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Idiots taking us over a cliff

katrina

Well-known member
Treasury Secretary Timothy Geithner says the U.S. government "will never" lose its sterling credit rating despite big budget deficits and a newly increased debt limit that now tops $14 trillion.

Geithner says in an interview broadcast Sunday that in times of economic crisis, international investors will continue to buy U.S. Treasury bonds because the bonds are a safe investment.

Moody's Investors Service recently issued a warning that the government's credit rating could eventually be in jeopardy if nation's finances don't improve. The cost of borrowing would increase significantly if the ratings service lowered the credit rating, also known as a bond rating, for U.S. Treasuries.

Geithner tells ABC's "This Week" that will never happen.
 

Faster horses

Well-known member
One more reason to get rid of the tax-evading, smart a--, crooked liberal.

"If I say it ain't so, it ain't so". GRRRRRR :mad:
I thought these were educated people. More like educated idiots.
They think THEY ARE TOO BIG TO FAIL. :x
 

Sandhusker

Well-known member
The very people who do the ratings are sending warnings and Gueithner is denying the possibility? He shares the arrogance and lack of a grasp of reality that his boss has. :mad:
 

hopalong

Well-known member
Sandhusker said:
The very people who do the ratings are sending warnings and Gueithner is denying the possibility? He shares the arrogance and lack of a grasp of reality that his boss has. :mad:

Yea but let Sarah not pay a tax bill that has not even been presented and the liberals go through the roof.
 

Tam

Well-known member
Faster horses said:
One more reason to get rid of the tax-evading, smart a--, crooked liberal.

"If I say it ain't so, it ain't so". GRRRRRR :mad:
I thought these were educated people. More like educated idiots.
They think THEY ARE TOO BIG TO FAIL. :x

This "educated guy" took money from his employer and sign a paper acknowledging he knew it was to pay his taxes then didn't pay them.

This "educated man" had the job of regulating Wall Street Fat Cat Bankers during the time they were making more and more risky loans and did nothing to stop them.

This "educated man" was appointed by another "educated man" to head the IRS even after it was common knowledge he was a tax cheat that worked at the NY FED that didn't regulate a damn thing that resulted in the largest in modern history economic meltdown.

And you expect him or his educated boss to heed the Moody warning and do something to stop the down grading. :shock:

Why when he and his boss will just blame it on Bush, THEN triple down on the debt to cover the cost of their health care plan, that American Voters have warned them with their votes in several different elections THEY DON"T WANT.

Like my dad use to say "they have educated all common sense out of that man" :roll:
 

hypocritexposer

Well-known member
The Greenspan-Guidotti rule.

The rule states: To avoid a default, countries should maintain hard currency reserves equal to at least 100% of their short-term foreign debt maturities. The world's largest money management firm, PIMCO, explains the rule this way: "The minimum benchmark of reserves equal to at least 100% of short-term external debt is known as the Greenspan-Guidotti rule. Greenspan-Guidotti is perhaps the single concept of reserve adequacy that has the most adherents and empirical support."


So how does America rank on the Greenspan-Guidotti scale? It's a guaranteed default. The U.S. holds gold, oil, and foreign currency in reserve. The U.S. has 8,133.5 metric tonnes of gold (it is the world's largest holder). That's 16,267,000 pounds. At current dollar values, it's worth around $300 billion. The U.S. strategic petroleum reserve shows a current total position of 725 million barrels. At current dollar prices, that's roughly $58 billion worth of oil. And according to the IMF, the U.S. has $136 billion in foreign currency reserves. So altogether... that's around $500 billion of reserves
 
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