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12-10-2011, 01:45 PM
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Jigsawed
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Join Date: May 2009
Posts: 10,557
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Some sh@t when you can't devalue your currency!
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12-10-2011, 02:11 PM
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Resident octogenarian
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Join Date: May 2009
Location: Maryland
Posts: 20,860
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In that same issue Simon Schama, the noted British historian had a nice comment about Standars & Poor's and Moody's;
"Credit-rating agencies—those ravening hyenas of fiscal trouble—move on from one economy, mutilated by sovereign-debt downgrade, to another, traveling north from the basket cases of the Mediterranean, crossing the Alps in search of freshly fallen game. You might think that the agencies that were the enablers of the subprime calamity and were capable of making a trillion-dollar error in calculating American debt reduction over the next decade would have the decency to go into hiding for just a while before presuming to decree the viability of hard-pressed states to meet their bond obligations."
I agree with this assessment.
__________________
Great minds discuss ideas; Average minds discuss events; Small minds discuss people.
Eleanor Roosevelt
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12-10-2011, 04:07 PM
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Area Man
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Join Date: Oct 2009
Location: The Swamp
Posts: 27,407
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Quote:
Originally Posted by Charles
"Give me control of a nations money supply, and I care not who makes it's laws." Mater Amschel Rothschild
Chas
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Methinks you may be on to something, Chas.
Dave
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"When the lie is so big and the fog so thick, the Republican trick can play out again....."-------Frank Zappa
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12-10-2011, 08:46 PM
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Senior Member
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Join Date: May 2009
Posts: 10,348
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Quote:
Originally Posted by merrylander
In that same issue Simon Schama, the noted British historian had a nice comment about Standars & Poor's and Moody's;
"Credit-rating agencies—those ravening hyenas of fiscal trouble—move on from one economy, mutilated by sovereign-debt downgrade, to another, traveling north from the basket cases of the Mediterranean, crossing the Alps in search of freshly fallen game. You might think that the agencies that were the enablers of the subprime calamity and were capable of making a trillion-dollar error in calculating American debt reduction over the next decade would have the decency to go into hiding for just a while before presuming to decree the viability of hard-pressed states to meet their bond obligations."
I agree with this assessment.
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Believe it or not, this dovetails nicely with a lot of opinions advanced by the John Birch Society.
Myself, being a fool from Bugtussell, who's only knowledge of high finance boils down to an analogy of a simple minded poker game....
Whenever you look around the table, and you can't tell who the sucker is , then the sucker is you.
Chas
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12-11-2011, 09:16 AM
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Senior Member
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Join Date: May 2009
Location: Upper Canuckistan
Posts: 2,180
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Quote:
Originally Posted by merrylander
In that same issue Simon Schama, the noted British historian had a nice comment about Standars & Poor's and Moody's;
"Credit-rating agencies—those ravening hyenas of fiscal trouble—move on from one economy, mutilated by sovereign-debt downgrade, to another, traveling north from the basket cases of the Mediterranean, crossing the Alps in search of freshly fallen game. You might think that the agencies that were the enablers of the subprime calamity and were capable of making a trillion-dollar error in calculating American debt reduction over the next decade would have the decency to go into hiding for just a while before presuming to decree the viability of hard-pressed states to meet their bond obligations."
I agree with this assessment.
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Brilliant!
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12-12-2011, 01:18 AM
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Senior Member
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Join Date: Feb 2011
Location: San Diego California
Posts: 3,261
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Quote:
Originally Posted by Bigerik
Brilliant!
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We appear to be in agreement on this issue. I have no use for the ratings agencies; however, they still have an effect upon financial decisions despite their record.
__________________
Dear Optimist: Unless life gives you water and sugar too, your lemonade will suck.
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12-13-2011, 11:08 AM
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Loyal Opposition
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Join Date: Oct 2009
Location: Johnson County, Kansas
Posts: 14,401
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Quote:
Originally Posted by bhunter
We appear to be in agreement on this issue. I have no use for the ratings agencies; however, they still have an effect upon financial decisions despite their record.
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You keep agreeing with lefties and people are going to start questioning your ideological purity.
Regards,
D-Ray
__________________
Then I'll get on my knees and pray,
We won't get fooled again; Don't get fooled again
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12-13-2011, 11:35 AM
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Possibly admin. Maybe ;)
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Join Date: Sep 2009
Location: Land of the burning river
Posts: 21,098
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The ratings agencies are trying to CYA after they missed the mortgage crisis.
Hoover started the Depression? That's a new one on me :headscrtch:
Pete
__________________
“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
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12-13-2011, 12:07 PM
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Resident octogenarian
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Join Date: May 2009
Location: Maryland
Posts: 20,860
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Instead of spending money to jumpstart the economy he set out to balance the budget same stupid ideas the GOP is putting forward today.
__________________
Great minds discuss ideas; Average minds discuss events; Small minds discuss people.
Eleanor Roosevelt
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12-13-2011, 12:17 PM
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Possibly admin. Maybe ;)
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Join Date: Sep 2009
Location: Land of the burning river
Posts: 21,098
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He knew the sytem was rotten, pulled his cash out of the stock market before the crash and told everyone who would listen to do the same.
Many of the programs continued by FDR were started by him. The big difference is Hoover wouldn't give money directly to people, he gave it to the States for disbursment.
Pete
__________________
“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
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