http://moneynews.newsmax.com/streettalk/bill_gross_us_rating/2009/05/22/217276.html
Apparently, this is becoming a strong possibility. Saw it on Glenn Beck. It basically means that the creditors in the world wont lend to the US at a low interest rate anymore, thus, increasing interest rates by ALOT. Something by increasing them by 4X . This will affect all loans US citizens try to get from what I understand. (Such as, your morgage.
Thoughts?
The credit rating of a country is tied largely to that countries’ capacity to be taxed. I think you’ll see an effort to raise taxes as to not lose that AAA rating. Politicians will do anything to keep the Machine running. I know I won’t be voting in the next election for the 2 clowns who currently represent my state.
JP
Very interesting comment that Warren Buffet made in the article that you posted that further illustrates the intentions of the United States government in the creation and “management” of hyperinflation.
“”“Warren Buffett is worried about the U.S. debt buildup too.
“A country that continuously expands its debt as a percentage of GDP … it’s going to inflate its way out of that debt,” he told CNBC. “””
I really respected warren buffet until he became an obama cheerleader.Maybe his economic brain is starting to work again,too bad it was’nt before the election.Oh well,it takes a carter to get a reagan.Buckle up my wise friends it’s gonna be a bumpy 4 yrs.
I totally agree. I lost all respect for Warren Buffet when he started promoting Obama. For him though, it’s all about the bottom dollar and as one of the members of the Bidelburg Group you must support who you have selected to do your dirty work. Buffet is one of the puppet masters.
With all the money Warren buffet has made, how many times has he been questioned about any ethical decisions he made?
The more likely situation here, if your not at the table, your on the menu. He knows this.