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"Failure to avoid the fiscal cliff and raise the debt ceiling in a timely manner as well as...

"Failure to avoid the fiscal cliff and raise the debt ceiling in a timely manner as well as securing agreement on credible deficit reduction would likely result in a rating downgrade in 2013," says Fitch, in a note titled, "No Fiscal Honeymoon for President Obama." (Moody's earlier)
Comments (13)
  • GaltMachine
    , contributor
    Comments (1135) | Send Message
     
    "House Speaker John Boehner said in his own victory speech last night that the return of a Republican majority to the House meant “no mandate for raising tax rates.”

     

    http://on.mktw.net/RFQUVK

     

    Co-equal branches of government.
    7 Nov 2012, 02:57 PM Reply Like
  • Gary Jakacky
    , contributor
    Comments (2478) | Send Message
     
    As if anyone gave a rats azz about the previous downgrade. If we get downgraded an more we'll have ZIRP on 30 year bonds.
    7 Nov 2012, 03:01 PM Reply Like
  • Guardian3981
    , contributor
    Comments (1954) | Send Message
     
    I get tired of John Boehner embracing being the bottleneck for the country by refusing to compromise on the Bush tax cut extension.
    7 Nov 2012, 03:02 PM Reply Like
  • Tricky
    , contributor
    Comments (1583) | Send Message
     
    It's an interesting experiment in "if your political strategy failed, double down on it"
    7 Nov 2012, 03:32 PM Reply Like
  • funguide
    , contributor
    Comments (48) | Send Message
     
    well we have to hold the 98% hostage for the demands of the 2%......we did sign a no new taxes pledge you know :)

     

    (Though I don't know how they would say they upheld the pledge if we fall over the cliff)
    7 Nov 2012, 03:46 PM Reply Like
  • spald_fr
    , contributor
    Comments (2711) | Send Message
     
    We need to have our "Thelma and Louise" moment off the fiscal cliff. Full speed ahead, crybaby Boehner will fold like a cheap lawn chair.
    7 Nov 2012, 05:35 PM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    The election was enough for them to downgrade the USA...IMHO....no spending stops now..full steam ahead...
    7 Nov 2012, 03:03 PM Reply Like
  • JJA1594
    , contributor
    Comments (67) | Send Message
     
    QE 4 EVAH !!!

     

    Damn the torpedoes! Full speed ahead!!
    7 Nov 2012, 03:09 PM Reply Like
  • funguide
    , contributor
    Comments (48) | Send Message
     
    I think we have been hearing about the ghost of inflation ever since QE1 but still have to meet this elusive figure. Anyhow the FED controls QE not the president, and votes next year are hawkish.
    7 Nov 2012, 03:41 PM Reply Like
  • David Urban
    , contributor
    Comments (1036) | Send Message
     
    Do you use gasoline to fill up your car?
    7 Nov 2012, 03:56 PM Reply Like
  • Hendershott
    , contributor
    Comments (1514) | Send Message
     
    David, gasoline prices are in their own world not related to the US or US oil prices.
    8 Nov 2012, 12:47 AM Reply Like
  • Tricky
    , contributor
    Comments (1583) | Send Message
     
    Hello Hendershott. I partially agree with your point. Certainly, in the big picture, the US can have a fairly marginal impact on the global supply and demand fundamentals. However, dollar debasement *has* been an appreciable contributor to oil prices. The last analysis I saw (admittedly, a few months back), showed that the price of oil really hadn't changed vs. gold, that the rise in both of those commodities in dollar terms was very close, leading to a not-illogical conclusion that much of oil's rise has been dollar debasement.
    8 Nov 2012, 10:12 AM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    Let the downgrade commence. US Treasury debt should reflect a proper rating, and it certainly isn't AAA.
    7 Nov 2012, 03:44 PM Reply Like
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