A $2 trillion mistake and its, “Well, that’s not really what we were talking about.”
Fuck you! And then fuck you from the other side!
You made a huge error. Fess up, you weasels. It was the rating agencies that were a huge factor in getting the economy into the mess it is in.
While many in the government are incompetent, the rating agencies are mired in incompetence. They are the Jimmy Swagart’s of the financial world.
Concur. S&P is looking even more BS since no other rating agency (Moody’s, Fitch) has downgraded. Instead of Mr. Obama saying “We need to do better” I want to hear him go all Tony Montana on S&P and go after them for their complicity in the economic melt-down: “You wanna play rough? Okay. Say hello to my little friend!”
Bri2k
Gezus, your economy teeters at the edge of an economic abyss jeopardizing not only yourselves but the rest of the world.
You’re politicians are a bunch of whiny little babies who can’t agree on the simplest things let alone agree on sound economic policy.
You fight never ending conflicts around the world with little hope of a long term good outcome in any of them - essentially pouring money and lives down the drain for no good reason.
And then have you have the nerve to complain that some rating agency jumps the gun on your imminent collapse?
Here’s a hint: Get your shit in order and don’t give them the opportunity to make such mistakes.
Well, the claim seems to be that this error was not material to the decision to downgrade, i.e. that if the analysis is re-done you get the same result.
If this is true (and at this point I have no reason to doubt it), then the OP sounds like meaningless finger-pointing.
…What error? I’m not seeing the point of contention with S&P here.
Good thing many other nations think S&P is full of shit - UK, France, Russia, and others are ignoring the downgrading.
The fact that others have a vested interest in pretending the Emperor is still fully dressed is hardly reassuring.
S&P: Sir, I’m afraid we’re going to have to condemn your house.
US: But why? Oh, god. Why!?
S&P: Well, there’s considerable water damage to the foundations, the electrical system is a fire hazard, there’s a termite infestation in the timber infrastructure, a toxic mold is growing all over the walls and twenty-two of your windows are broken.
US: What? Only twenty of my windows are broken. Twenty! Not twenty-two.
US: So, you’re not gonna condemn the house now right? Cause you miscounted by two. Right?
S&P: Umm…
Agreed. Its weird looking in on American politics.
The weatherman gave you frostbite, eh?
Regards,
Shodan
Only a modern day Republican could equate two broken windows to a $2 trillion error.
You can preach gloom, doom and fear but that doesn’t solve anything. You’ve got to have a place to live. The house has to be fixed but the Republicans are intent on tearing it down while taking no responsibility for the fact that they let it deteriorate into the condition that it is in.
Bachman: It’s all Obama’s fault and I can fix it tomorrow (with my secret plan to end the economic crisis, but I’m not going to tell you what it is because in reality I’m an idiot and just running my mouth).
I’m not a Republican but I would equate the two. The key similarity being that both are immaterial. As far as I know, anyway. Is anyone claiming that this two trillion dollar discrepancy should have affected the outcome of the analysis?
How’d they manage that given that they have been the minority party in a large percentage of congresses over the last 50 years? Seems to me that to the extent the US government is having financial problems, both parties are to blame.
Yes; the democrats are at fault for asking for bipartisan support instead of just pushing their way through despite any minority opinion. You’d be surprised what effect a filibuster can have on a bill.
I bow to your succinctness.
Blah, blah, blah, ‘someone else’s fault’, blah, blah, blah, ‘everything would be solved if it wasn’t for them’, blah, blah.
You couldn’t get health care when you had a majority with the President and Congress.
You can’t sort out the debt crisis when you have the Presidency and the Senate. Maybe you should look a little closer to home as to why you can’t get shit done rather than blame others. If I kept going to my boss, crying like a little girl about how others aren’t playing fair, I’d be out on my ass in short order. Boo hoo, learn to rule when you’re in power.
Well why not? But let me ask you this: Can you identify 3 legislative enactments during periods where the Democrats were in control of Congress which illustrate how it is the Republicans – and only the Republicans – who are responsible for the “deterioration”?
You’re going to post in support of some asshole bashing America from Hong Kong?
Commie.
That’s it: we’re breaking out the B-1s and coming for you next.
S & P is seizing an opportunity to remake their image. They were ass deep in the housing crisis . They AAA rated everything the bankers threw their way. It did not matter how bad it was. They lost all credibility as a rating agency. Now they are trying to pretend they have an economic understanding of how to fix a problem they were a big player in.
The OP of this thread sums up exactly why America is in such trouble - instead of saying “Oh fuck, we reallyneed to get our shit together”, it’s “How dare the criticise us!?! AMERICA FUCK YEAH!!!1!!”.
Memo from the rest of the world - if you don’t shape up, you’re fucked. I rather hope you do sort it out, because the rest of the would will suffer along with you, although not as badly.