all these years I've worked and just saved money here and there. it's not a lot, but i've never once gambled on corporations success or failure to be my future bread and butter. maybe i'm crazy.

Sung to the tune of "circle of life"

It's the circle of stupid!

/come on people keep it going

Advice taken

Waits for the "oh noes" gif...anyone?

I might be wrong but the 10 yr is considered a short term investment whereas the S&P downgraded our long term debt and reaffirmed the short term rating. Doesn't mean we are in any better shape but there is a reason why what is cited in the article is occuring.

I'm going to wall street. I'm going to start paying for stocks in ass pennies.

S&P can go fark itself

This just in - the US has its own printing press. The debts will get paid. May as well at least earn interest while the Fed et. al. devalue your cash.

Also in the news: major signs of a coming recession prior to this downgrade were already pushing the markets out of risk.

Conclusion - these sorts of analyses are as solid as saying "Well, the Nationals are 54-59 and won last night.. so it looks like a good time to buy some Ford."

Fark S&P and fark Wall Street.

I'm investing in pot and meth. Prices always seem to be stable.

GIS for ass pennies:

Nice job Obama!

meatofmystery: all these years I've worked and just saved money here and there. it's not a lot, but i've never once gambled on corporations success or failure to be my future bread and butter. maybe i'm crazy.

you might not realize it but if you just have those savings in "cash" you are gambling that the U.S. gov't isn't going to erode your assets value through inflation. Hard assets are the thing to own when things get scary(and I'm not just talking gold).

The worst thing I saw was Ben Stein recommending people go out and buy annuities.

I almost threw a glass through the TV.

It's bad enough he sold out and turned into the previous generation's Dennis Miller. But to shill for insurance companies selling annuities. Fark. Asshole. Dipshiat. Anyone. Anyone.

Oh awesome, i have to be a subscriber to read the full article.

I think we all see who holds the real power in this world. Not the US, but the ratings agencies...

Them's real commie'dities gonna' be guns n' ammunittin'.

Spam, too.

I thought the US would inflate its way out of its debt mess. A decade of 70s-era inflation, coupled with the end of the wars in the Mid East and a sunset on the Bush tax cuts, would slay the debt dragon by 2020. For all levels of government and for the private populace who are in over their heads in debt.

But if interest rates are forced to rise, causing another credit freeze, all bets are off. Just when we seemed to be out of the woods on the Great Recession, a hike in interest rates would throttle the recovery.

Thanks Tea Party Republicans. Thanks a lot.

TheShavingofOccam123: The worst thing I saw was Ben Stein recommending people go out and buy annuities.

I almost threw a glass through the TV.

I'd prefer you threw the glass through HIS tv, he's the annuity buying dumbass.

That's because most investors are morons. As a professional currency trader, my advice is to diversify across Chinese Yen, Brazilian Pesos and Swiss Crowns.

Tylercn: meatofmystery: all these years I've worked and just saved money here and there. it's not a lot, but i've never once gambled on corporations success or failure to be my future bread and butter. maybe i'm crazy.

you might not realize it but if you just have those savings in "cash" you are gambling that the U.S. gov't isn't going to erode your assets value through inflation. Hard assets are the thing to own when things get scary(and I'm not just talking gold).

ah, so we're screwed no matter what?

that's good monday news.

It may not be easy but I'm sure the USA will pull through this mess. Apparently I am not alone.

I think part of it is because Moody's and Fitch still have us as AAA, so from an institutional point of view we are still AAA (two out of three ain't bad). If one of them dinged us and all the funds and institutions that have to be AAA started dumping US bonds, there'd be be an absolute meltdown.

meatofmystery: all these years I've worked and just saved money here and there. it's not a lot, but i've never once gambled on corporations success or failure to be my future bread and butter. maybe i'm crazy.

You are crazy. In the long run, the market is either profitable or we are all screwed. Not investing your savings (what you can afford beyond monthly needs and an emergency fund) is quite foolish.

meatofmystery: all these years I've worked and just saved money here and there. it's not a lot, but i've never once gambled on corporations success or failure to be my future bread and butter. maybe i'm crazy.

Back in December I put $500 in one of those "green" mutual funds that focuses on clean energy, efficiency improvements, etc. with the logic that I needed to do something with my money (0.25% savings account returns are negligible), I could afford to lose $500, it would be a bit more fun than a CD and hopefully wouldn't support morally questionable companies. It's actually been pretty educational.

HaywoodJablonski: That's because most investors are morons. As a professional currency trader, my advice is to diversify across Chinese Yen, Brazilian Pesos and Swiss Crowns.

You forgot to back them all up with Ameros, the new currency...

Smeggy Smurf: FarkedOver: I'm going to wall street. I'm going to start paying for stocks in ass pennies.

I was going to move some money around. Then I heard the Obamessiah is going to speak. So much for that idea. Every time a politician runs his mouth the market falls even more.

/investing in pitchforks and torches
//and rubble removal for the inevitable civil chaos

My advice to you is to take every penny you come across for an entire year and stick up your ass. After that year go to a popular restaurante of stocktraders and pay for the entire meal in ass pennies. When those jack offs get change they'll get your ass pennies. Then you'll have the upper hand. Or wear a power tie, either or is fine.

Did anyone else get a chuckle out of China scolding us over the weekend? If we are a sinking ship they are tied to the deck.

Tylercn: Did anyone else get a chuckle out of China scolding us over the weekend? If we are a sinking ship they are tied to the deck.

If we go down, whose ideas will they steal? They killed all their own people who could think for themselves.

Between this and the 2008 mortgage ratings fiasco, S&P needs to die. They're either too incompetent or too politicized to do their jobs correctly.

meatofmystery: all these years I've worked and just saved money here and there. it's not a lot, but i've never once gambled on corporations success or failure to be my future bread and butter. maybe i'm crazy.


I've invested in my 401K and IRA since the mid 90's and have turned a little money into a lot of money. To each his own.

In other words, as any sane person could've predicted, the markets reacted by saying, "Uh, yeah, let's trust the guys who over-counted the debt by $2tn and thought Lehman Bros was awesome right up to the day it collapsed. How about no?"

Tylercn: Did anyone else get a chuckle out of China scolding us over the weekend? If we are a sinking ship they are tied to the deck.

China's just pounding its chest for domestic politics. When their housing bubble finally pops -- a bubble that makes Vegas circa 2006 look like Fargo -- it's going to be quite a show over there.

gearsprocket: S&P can go fark itself

Jake Havechek: Fark S&P and fark Wall Street.

Why? Can you blame them after the farking debt ceiling fiasco?

Up until now it was assumed that come hell or high water, the US Govt would pay its debts, because it can always just print more dollars if necessary. Default would only be a willful choice, and since it would monumentally screw us for generations. To default or risk default would be inflicting intentional harm on yourself, which only an absolute retard would do.

After watching the tea party induced elective crisis, why wouldn't objective analysts question their previous views that our politicians wouldn't do something monumentally stupid for political reasons? If the Tea Party can get 60 members in congress, and exert so much influence on the remainder of the GOP, who's to say that they won't get more influence or more members in the future and actually cause a default?

The manufactured debt ceiling crisis changed the ballgame, and the previously unthinkable is now thinkable, thanks to the Tea Party. Blaming S&P is like shooting the messenger or unplugging the scoreboard.

If partisanship and posturing were put aside, and 'brinksmanship' according to the S&P was removed this is what I'd propose.

Step 1: Raise taxes on the richest .1% to 70%
Step 2: Raise taxes on the richest .1->1% to 63.5%
Step 3: Raise taxes on the richest 1%->5% to 50%
Step 4: Use increased revenue for government-backed public works projects, education subsidies, and most of all use increased revenue to back a portion of entitlements.
Step 5: Reform said entitlements
Step 6: Decrease military spending and conditional military spending
Step 7: Reduce influx of borrowed capital, replace with increased revenue.
Step 8: Reduce payroll tax on businesses that have less than 5,000 employees by 5%
Step 9: Reduce payroll tax on businesses that have less than 25,000 employees by 2.8%


Much like when former President Bill Clinton addressed the insanely rich 'If you allow me to raise taxes on you significantly, it will be better off for you economically in the long run.' Unfortunately, he was laughed at.

You're the jerk... jerk: meatofmystery: all these years I've worked and just saved money here and there. it's not a lot, but i've never once gambled on corporations success or failure to be my future bread and butter. maybe i'm crazy.

You are crazy. In the long run, the market is either profitable or we are all screwed. Not investing your savings (what you can afford beyond monthly needs and an emergency fund) is quite foolish.

really? Cuz I watched my mum lose almost all of her 401K just before her retirement. If that's not enough to scare me out of playing the market game, then what is? No offense, I'd rather sit this game out and not gamble what money I do have.

As someone stated earlier...either the market crashes, or the dollar tanks...either way, you're screwed. Gotta love economics.

Corvus: meatofmystery: all these years I've worked and just saved money here and there. it's not a lot, but i've never once gambled on corporations success or failure to be my future bread and butter. maybe i'm crazy.

Well the money you saved has probably at best kept up with inflation more likely decreased in value. Most everyone else who has "gambled" as you say has probably made about 6-8% on average per year. So you figure it out..

Good for those who do. I don't scoff at it. It's just a personal choice.

Tylercn: Did anyone else get a chuckle out of China scolding us over the weekend? If we are a sinking ship they are tied to the deck.

...adding: China would be doing us a huge favor if they started dumping our debt. I say: Go for it, fellas. When your export sector gets turned into oatmeal, we'll all have a good laugh.

Tylercn: Did anyone else get a chuckle out of China scolding us over the weekend? If we are a sinking ship they are tied to the deck.

Yeah. Let your farking currency float and we wouldn't be borrowing so much you douchebags, because we wouldn't be buying so much of your shiat.

Tylercn: I might be wrong but the 10 yr is considered a short term investment whereas the S&P downgraded our long term debt and reaffirmed the short term rating. Doesn't mean we are in any better shape but there is a reason why what is cited in the article is occuring.

You're wrong here. 10 years is long term. Short term is under one year.

Doesn't this qualify for the "Ironic" tag?

Debeo Summa Credo: After watching the tea party induced elective crisis, why wouldn't objective analysts question their previous views that our politicians wouldn't do something monumentally stupid for political reasons? If the Tea Party can get 60 members in congress, and exert so much influence on the remainder of the GOP, who's to say that they won't get more influence or more members in the future and actually cause a default?

This "blame it on the tea party" line is nonsensical. At the end of the day, it was all a game of chicken. In the end, remember which party voted for the deal, and which voted against it. What do you say to every Democrat in Congress who voted against the deal (i.e. for default)? Why is it only "shooting the hostage" when Republicans do it?

meatofmystery: You're the jerk... jerk: meatofmystery: all these years I've worked and just saved money here and there. it's not a lot, but i've never once gambled on corporations success or failure to be my future bread and butter. maybe i'm crazy.

You are crazy. In the long run, the market is either profitable or we are all screwed. Not investing your savings (what you can afford beyond monthly needs and an emergency fund) is quite foolish.

really? Cuz I watched my mum lose almost all of her 401K just before her retirement. If that's not enough to scare me out of playing the market game, then what is? No offense, I'd rather sit this game out and not gamble what money I do have.

As someone stated earlier...either the market crashes, or the dollar tanks...either way, you're screwed. Gotta love economics.

While people should move to less risky investments as they get closer to retirement, even if your mom invested at the peak of 2007, she should currently be at about where she invested. If she invested any time before that she is almost certainly up overall. Unless she panicked and sold it all at the bottom.

Algebrat: HaywoodJablonski: That's because most investors are morons. As a professional currency trader, my advice is to diversify across Chinese Yen, Brazilian Pesos and Swiss Crowns.

Nice. I almost bit for a second. 8/10.

Thanks. Did I do one too many currencies? Should I have listed one correctly?

I wonder if this will create something similar to a Y2K problem when they run out of bits in which to store the balances of U.S. bank accounts.