Barack Obama Caves to Pressure at the Eleventh Hour

Originally Posted by Tyburn

I DID...and I typed out a huge response...then realized you'd edited

lol

Did you say that this was from a paper or something?
Cause I though you wrote it and it was all your opinions.
that was why I reacted the way i did at first.

[Tyburn]

Originally Posted by Rev

Did you say that this was from a paper or something?
Cause I though you wrote it and it was all your opinions.
that was why I reacted the way i did at first.

It my paraphrasing of about three papers I read this morning which were supposed to show the world reaction to the American Deal. I thought people would be happy, and I was glad the Republican won.

But people are not happy, they are so unhappy, that the deal may not be enough to overt catastrophe. So I outlined why. I have the ability to read other peoples arguments and paraphrase in my own language...and being English its what I hear people say about Americans all the time. Sometimes I can empathize, and mostly I can understand..but I dont always aggree.

The Chinese Paper I have not personally read, I heard about it through a secondary source that described it as "Furious" and "livid"

You all jumped on criticisms of the Republicans...without realizing, I also outlined first the criticisms against the Democrats. People are largely unimpressed that it took you guys so long to come to any decision, and they dislike the bickering from BOTH parties.

But then...some of them dont care enough to understand how American politics works, they dont know what either party stand for...all they know is whilst there is no deal, there is no safety, and the longer it takes, the less confidence they have in your Government.

Most of you picked what you wanted to read because at heart, you dont really accept anything that a Non American says about America. You dont want or like any advise, however relevant, or helpful, or unhelpful it might be.

There has been next to nothing in this political section about world politics outside what I bring to your attention...there is also grande occasions when I publish news in some state before anyone from that state does.

I cant help it

[Tyburn]

I hasten to add, that I think two out of the three companies that will make the final decision, presumably tonight...are based in America...with any luck they might choose to ignore public opinion and leave the credit rating alone...there is always hope

[Neezar]

Originally Posted by Tyburn

It my paraphrasing of about three papers I read this morning which were supposed to show the world reaction to the American Deal. I thought people would be happy, and I was glad the Republican won.

But people are not happy, they are so unhappy, that the deal may not be enough to overt catastrophe. So I outlined why. I have the ability to read other peoples arguments and paraphrase in my own language...and being English its what I hear people say about Americans all the time. Sometimes I can empathize, and mostly I can understand..but I dont always aggree.

The Chinese Paper I have not personally read, I heard about it through a secondary source that described it as "Furious" and "livid"

You all jumped on criticisms of the Republicans...without realizing, I also outlined first the criticisms against the Democrats. People are largely unimpressed that it took you guys so long to come to any decision, and they dislike the bickering from BOTH parties.

But then...some of them dont care enough to understand how American politics works, they dont know what either party stand for...all they know is whilst there is no deal, there is no safety, and the longer it takes, the less confidence they have in your Government.

Most of you picked what you wanted to read because at heart, you dont really accept anything that a Non American says about America. You dont want or like any advise, however relevant, or helpful, or unhelpful it might be.

There has been next to nothing in this political section about world politics outside what I bring to your attention...there is also grande occasions when I publish news in some state before anyone from that state does.

I cant help it

I wouldn't trust his paraphrasing. That is all I have to say.

[Bonnie]

Originally Posted by Tyburn

It my paraphrasing of about three papers I read this morning which were supposed to show the world reaction to the American Deal. I thought people would be happy, and I was glad the Republican won.

But people are not happy, they are so unhappy, that the deal may not be enough to overt catastrophe. So I outlined why. I have the ability to read other peoples arguments and paraphrase in my own language...and being English its what I hear people say about Americans all the time. Sometimes I can empathize, and mostly I can understand..but I dont always aggree.

The Chinese Paper I have not personally read, I heard about it through a secondary source that described it as "Furious" and "livid"

You all jumped on criticisms of the Republicans...without realizing, I also outlined first the criticisms against the Democrats. People are largely unimpressed that it took you guys so long to come to any decision, and they dislike the bickering from BOTH parties.

But then...some of them dont care enough to understand how American politics works, they dont know what either party stand for...all they know is whilst there is no deal, there is no safety, and the longer it takes, the less confidence they have in your Government.

Most of you picked what you wanted to read because at heart, you dont really accept anything that a Non American says about America. You dont want or like any advise, however relevant, or helpful, or unhelpful it might be.

There has been next to nothing in this political section about world politics outside what I bring to your attention...there is also grande occasions when I publish news in some state before anyone from that state does.

I cant help it

Dave! Your thread title alone was good enough to start the conversation going about what's been going on in Washington with this debt ceiling deal. There were valid things in your original post like our credit rating, what that could mean regarding our loans, the elections, confidence... Just a suggestion, next time make sure everyone knows when you're paraphrasing from other sources and separate that part from your own thoughts on the matter. Maybe you won't catch so much flack next time. I doubt it, but, maybe...

Also, we do realize we are not in a vacuum here in America and things we do here often can and do affect others and not just ourselves. Believe me, a lot of Americans are not happy with what's going on in Washington with these politicians and how disconnected they still seem to be with how unhappy we are with them and all the bickering that goes on. We're not blind either, we know they've always got in mind that next election in whatever they do. "What's going to get us votes" seems to be what drives the agenda instead of "what's best for our country".

[Bonnie]

Originally Posted by Neezar

I wouldn't trust his paraphrasing. That is all I have to say.

Maybe copy and paste is the better way to go.

[Tyburn]

Originally Posted by Neezar

I wouldn't trust his paraphrasing. That is all I have to say.

[Tyburn]

Originally Posted by Bonnie

Maybe copy and paste is the better way to go.

I would usually...but this was a written paper from the library and I couldnt steal it to scan it in

The photocopier was not working neither.

In the news this morning:

http://www.reuters.com/article/2011/...77052U20110802

By Ellen Freilich

NEW YORK | Tue Aug 2, 2011 7:51am EDT

NEW YORK (Reuters) - The United States could lose its triple-A credit rating from at least one rating agency this year, raising the question: Who cares?

Strange as it may sound, a downgrade could resound in financial markets more with a whimper than a bang.

As debate raged in Washington over raising the debt ceiling and avoiding a default, markets had plenty of time to factor in the thinking of Standard & Poor's, Moody's and Fitch on a potential downgrade.

"Market participants have the same information that ratings agencies do," said Michael Moran, chief economist at Daiwa Securities America in New York. "(That information) should already be reflected in interest rates."

Two ratings agencies, elected by no one, said $4 trillion in deficit-cutting measures would allow them to confirm the U.S. triple-A rating. Lawmakers, who in contrast must answer to American voters, agreed on less than $2.5 trillion in budget cuts, only some of them immediate.

That means S&P could downgrade U.S. ratings in the next few days or weeks. Moody's would likely confirm U.S. ratings, but slap a negative outlook on them, a sign of a possible downgrade in the next 12 to 18 months.

Still, historical experience suggests a downgrade would produce none of the bond-market angst some fear. Japan lost AAA status more that a decade ago and it has some of the lowest interest rates in the developed world.

As it was with Japan, the big issue for markets is the weak U.S. economy, which could slow further due to the spending cuts in the deficit-cutting deal.

This fiscal restraint could curb spending, job growth and inflation -- the biggest drivers of bond yields.

Also, investors see the United States in a much different situation than crisis countries such as Greece. Awash in debt though it is, the United States is still able to pay its bills while Treasury bonds remain liquid and in demand.

The bond market is the ultimate arbiter of sovereign debt worries, and low U.S. yields suggest none of the anxiety that sent Greek yields soaring during that country's fiscal crisis.

Benchmark 10-year yields now stand at 2.74 percent, which is just 0.7 percentage point from the all-time low and follows weeks of high-tension haggling and fears political paralysis could result in a default.

Still, a U.S. debt rating cut to AA-plus from AAA by Standard & Poor's is "the market's base case at the moment," said Krishna Memani, fixed-income director at OppenheimerFunds.

While bonds have done well, stocks and the dollar suffered during the debt impasse amid fears the political conflict would make it impossible to reach a deal to avoid default.

Some are skeptical of the heightened ratings rhetoric.

The Obama administration has grown frustrated with Standard & Poor's during the debt limit crisis and accused the ratings agency of changing the goal posts in its downgrade warnings.

Since October, S&P has accelerated its deadline three times for when it might downgrade the United States' credit rating.

"Based on the comments Standard & Poor's has made so far, they've backed themselves into a corner, making it very likely that we could see a downgrade," said Oliver Pursche, president at Gary Goldberg Financial Services in Suffern, New York.

But a well-telegraphed U.S. debt ratings downgrade pales in significance with evidence of flagging economic growth, including Monday's report showing U.S. manufacturing grew at its slowest pace in two years in July.

Consequently, a U.S. debt ratings downgrade would not cause yields to skyrocket, limiting the so-called knock-on effects on other interest rates, such as those on mortgages.

"We will see first-hand what it means to balance the budget and from an economic standpoint, it ain't gonna be a pretty picture," said David Rosenberg, chief economist and strategist at Gluskin Sheff in Toronto.

A fall in "discretionary" government spending to zero would lead to "a very deep recession," Rosenberg said.

Then, whether they are rated AAA or AA+, "you will find a lot of people buying Treasuries because that's what people will want to own when we go to a negative growth rate," he said.