OP
Good fucking luck with that. Expect another crash like it happened in the US in 80s
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Global Financial Crisis (13 Viewers)
- Thread starter Dostoevsky
- Start date
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Irish Government 'moodys is an inaccurate reflection of the on the ground realities, Ireland will return to the bond markets by 2013'
OP
Ok, D-Day is getting close.
August 2nd will be the day for the US. Italy, Spain, Ireland and Portugal are going down.
Man, this is gonna be some painful shit.
US with 14,3 billion dollars debt. Obama said he can't guarantee pensions to people for the next month, like other social givings. Unless they bring a new law for BIGGER debts then the US will have to decide whether to fund pensions or to pay money back (not all of the debt) to China. And you know what, unless they bring the new law in, which they will not I think, they will pick China and their debt to return. Stock market seems bad, too.
Good luck folks.
EDIT: It's actually China holding the US securities, so it's a must-return for Americans.
August 2nd will be the day for the US. Italy, Spain, Ireland and Portugal are going down.
Man, this is gonna be some painful shit.
US with 14,3 billion dollars debt. Obama said he can't guarantee pensions to people for the next month, like other social givings. Unless they bring a new law for BIGGER debts then the US will have to decide whether to fund pensions or to pay money back (not all of the debt) to China. And you know what, unless they bring the new law in, which they will not I think, they will pick China and their debt to return. Stock market seems bad, too.
Good luck folks.
EDIT: It's actually China holding the US securities, so it's a must-return for Americans.
Obummer is a fear-mongering, traitorous piece of shit. He's only pulling a Bush and Hank Paulson by saying everyone is going to go broke if we don't raise the debt ceiling. It's such backward-ass fuckery that really is a nice microcosm of how idiotic this country has become and why it's going down. Social security and medicare are not at risk if we don't raise the debt limit in a few weeks because we have enough to cover those checks right now by selling bonds into the market.
The whole, "we'll go broke if we don't go into more debt" is the most idiotic economic notion I've ever heard, and it comes from Keynesian clowns like usual.
The whole, "we'll go broke if we don't go into more debt" is the most idiotic economic notion I've ever heard, and it comes from Keynesian clowns like usual.
QE3 or something similar is on the way.
Bernanke: Fed May Launch New Round of Stimulus
Federal Reserve Chairman Ben Bernanke told Congress Wednesday that a new stimulus program is in the works that will entail additional asset purchases, the clearest indication yet that the central bank is contemplating another round of monetary easing.
http://www.cnbc.com/id/43739458
No amount of spending is going to help us now since it HAS NOT WORKED ALREADY. They know this.
So therefore, they're only purpose is to get their friends rich. Period. At our expense.
Their heads should have bounced down the Capitol steps months ago.
Bernanke: Fed May Launch New Round of Stimulus
Federal Reserve Chairman Ben Bernanke told Congress Wednesday that a new stimulus program is in the works that will entail additional asset purchases, the clearest indication yet that the central bank is contemplating another round of monetary easing.
http://www.cnbc.com/id/43739458
No amount of spending is going to help us now since it HAS NOT WORKED ALREADY. They know this.
So therefore, they're only purpose is to get their friends rich. Period. At our expense.
Their heads should have bounced down the Capitol steps months ago.
Here it is, guys. Sorry, but I told you so. Those who say we can "spend" our way out of this depression are the same folks that are causing the depression. S&P might have finally came to their senses with this report, making it clear that the problem isn't the coupon payments associated with the stupid debt ceiling, but rather we have no clear plan to pay down our debt as a nation. Period. And we won't, ever, because the government is inherently incapable of containing spending.
http://www.reuters.com/article/2011/07/14/market-ratings-creditwatch-us-idUSWNA372820110714
So if Obummer and his clown crew raise the debt ceiling, S&P will downgrade our credit rating. Why? BECAUSE IT'S FUCKING LOGICAL! You can't spend your way out of a DEBT PROBLEM!
And if the downgrade happens, then you start to have a shitstorm in the bond and CDS market.
http://www.reuters.com/article/2011/07/14/market-ratings-creditwatch-us-idUSWNA372820110714
So if Obummer and his clown crew raise the debt ceiling, S&P will downgrade our credit rating. Why? BECAUSE IT'S FUCKING LOGICAL! You can't spend your way out of a DEBT PROBLEM!
And if the downgrade happens, then you start to have a shitstorm in the bond and CDS market.
Stress tests today, confirmation of a systemic debt problem, 8 banks expected to fail, one or more of which may be German.
http://www.independent.ie/national-...maging-confidence-in-ireland-imf-2822412.html
On what fucking planet is a 10% deficit a good thing, Slash and Burn motherfuckers.
If the U.S. and the EU27 fall, that's over 50% of the Global Economy, if they go, everything goes. And if the US has the renegotiate trillions of write-offs with the Chinese, well things are about to get 19th Century up in here.
http://www.independent.ie/national-...maging-confidence-in-ireland-imf-2822412.html
On what fucking planet is a 10% deficit a good thing, Slash and Burn motherfuckers.
If the U.S. and the EU27 fall, that's over 50% of the Global Economy, if they go, everything goes. And if the US has the renegotiate trillions of write-offs with the Chinese, well things are about to get 19th Century up in here.
What has to be done got nothing to do with this in my opinion, since I think those private organizations are in one ship with the government and people running it, and if they don't want they won't downgrade it is as simple as that. Puppets don't hurt puppetiers you know.
Those credit ratings are a joke anyways.
Those credit ratings are a joke anyways.
OP
Yeah, those rating agencies are a bunch of cocksuckers. They rate junk bonds Triple A all the time and ask questions later. What was it, just this week Moody's downgraded Ireland to junk bond status, after all these years? Gee, what would we do without them. Useless financial terrorists.
But still, these rating agencies move the market, and the market is more important than anything else. The market does the talking, not politicians who think they know something about economics. Most likely they don't.
But still, these rating agencies move the market, and the market is more important than anything else. The market does the talking, not politicians who think they know something about economics. Most likely they don't.
The annoying thing is that Ireland would be fine if we hadn't nationalised banking debts :depressed
Irish Banking system recapitalisation needs:
AIB -€13.3bn State Owned
Bank of Ireland - €5.2bn About to be State Owned
EBS - €1.5bn Subsidiary of AIB
Irish Life & Permanent -€4bn State Owned
Anglo Irish Bank- Defunct
Irish Banking system recapitalisation needs:
AIB -€13.3bn State Owned
Bank of Ireland - €5.2bn About to be State Owned
EBS - €1.5bn Subsidiary of AIB
Irish Life & Permanent -€4bn State Owned
Anglo Irish Bank- Defunct
