S&P credit downgrade of US

bigbadwolf

bigbadwolf

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It would appear that S&P downgraded US creditworthiness from AAA to AA+. Where will the downward spiral stop? When American debt is at or near junk bond status? As conditions continue to deteriorate, are we going to see an exodus of hungry and desperate Americans? The future does not bode well.
 
John.St said:
The proof is in the pudding:
http://www.bbc.co.uk/news/business/market_data/currency/13/12/twelve_month.stm

- and it started at 0.77
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I should have said Eurozone. Is it doing much better? True the US $ has weakened against the Euro over the past year, but the same site you link also shows that the US stock market has out performed the FTSE, CAC, and DAX over the last year. The point is that I don't see the Eurozone economies doing much better than the US economy. Both are debt ladden and the prospects for both are dim.
http://www.bbc.co.uk/news/business/market_data/stockmarket/twelve_month.stm
 
it´s so funny to see all of this happening now after people like schiff and posters such as ourselves said it would, almost 3 years ago. i´d like to hear from all the people who were so pro USA and the dollar, denying that there was a problem, waiting for the economic recovery.

i´d then like to hear from the ones who said not to buy gold, that gold was in a bubble or that we have the smartest, most intelligent people in our government(obama et al) that will solve this mess.

what people are still/finally coming to grips with is that there has been a paradigm shift. it's becoming painfully obvious by now that we´re not going to be able to return to the way things were, at least not in the short term.

i´ve said this many many many times in my previous posts but it deserves repeating. there will be no economic recovery. now is the time for precious metals such as gold and silver until such time they trot out some new and improved fiat currency to save the world and get us all to trust in their fraud again.

oh and there´s no difference between a democrat and a republican. we have a one party system that gives us the illusion of 2 sides, that´s all.
 
redrum said:
What people are still/finally coming to grips with is that there has been a paradigm shift. it's becoming painfully obvious by now that we´re not going to be able to return to the way things were, at least not in the short term. There will be no economic recovery. now is the time for precious metals such as gold and silver until such time they trot out some new and improved fiat currency to save the world and get us all to trust in their fraud again.

oh and there´s no difference between a democrat and a republican. we have a one party system that gives us the illusion of 2 sides, that´s all.
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100% Effing CORRECT !!! Hey Redrum, I have a serious question for you. Right now I live in Southern California (1/2 an hour from the beach). Don't know if you're familiar but some near beach houses (1 to 2 miles away from the beach. Dana Point, San Juan Capistrano, etc) are going for 400,000 - 500,000 with interest under 5%. Is this a "good idea" investment for these VERY SPOOKY times or is it not a financially safe move? Is there a dangerous side to it? Help me out if you can, this is a 100% serious question since my GF and I are starting to take this idea very seriously and I wanna make sure I don't F-up big time. Thanks, Dudester

(sorry about going OT but Redrum is a smart guy and I need as much info as possible)
 
Dudester said:
100% Effing CORRECT !!! Hey Redrum, I have a serious question for you. Right now I live in Southern California (1/2 an hour from the beach). Don't know if you're familiar but some near beach houses (1 to 2 miles away from the beach. Dana Point, San Juan Capistrano, etc) are going for 400,000 - 500,000 with interest under 5%. Is this a "good idea" investment for these VERY SPOOKY times or is it not a financially safe move? Is there a dangerous side to it? Help me out if you can, this is a 100% serious question since my GF and I are starting to take this idea very seriously and I wanna make sure I don't F-up big time. Thanks, Dudester

(sorry about going OT but Redrum is a smart guy and I need as much info as possible)
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tough call but i'd say go for it. real estate as you know is always a local market and properties near the beach will always be in demand. if you can pick up a great property at a discount then why not. what schiff says is to get a loan, take advantage of low rates, then pay the loan back over time with cheaper dollars.

it's the same thing they do here in argentina. people love buying things and making payments because they know the peso is being devalued against the dollar. at the same time however you should be owning gold so that as the dollar devalues you have an asset that is hedged and appreciating.

PM me if you want to discuss in further detail.
 
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