Downgraded politically abroad, downgraded economically at home

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Gee, I dunno.

Obama is in a very tough spot. Thus far, his efforts have proved to be a dismal failure. That said, at least he tried. Bush never tried much of anything. And while I may disagree with QE, I do see the thought process behind it. And I also see what a disaster it could be if it fails. But all that said, I will give him props for trying something new rather than making the same old mistakes that have tried and failed before.

So maybe, just maybe, in the end this will work out. I, for one, will keep an open mind.
 
BLAZER PROPHET said:
Gee, I dunno.

Obama is in a very tough spot. Thus far, his efforts have proved to be a dismal failure. That said, at least he tried. Bush never tried much of anything. And while I may disagree with QE, I do see the thought process behind it. And I also see what a disaster it could be if it fails. But all that said, I will give him props for trying something new rather than making the same old mistakes that have tried and failed before.

So maybe, just maybe, in the end this will work out. I, for one, will keep an open mind.
Click to expand...

When did this meme that free markets cause economic destruction take hold? We had a speculative bubble pop. The "old" policies demonstrated that the deeper the recession the quicker and more robust the recovery (hence, the "V" shaped recovery). These policies have resulted in an imitation of the 1930s (an "L" shaped recovery).

Second, Bernanke controls the Fed, not Obama. The downgrade comes from the Trillion + annual deficits as far as the eye can see. And that is directly on President Obama. There is not enough tax revenue out there to make up that kind of spending gap.
 
BLAZER PROPHET said:
Gee, I dunno.

Obama is in a very tough spot. Thus far, his efforts have proved to be a dismal failure. That said, at least he tried. Bush never tried much of anything. And while I may disagree with QE, I do see the thought process behind it. And I also see what a disaster it could be if it fails. But all that said, I will give him props for trying something new rather than making the same old mistakes that have tried and failed before.

So maybe, just maybe, in the end this will work out. I, for one, will keep an open mind.
Click to expand...

Really? Bush cut taxes, which led to a very quick recovery from the 2000 Recession he inherited, and also 9/11. Crappy home loans, backed by Bush and the Dems equally, including Obama, did create a bubble that popped, much as Clinton's tech bubble popped in 2000.
 
I'll put it into language that you can understand -- what all Republicans think:

"Bush had absolutely nothing to do with our current economic climate."
 
Fez Hammersticks said:
I'll put it into language that you can understand -- what all Republicans think:

"Bush had absolutely nothing to do with our current economic climate."
Click to expand...

Nice try at evading the answer. Try again. Use actual policies that made it impossible for poor President Obama to succeed.
 
Fez Hammersticks said:
I'll put it into language that you can understand -- what all Republicans think:

"Bush had absolutely nothing to do with our current economic climate."
Click to expand...

I didn't say that. Paul Ryan, among others, tried to say that Fannie/Freddie loans were creating an unsustainable bubble as far back as the late 1990s. Bush ignored them, as did Obama and the Dems.

Hell, even the incompetent McCain was trying to get Bush's attention about this at one point.

Sad fact is, the FED IS NOW BACKING THE SAME LOANS THAT GOT US INTO THIS MESS.
 
Fez Hammersticks said:
It's an asinine question to begin with.
Click to expand...

The answers in this thread that also blame Bush have angered you, and you have no other outlet than completely ignoring the questions, or denying the Dems' role, as well as Bush's, in creating this mess.

2007 is when shit started going bad. A weak President in Bush, and a Dem majority in both sides of Congress. My only regret is that Paul Ryan isn't on the top of the ticket instead of Milquetoast Mitt, who while weak and a flip-flopper, at least seems to understand things and not hide from them, unlike Barry Obama.
 
Last edited:
maxiep said:
Like I said, I hear this garbage all the time. Go ahead, and explain why Bush policies crippled poor l'il President Obama.
Click to expand...

Like I said, quit pretending you don't understand.
 
PapaG said:
I didn't say that. Paul Ryan, among others, tried to say that Fannie/Freddie loans were creating an unsustainable bubble as far back as the late 1990s.
Click to expand...

Apparently neither you nor Ryan know a rip about Fannie Mae and Freddie Mac, nor who actually creates the loans.

Here's a hint: It ain't the government.
 
The credit rating downgrade is 100% due to Republican stonewalling Obama's budget proposals, so it's sort of a little retarded for a conservative to even bring up the subject.

And by a little retarded, I mean it in the "publicly apologizing to your birdhunting partner for him shooting you in the face" way.
 
MARIS is so upset by facts in this thread that he just posted 5 times in a row for some reason.

Plus, he apparently doesn't understand the Fannie/Freddie loan program, which makes him bad at his job.
 
MARIS61 said:
The credit rating downgrade is 100% due to Republican stonewalling Obama's budget proposals, so it's sort of a little retarded for a conservative to even bring up the subject.

And by a little retarded, I mean it in the "publicly apologizing to your birdhunting partner for him shooting you in the face" way.
Click to expand...

Another laugher.

http://www.forexlive.com/blog/2012/09/13/egan-jones-analyst-hints-at-us-rating-downgrade-post-qe3/

WASHINGTON (MNI) – The latest round of quantitative easing announced Thursday by the Federal Reserve will almost certainly trigger a rating downgrade by Egan-Jones.

Already the rating agency had warned on Wednesday when it affirmed the U.S. rating at AA that “QE3 will likely trigger a negative action.”

Given that the outlook is already negative (AA-), a downgrade to AA- would be a logical next step for the rating agency.

“We are not receiving QE3 positively,” Vice President and co-manager of the ratings’ desk Bill Hassiepen told MNI Thursday, while
the fiscal situation is a “nightmare.”

While the Fed is seeking to support economic growth through its quantitative easing, Hassiepen argued that the central bank’s “massive
monetization” is instead causing “sluggish to stagnant economic growth.”
 
PapaG said:
MARIS is so upset by facts in this thread that he just posted 5 times in a row for some reason.

Plus, he apparently doesn't understand the Fannie/Freddie loan program, which makes him bad at his job.
Click to expand...

Now you're just embarrassing yourself. You could at least google things before you post if you have no idea what they are.
 
Denny Crane said:
Another laugher.

http://www.forexlive.com/blog/2012/09/13/egan-jones-analyst-hints-at-us-rating-downgrade-post-qe3/

WASHINGTON (MNI) – The latest round of quantitative easing announced Thursday by the Federal Reserve will almost certainly trigger a rating downgrade by Egan-Jones.

Already the rating agency had warned on Wednesday when it affirmed the U.S. rating at AA that “QE3 will likely trigger a negative action.”

Given that the outlook is already negative (AA-), a downgrade to AA- would be a logical next step for the rating agency.

“We are not receiving QE3 positively,” Vice President and co-manager of the ratings’ desk Bill Hassiepen told MNI Thursday, while
the fiscal situation is a “nightmare.”

While the Fed is seeking to support economic growth through its quantitative easing, Hassiepen argued that the central bank’s “massive
monetization” is instead causing “sluggish to stagnant economic growth.”
Click to expand...

Egan-Jones ratings are investor-supported, meaning it is simply a tool created by and used by the 1% to manipulate the economy to influence elections and political decisions at the highest level of our government.

In layman's terms, Egan-Jones is a cover for treason.

2012 SEC charges
Charges

The SEC warned Egan-Jones in October 2011 of a possible enforcement action.[8] On April 24, 2012, the SEC charged Sean Egan with numerous offenses including: making false and misleading statements in the firm's application to become a Nationally Recognized Rating Agency, violations of conflicts-of-interest and record keeping, and falsely stating that he was unaware if his paid clients were long or short specific securities that Egan-Jones rated. The Securities and Exchange Commission issued charges against the company, and its founder, Sean Egan, for "material misrepresentations and omissions in the company’s July 2008 application to register as a Nationally Recognized Statistical Rating Organization (NRSRO) for issuers of asset-backed securities (ABS) and government securities" as well as "material misrepresentations in other submissions furnished to the SEC and violations of record-keeping and conflict-of-interest provisions governing NRSROs."
 
MARIS61 said:
Egan-Jones ratings are investor-supported, meaning it is simply a tool created by and used by the 1% to manipulate the economy to influence elections and political decisions at the highest level of our government.

In layman's terms, Egan-Jones is a cover for treason.

2012 SEC charges
Charges

The SEC warned Egan-Jones in October 2011 of a possible enforcement action.[8] On April 24, 2012, the SEC charged Sean Egan with numerous offenses including: making false and misleading statements in the firm's application to become a Nationally Recognized Rating Agency, violations of conflicts-of-interest and record keeping, and falsely stating that he was unaware if his paid clients were long or short specific securities that Egan-Jones rated. The Securities and Exchange Commission issued charges against the company, and its founder, Sean Egan, for "material misrepresentations and omissions in the company’s July 2008 application to register as a Nationally Recognized Statistical Rating Organization (NRSRO) for issuers of asset-backed securities (ABS) and government securities" as well as "material misrepresentations in other submissions furnished to the SEC and violations of record-keeping and conflict-of-interest provisions governing NRSROs."
Click to expand...

In layman's terms, the Obama administration is abusing its offices by harassing this company because they might downgrade the nation because of Obama's policies.

Like Nixon.
 
Denny Crane said:
In layman's terms, the Obama administration is abusing its offices by harassing this company because they might downgrade the nation because of Obama's policies.

Like Nixon.
Click to expand...

It is ironic, isn't it? Until George W. Bush, the Democrat bogeyman was Nixon. Now, Obama has become Tricky Dick incarnate.
 
Obama clearly has an enemies list.
 
I think Obama's definitely in the running for another Nobel Peace Prize. The longer this disastrous overseas anti-american uprising goes on, the more popular he'll be for bringing us down.
 
maxiep said:
For those of us who remember Nixon, the parallels are scary, aren't they? (Mind you, I was six when he resigned).
Click to expand...

Nixon bombed Cambodia because the North Vietnamese guerrillas would do a sneak attack on our troops and then cross the border to escape (we wouldn't follow). He and Kissinger were somehow branded war criminals for that. Similarly, Obama's been bombing Pakistan for the same reasons, but the anti-war left has their nose so far up his ass they don't see it (or something).
 
Denny Crane said:
In layman's terms, the Obama administration is abusing its offices by harassing this company because they might downgrade the nation because of Obama's policies.

Like Nixon.
Click to expand...

That seems like a pretty big stretch, even for this conspiracy-happy board. So Obama had the SEC warn Egan-Jones (and not other rating agencies) in October 2011 because somehow he knew that Egan-Jones would downgrade the US in Sept 2012?

If anything, you can make a better case for the opposite - that the downgrade is retaliation for the warning/charges.

barfo
 
barfo said:
That seems like a pretty big stretch, even for this conspiracy-happy board. So Obama had the SEC warn Egan-Jones (and not other rating agencies) in October 2011 because somehow he knew that Egan-Jones would downgrade the US in Sept 2012?

If anything, you can make a better case for the opposite - that the downgrade is retaliation for the warning/charges.

barfo
Click to expand...

Egan Jones downgraded Obama's credit rating to AA- from AA. It had downgraded his credit rating from AA+ to AA in April. It had downgraded his credit rating from AAA to AA+ on July 16, 2011.

Revenge for July 16.
 
Denny Crane said:
Egan Jones downgraded Obama's credit rating to AA- from AA. It had downgraded his credit rating from AA+ to AA in April. It had downgraded his credit rating from AAA to AA+ on July 16, 2011.

Revenge for July 16.
Click to expand...

But there were others who downgraded the US last summer, right? Please explain why only Egan-Jones was singled out for revenge.

barfo
 
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