to issue treasuries payable in other currencies?

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It's not an issue of "cooperation" vs "go it alone": it's a question of involuntary vs voluntary relationships.
Mari
Posts: 1012
Incept: 2010-03-05
Green
Central MD
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Thanks for that link, Hotdrop. Exactly why has no one on any show that I watch or listen to on talk radio talked about that? We are so doomed.

And yet, the talking heads will start pontificating about why employers are not hiring, consumers are not spending, and why the economy is so weak. Here's the simple answer: Because our government is screwing us AGAIN and we don't expect anything positive to come out of the freakin' super duper screw the serfs again sack of **** CONgress. That would be the FSDSSASC for short; they like acronyms in D.C.

Murray, Baucus, and Kerry - the new 3 Stooges (apologies to the stooges for that insult).

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I bleed purple and orange!
Steph4liberty
Posts: 1685
Incept: 2010-10-22
Gold
Raleigh, NC
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Ron Paul can't be on the panel since he voted "no" to the bill itself...

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"Man will never be free until the last Banker is strangled with the entrails of the last Politician" - unknown

"This isn't a market anymore, it's a computer game." - Drench
Geschrei
Posts: 473
Incept: 2009-02-23
Gold
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Steph4liberty wrote..
Ron Paul can't be on the panel since he voted "no" to the bill itself...


I'm afraid you're right. I'll be VERY surprised if there's a single "NO" vote on the panel from either side.

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“The danger is not that a particular class is unfit to govern. Every class is unfit to govern.”

Lord Acton (1834 - 1902)
Inkt2002
Posts: 99
Incept: 2009-07-15

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I can't take it anymore. This stuff is really bad for my health.
Frat
Posts: 1935
Incept: 2009-07-15
Silver
NKY
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You know what? GOOD! At least they aren't even trying to pretend any more. They truly DO want everything to crash and burn.... they can't REALLY be that stupid, right? RIGHT?!

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We're ****ed. Where's Henry Bowman when you need him?
Chekmypulse
Posts: 226
Incept: 2008-03-28
Green
B-F-E
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Yep Frat... the FSDSSASC (hattip Mari) will be a smaller, more super-duper cluster **** version of the full monty. Drop the bomb S&P...


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I love USA. Land of Free.

Ooops I am not a bank. ****. - Mliu
Stoogeflog
Posts: 49
Incept: 2010-01-26

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I keep looking for a glimmer of hope. I feel like I am slowly going higher and higher on the roller coaster before going straight down.

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when you see that money is flowing to those who deal not in goods, but in favors; when you see that men get rich more easily by graft than by work, and your laws no longer protect you against them, but protect them against you. . . you may know that your society is doomed.” Ayn Rand
Jeffrey_thomason
Posts: 7083
Incept: 2009-03-11
Green
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You said it:


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"Until we look beyond the throne where the power structure lies, we'll fight amongst ourselves as freedom dies. The only hope for human kind lies in solidarity. The strength in our numbers sets us free."
Pika-steph
Posts: 54732
Incept: 2007-09-11
Gold A True American Patriot!
Live Free Or Die; US Army Est. 1775
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Stop the Looting; Start Prosecuting - http://www.FedUpUSA.org/
inline
"The only regulation that really works is failure."--Rick Santelli
Docj
Posts: 1000
Incept: 2009-09-10
Silver
Duck & Cover
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John F'n Kerry and Patty "stupidest sentient being ever to hold high office" Murray - yeah, what could possibly go wrong?

Couple this with the almost certain rewarding of public employee unions in Wisconsin this evening when they purchase (rent, actually) the 3 state senate seats they need to regain control of the legislature there and all I can say is - fantastic, burn it all down, and the sooner the better.

We've purchased this collapse at great price. We deserve it. Good and hard.

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The preservation of liberty depends upon the intellectual and moral character of the people. As long as knowledge and virtue are diffused generally among the body of a nation it is impossible they should be enslaved. - John Adams
Themortgagedude
Posts: 8853
Incept: 2007-12-17
Green
saint louis
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Should have set it up with the dems picking one of the reps and vice versa for each house. And the tea party should absolutely demand one representative from the house and senate each.

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I'm already visualizing you with duct tape over your mouth.
Loves2learn
Posts: 1210
Incept: 2009-01-28
Silver
The free (for now) state of Kansas
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Pika, guess I'm old school. Drop the Bomb On Me is one of my fav's. Sorry if I make you feel old.

Ok, taking the kids to the lake tomorrow until Sunday. Maybe the last vacation we get.

Just hold it together till then, mmkay?

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A poor person's farm may produce much food,
but injustice sweeps it away. Proverbs 13:23
The illegal we do immediately. The unconstitutional takes a little longer.
Henry Kissinger, New York Times, Oct. 28, 1973
Standby
Posts: 1005
Incept: 2009-08-06

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I'm in California and in my county the government has always been the biggest employer (and that was in the best of times too). On my street live almost entirely government workers either active or retired. I don't know a single one who has been laid off. No more than a couple furlough days so it hasn't changed whatsover since the last crash. Always driving new cars and looking forward to big, big retirements. California's nothing but a big noose around the neck getting tighter and tighter. We passed a couple balance budget amendments in previous years to no avail. Brown continues to try and leverage out the credit unions, one of the only havens left. Cutbacks are always sometime next year. They plan to take everything with them when they go I'm telling ya.
Degaston
Posts: 2264
Incept: 2007-07-27
Green
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@Hotdrop, thanks for sharing the flowchart. Now it's pretty clear to me why the USA credit rating was downgraded. This "deficit reduction plan" is a crock, period. I'd be terribly embarrassed to have my name attached to it if I was a member of Congress. Wow, Wow, Wow, Wow, Wow !!!!

http://market-ticker.org/akcs-www?getima....

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3/17/2013: Bullish on nothing - 100 percent in cash.
Eli
Posts: 7212
Incept: 2007-09-10
Silver
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All the children are insane.


Get ready for the blast

inline

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If you want a vision of the future, imagine a boot stamping on a human face - forever.
George Orwell

Icanhasbailout
Posts: 9939
Incept: 2009-03-10
Green A True American Patriot!
Imaginationland
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Lemme guess... the GOP contingent will be Hatch, McCain, and Lugar.

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Themortgagedude
Posts: 8853
Incept: 2007-12-17
Green
saint louis
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ICANN. Bet you got at least 2 out of 3.

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I'm already visualizing you with duct tape over your mouth.
Happymob
Posts: 1847
Incept: 2007-08-03
Green
West Virginia
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So the Gang of 6 spend months trying to create a reasonable plan, yet none of them are on the Dem team for the super-committee? Seems odd. Maybe they all said "no". I sure hope so.

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Anything from Missouri has a taint about it.
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