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  • Should we Embrace a Debt Downgrade? [Edit or Delete]0 comments
    Aug 6, 2011 4:51 PM
    According to a recent Rasmussen report, the Obama/Osama name confusion is still hurting Obama in the polls with 38% polled unable to tell the difference. Furthermore, 77% polled feel less safe under Obama than Bush and 64%  credit Bush, not Obama for Bin Laden's death.
     
    more good news:
    U.S. loses AAA credit rating from S&P
    2 more banks fail, bringing total to 63
    Berkshire Hathaway profit rises 74%
    Gas prices expected to rise in weeks ahead
    Consumer borrowing up by most in 4 years
     
    Should we embrace a debt downgrade? The consensus on the blogs and in the media is that there won't be much market response to a downgrade, but rather a rally due to the dollar falling.  1st off, unless treasury prices tank Monday, this will be the biggest non event in history! I beg you people to wake up....this has been telegraphed for months..and bonds rallied all week into this. If anything, i see HUGE stock upside now.
     
    U.S. pension funds, insurance companies and other large investors are generally not required to hold AAA-rated debt. They have some flexibility and likely wouldn't be forced into action.If the credit of the USA is so terrible, please tell me why Treasuries across the curve saw their yields DROP all week long? It sounds sort of stupid but where else does one put money in any size? Don’t tell me Canada or Australia. Did anyone see the waterfall decline of the Aussie dollar this week?
     
    The USA, the dollar, our economy is still the safest and strongest in the world. Just because our political system is intent on soaking the rich does not mean that we will not pay our bills. (At least they should pay my Social Security and Medicare…..the doc says I need an operation soon. )
     
    The libs want to see a market crash and deflatonary spending contraction...wont happen lol
     
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