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(Twitter)   Friday news dump : oh nothing, the credit rating of the US just took a big kick in the nuts   (twitter.com) divider line
    More: Obvious, shot  
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4475 clicks; posted to Main » and Politics » on 31 Jul 2020 at 9:02 PM (2 days ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



129 Comments     (+0 »)
 
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2 days ago  
Original Tweet:

 
2 days ago  
I'm sure FOX, Limbaugh, The Blaze, WND, and OANN will cover this thoroughly.

I'm also sure that if I open the back door just right, I'll have a unicorn that poops gold in my backyard.
 
2 days ago  
Fark user imageView Full Size
 
2 days ago  
Holy sh*t
 
2 days ago  
That's what happens when you declare bankruptcy.
 
2 days ago  
This is what Economist refer to as...let me check my notes...uh huh...well that's interesting. We can't say that. Let's just call it...The Death Spiral.
 
2 days ago  

BizarreMan: That's what happens when you declare bankruptcy.


We have the perfect leader for it!
 
2 days ago  
You ran up your credit card aggressively during the good times and none of it qas spent od preparing for disaster.

Disaster strikes and your cards are already maxed out.  So what fo you do? Only thing you can do? Open up a bunch of new credit cards.

Of course your FICO gonna take a hit.

And of course it will all be Biden's fault.
 
2 days ago  
It's still "AAA rating."

Besides, ratings don't mean squat. If memory serves, this was the agency who was giving banks AAA ratings on their real estate bonds because if they DIDN'T, the banks would just take their business to another credit agency.

The REAL question is, who's rating the rating agencies.
 
2 days ago  
I'm kinda glad this dropped on a Friday. 

Had this been a Monday the market response might have sent Trump into a terror that would have seen not just Portland but Chicago and Seattle turned into a glass parking lots.
 
2 days ago  
This could be a bad thing.
If we can't sell more bonds to pay off all this money we're printing, how can we give the job creators more tax cuts?
 
2 days ago  
Fark user imageView Full Size
 
2 days ago  

Clarence Brown: I'm sure FOX, Limbaugh, The Blaze, WND, and OANN will cover this thoroughly...if Biden gets elected.


FTFY
 
2 days ago  
This should cause the markets to pop at least 5% on Monday.
 
2 days ago  
The US is quickly becoming the Florida of the world. :/
 
2 days ago  
More tax cuts will solve this!
 
2 days ago  
Fark user imageView Full Size
 
2 days ago  
Fark user imageView Full Size
 
2 days ago  
Oh, there's lots of people responsible for this, just not the ones who write the budgets and spend the money:
* the Chinese, who hold a mountain of U.S. debt
* George Soros -- who's responsible for everything, even Francisco Lindor's error the other day
* Joe Biden, of course, because the day he takes over the deficit will be ALL his
* Apple for producing cellphones in Chiner
* Obama because his was the most-corrupt administration in history
* Crooked HIllary because she's Crooked
 
2 days ago  
America is now officially a sh*thole country.

Thanks, Ref*cklicans!
 
2 days ago  
Thanks, China.
 
2 days ago  
Fark user imageView Full Size
 
2 days ago  

Omnivorous: Oh, there's lots of people responsible for this, just not the ones who write the budgets and spend the money:
* the Chinese, who hold a mountain of U.S. debt
* George Soros -- who's responsible for everything, even Francisco Lindor's error the other day
* Joe Biden, of course, because the day he takes over the deficit will be ALL his
* Apple for producing cellphones in Chiner
* Obama because his was the most-corrupt administration in history
* Crooked HIllary because she's Crooked


Poe's law is a biatch.  I don't know what to make of this post.
 
2 days ago  

Kangaroo_Ralph: Thanks, China.


China and Trump really f$cked over the US.  Shame on you Donald Trump.  Most countries were able to stop this onslaught by China.
 
2 days ago  

mrshowrules: Kangaroo_Ralph: Thanks, China.

China and Trump really f$cked over the US.  Shame on you Donald Trump.  Most countries were able to stop this onslaught by China.


Examples? And what did they do?
I'm curious.
 
2 days ago  
Fark user imageView Full Size
 
2 days ago  
#WINNING
 
2 days ago  

don't understand: America is now officially a sh*thole country.

Thanks, Ref*cklicans!


Want to know how I know you're never traveled outside of the U.S.?  Or your mom's basement?
 
2 days ago  
That's why Bitcoin is rising. And here I thought it was just the failing economy.
 
2 days ago  
cdn.cnn.comView Full Size
 
2 days ago  
Lol we own the world's currency and the largest military.  fark your credit scores.
 
2 days ago  
i.insider.comView Full Size
 
2 days ago  
snopes.comView Full Size
 
2 days ago  
America is a failed state.
 
2 days ago  

wejash: You ran up your credit card aggressively during the good times and none of it qas spent od preparing for disaster.

Disaster strikes and your cards are already maxed out.  So what fo you do? Only thing you can do? Open up a bunch of new credit cards.

Of course your FICO gonna take a hit.

And of course it will all be Biden's fault.


So what's the equivalent of printing money?

/my grandfather, with what little formal education he had, was very financially shrewd. He used to call unbridled money printing "legally stealing from the people" because of inflation, the value of the money that you do have is reduced, thereby stealing a portion of your net worth, no matter how little or large it is
 
2 days ago  
A decade of '70s-era inflation is needed.  It was probably needed before the whole Covid-nukes-the-economy plot twist, but it is definitely needed now.

Will especially suck for the elderly Boomers on fixed incomes, but they had a good run.  Big tax increases for the wealthier citizens and a healthy dose of inflation.
 
2 days ago  

Brokenseas: A decade of '70s-era inflation is needed.  It was probably needed before the whole Covid-nukes-the-economy plot twist, but it is definitely needed now.

Will especially suck for the elderly Boomers on fixed incomes, but they had a good run.  Big tax increases for the wealthier citizens and a healthy dose of inflation.


Hey Nineteen
Youtube cvg5mbM6FGs
 
2 days ago  
This could be a problem if US debt ends up in the same pool as home mortgages.  If that happens, 70s style interest rates will show and there will be even more new money made pushing inflation even more.
 
2 days ago  

KungFuJunkie: BizarreMan: That's what happens when you declare bankruptcy.

We have the perfect leader for it!


Are you saying he has a history of bankrupting stuff?

/and to be fair (yes, even to trump) this isn't a new path. This has been going on for a while. Highlight of which to me was making the amount of printed dollars a state secret
 
2 days ago  

mrshowrules: Omnivorous: Oh, there's lots of people responsible for this, just not the ones who write the budgets and spend the money:
* the Chinese, who hold a mountain of U.S. debt
* George Soros -- who's responsible for everything, even Francisco Lindor's error the other day
* Joe Biden, of course, because the day he takes over the deficit will be ALL his
* Apple for producing cellphones in Chiner
* Obama because his was the most-corrupt administration in history
* Crooked HIllary because she's Crooked

Poe's law is a biatch.  I don't know what to make of this post.


You must be more baked than I am then, because it's obviously not serious.
 
2 days ago  
trump voters,you built this.
 
2 days ago  

scotchcrotch: Lol we own the world's currency and the largest military.  fark your credit scores.


So, what, if oil producers drop using the dollar, and China starts liquidating it's dollar reserves, the military will do what, fight everyone?
 
2 days ago  
History repeats itself.

Fark user imageView Full Size
 
2 days ago  

Resident Muslim: mrshowrules: Kangaroo_Ralph: Thanks, China.

China and Trump really f$cked over the US.  Shame on you Donald Trump.  Most countries were able to stop this onslaught by China.

Examples? And what did they do?
I'm curious.


Netherlands
Ireland
Mexico
Sint Maarten
Panama
Ecuador
Isle of Man
Channel Islands
Armenia
Bolivia
Canada
North Macedonia
Switzerland
Kyrgyzstan
Montserrat
Iran
Colombia
Moldova
Luxembourg
Portugal
Bermuda
French Guiana
Mayotte
South Africa
Honduras
Romania
Iraq
Germany
Dominican Republic
Guatemala
Denmark
Kuwait
Bosnia and Herzegovina
Monaco
Russia
World
Bahrain
Saudi Arabia
Oman
Austria
Argentina
Saint Martin
Montenegro
El Salvador
Sao Tome and Principe
Turkey
Serbia
Qatar
Hungary
Belarus
Finland
Djibouti
Equatorial Guinea
Slovenia
Israel
Bulgaria
Albania
Estonia
Turks and Caicos
Egypt
Norway
Poland
Azerbaijan
Suriname
Kazakhstan
Cabo Verde
Martinique
Ukraine
Czechia
Bahamas
UAE
Croatia
Eswatini
Guadeloupe
Mauritania
Afghanistan
British Virgin Islands
Antigua and Barbuda
Maldives
Costa Rica
Lithuania
Iceland
Algeria
Aruba
Pakistan
India
Liechtenstein
Guyana
Barbados
Gabon
Greece
Malta
Bangladesh
Indonesia
Philippines
Sudan
Nicaragua
Yemen
Latvia
Palestine
Cyprus
Cameroon
Liberia
Cayman Islands
Haiti
Guinea-Bissau
Senegal
CAR
Libya
Morocco
Congo
Uruguay
Lebanon
Japan
Australia
Zambia
Cuba
Sierra Leone
Comoros
Mauritius
Paraguay
Brunei
Ghana
Kenya
Venezuela
S. Korea
Tajikistan
Malawi
Somalia
Mali
Lesotho
Trinidad and Tobago
Curaçao
Singapore
Zimbabwe
Slovakia
Chad
Belize
Nigeria
Uzbekistan
Ivory Coast
Madagascar
Malaysia
Hong Kong
South Sudan
Namibia
New Zealand
Tunisia
Georgia
Réunion
Gambia
China
Guinea
Benin
Niger
Burkina Faso
Jamaica
Nepal
Ethiopia
Angola
Togo
Syria
Western Sahara
Jordan
Fiji
Thailand
Botswana
Sri Lanka
Rwanda
Mozambique
Tanzania
Taiwan
Papua New Guinea
Myanmar
Burundi
Uganda
Vietnam
Mongolia
Eritrea
Cambodia
Faeroe Islands
Gibraltar
Seychelles
Bhutan
French Polynesia
St. Vincent Grenadines
Macao
Saint Lucia
Grenada
Timor-Leste
New Caledonia
Laos
Dominica
Saint Kitts and Nevis
Greenland
Falkland Islands

Listened to experts and did a better job than the US in adopting common sense measures to prevent/slow the spread of the virus.
 
2 days ago  
It was Obama who doubled the nation's debt, and it was during the Obama administration that it was announced that it was mathematically impossible for the US to every pay down the debt he wrung up.

TRUMP'S FAULT!!!!

On the other hand, Trump was performing miracles with the economy.  He should have let it crash for it's own good instead of pulling an Obama.  I'm disappointed in president Trump for behaving just like Obama.
 
2 days ago  

Malenfant: mrshowrules: Omnivorous: Oh, there's lots of people responsible for this, just not the ones who write the budgets and spend the money:
* the Chinese, who hold a mountain of U.S. debt
* George Soros -- who's responsible for everything, even Francisco Lindor's error the other day
* Joe Biden, of course, because the day he takes over the deficit will be ALL his
* Apple for producing cellphones in Chiner
* Obama because his was the most-corrupt administration in history
* Crooked HIllary because she's Crooked

Poe's law is a biatch.  I don't know what to make of this post.

You must be more baked than I am then, because it's obviously not serious.


I guess so.  I have not fired one up yet this evening though.  The Soros line was a bit over the top but I've seen every other point made sincerely by some Farkers in the past.
 
2 days ago  
Just what Trump meant when he said he'd run government like a business.

The bankruptcies out front should've told ya.

/The only people who want to run government like a business are people you don't want running your business.
 
2 days ago  
Subby, you are a moron.

Outlook doesn't mean a downgrade. It's literally still the same rating. AAA.
 
2 days ago  

Kangaroo_Ralph: Thanks, China.


For what?  Manipulating their coronavirus numbers to make their situation seem better than it really was?

So when will you start thanking Trump in the same way for doing the same thing?
 
2 days ago  
So does this mean we're going to have to buy Rent-to-Own F-35s?
 
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