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Ya-ta Boy
Joined: 16 Jan 2003
Location: Established in 1994
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 Posted: Sat Aug 13, 2011 5:14 am Post subject: |
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| I find it suspicious they lowered it now. |
S & P spokesmen have said several times now that the reason they did it now was that "un-named parties" were playing with defaulting on purpose for political advantage. |
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silkhighway
Joined: 24 Oct 2010
Location: Canada
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| Posted: Sat Aug 13, 2011 8:40 am Post subject: |
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| Ya-ta Boy wrote: |
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| I find it suspicious they lowered it now. |
S & P spokesmen have said several times now that the reason they did it now was that "un-named parties" were playing with defaulting on purpose for political advantage. |
Yes. Whether you think they overstepped their mandate or not, S&P made the credit rating cut for political reasons, not economic ones. Look how both the stock markets and bond interest rates have both dropped. If in fact, investors are losing confidence in the US dollar would they be pulling their money out of stocks and buying more bonds? Does that make sense to anyone? I'd love someone to explain why, because to me it seems an awful lot like the dismal short-term economic outlook is rattling investors a lot more than the long-term chance of a US default. |
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