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Exclusive: S&P to deeply cut U.S. ratings if debt payment missed


cavanami

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My gold and silver is looking better and better everyday!!!

 

Exclusive: S&P to deeply cut U.S. ratings if debt payment missed

 

http://news.yahoo.com/exclusive-p-deeply-cut-u-ratings-debt-payment-165217811.html

 

The United States would immediately have its top-notch credit rating slashed to "selective default" if it misses a debt payment on August 4, Standard & Poor's managing director John Chambers told Reuters.

 

Chambers, who is also the chairman of S&P's sovereign ratings committee, told Reuters on Tuesday that [color:red]U.S. Treasury bills maturing on August 4 would be rated 'D' if the government fails to honor them[/color]. Unaffected Treasuries would be downgraded as well, but not as sharply, he said.

 

"If the U.S. government misses a payment, it goes to D," Chambers said. "That would happen right after August 4, when the bills mature, because they don't have a grace period."

 

Fears of a technical default have been rising after budget negotiations between Democrats and Republicans fell apart in Washington earlier this week. Even a brief default by the United States would immediately increase the country's borrowing costs, [color:red]weighing on the fragile economic recovery and eroding the dollar's status as a reserve currency[/color].

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My gold and silver is looking better and better everyday!!!

 

Exclusive: S&P to deeply cut U.S. ratings if debt payment missed

 

http://news.yahoo.com/exclusive-p-deeply-cut-u-ratings-debt-payment-165217811.html

 

The United States would immediately have its top-notch credit rating slashed to "selective default" if it misses a debt payment on August 4, Standard & Poor's managing director John Chambers told Reuters.

 

Chambers, who is also the chairman of S&P's sovereign ratings committee, told Reuters on Tuesday that [color:red]U.S. Treasury bills maturing on August 4 would be rated 'D' if the government fails to honor them[/color]. Unaffected Treasuries would be downgraded as well, but not as sharply, he said.

 

"If the U.S. government misses a payment, it goes to D," Chambers said. "That would happen right after August 4, when the bills mature, because they don't have a grace period."

 

Fears of a technical default have been rising after budget negotiations between Democrats and Republicans fell apart in Washington earlier this week. Even a brief default by the United States would immediately increase the country's borrowing costs, [color:red]weighing on the fragile economic recovery and eroding the dollar's status as a reserve currency[/color].

 

 

Republicans want this to happen. It appears they will promote any idea that will 'destroy' Obama.

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The stupidity of humanity has no bounds .... In Thailand, the USA or the Netherlands or wherever it seems.

 

People vote in the right wing fascists tinpot dictators like WWII never happened. It seemed we forgot all the lessons we learned ... not that long ago.

 

I am really pessimistic about where the near future is headed :(

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I just hope I get my tax refund before Greece goes under - the doomsayers are claiming that it will be the trigger for GFC Part II, and some countries are still in the grip of Part I !

 

I guess the beauty of predicting the end of the world is that, sooner or later, you will be proved right. Imagine the queues outside Cowboy if every swinging dick based their lives around the economy going belly up within 3 months ;)

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I am not predicting the end of the world though. That is somewhere in 6 billion years or so :p

 

But I am more and more amazed about the stupidity of human beings, their short memories and their ability to repeat steps that in the past proved disastrous.

 

I mean come on, are for instance these republican politicians true patriots if they are willing to let their own economy go down in the dumps?

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I mean come on' date=' are for instance these republican politicians true patriots if they are willing to let their own economy go down in the dumps?[/quote']

 

Obviously, President Barry (Jim Jones) Obama has given you more than one cup of Kool Aid.

 

HH

 

Lets just say that if I was an USA-ian I wouldnt vote Democrats nor Republicans. The problem is there is not much else is there ..... I usually vote social-liberal, is there anything like that over there (in the Netherlands my vote goes to D66 as that is the closest to my own thoughts and views). But the hatred of Republicans for Democrats and of Democrats for Republicans make that they would rather have their own country go down the tubes than compromise with the "enemy"

 

D66: http://en.wikipedia.org/wiki/Democrats_66

I disagree with their point of wanting a US style presidency.

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