Korean Job Discussion Forums

[andyrider]

Here it goes...if you are worried, you may want to take some money out from your bank account. There MAYBE some chaos on Monday.


http://www.zerohedge.com/news/sp-downgrades-us-aa-outlook-negative-full-text

[Kuros]

The decline begins.

[NohopeSeriously]

This is absolutely bad for the USA.

[ZIFA]

Relax folks, unemployment is falling.

Standard & poors is only one credit agency. There are others. And they are keeping the US at AAA.

[visitorq]

By lowering the government's credit rating, the same banksters who run the rating agencies (and fraudulently rated all the toxic derivatives leading up to the 2008 crisis as AAA pure gold) are making it more expensive for the government to incur debt in the future (since US bonds are now a riskier investment). In the end all that extra interest will be paid over to the same zombie banks around around the world (including those that own the Federal Reserve, which "lends" the government money created out of thin air) and this after we just signed on for trillions in bail outs to save the financial sector from collapse.

So in other words: the US taxpayer signs on to give trillions to the banks at zero interest, which effectively transforms the bank debt into government debt, and then these same banks turn around and "lend" that money back to the US at interest, and finally get the ratings agencies (who are in their back pocket) to lower the credit rating and jack up interest yields on bonds, meaning more money for the banks. It's all wanton criminality and such an utterly monumental scam that I really wonder how many of your average Americans will be capable of doing the above mental gymnastics required to understand the situation...

[rainism]

YAWN.

the credit agencies were one of the primary parties responsible for the mortgage crisis and the economic decline that followed.

they have about zero credibility at the moment.

now they have to try to regain some cred back, and the best way to do it is to grab attention by being super aware, after being asleep at the wheel for a decade.

besides, it doesn't matter.. they downgraded Japan several times, yet the Japanese bonds and Japanese Yen skyrocketed.

[lithium]

[johnnyenglishteacher2]

[visitorq]