southsider2k5 Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (Balta1701 @ Aug 5, 2011 -> 12:12 PM) Dogs and cats, living together? Come on, that was before you were born! Link to comment Share on other sites More sharing options...
southsider2k5 Posted August 5, 2011 Share Posted August 5, 2011 Real nice rally over the last hour and a half. It will be interesting to see if it is a lunch cover, or if it is a real dip buy. Link to comment Share on other sites More sharing options...
Balta1701 Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (southsider2k5 @ Aug 5, 2011 -> 01:21 PM) Come on, that was before you were born! ? No it wasn't. Link to comment Share on other sites More sharing options...
southsider2k5 Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (Balta1701 @ Aug 5, 2011 -> 12:57 PM) ? No it wasn't. The original Ghostbusters? Link to comment Share on other sites More sharing options...
Balta1701 Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (southsider2k5 @ Aug 5, 2011 -> 02:07 PM) The original Ghostbusters? How young do you think I am? Link to comment Share on other sites More sharing options...
HuskyCaucasian Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (Balta1701 @ Aug 5, 2011 -> 01:13 PM) How young do you think I am? I would say... 30? Born sometime in January. just a guess. Link to comment Share on other sites More sharing options...
southsider2k5 Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (Athomeboy_2000 @ Aug 5, 2011 -> 01:20 PM) I would say... 30? Born sometime in January. just a guess. That was about my guess. That would have made you about 3 when the movie came out. Link to comment Share on other sites More sharing options...
Balta1701 Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (southsider2k5 @ Aug 5, 2011 -> 02:32 PM) That was about my guess. That would have made you about 3 when the movie came out. Which confuses me since you said it was before I was born. Link to comment Share on other sites More sharing options...
HuskyCaucasian Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (Balta1701 @ Aug 5, 2011 -> 01:35 PM) Which confuses me since you said it was before I was born. Heck I was 1 (born in 83), and I LOVE the Ghostbusters movies. Link to comment Share on other sites More sharing options...
southsider2k5 Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (Balta1701 @ Aug 5, 2011 -> 01:35 PM) Which confuses me since you said it was before I was born. Close enough youngin. Link to comment Share on other sites More sharing options...
Balta1701 Posted August 5, 2011 Share Posted August 5, 2011 There is a lot of talk happening that S&P is prepping to downgrade the U.S. debt anyway, including reports from CNBC and ABC. Link to comment Share on other sites More sharing options...
StrangeSox Posted August 5, 2011 Share Posted August 5, 2011 why is it we put so much stock on the same ratings agencies that helped tank the world economy? Link to comment Share on other sites More sharing options...
Balta1701 Posted August 5, 2011 Share Posted August 5, 2011 QUOTE (StrangeSox @ Aug 5, 2011 -> 06:35 PM) why is it we put so much stock on the same ratings agencies that helped tank the world economy? Their ratings are actually given legitimate status in the law. It's a way to work through the requirements to hold good capital to avoid collapsing under losses. Clearly, it didn't work well, and we still haven't reformed them. But there is a kernel of truth here...if I'm a wall street investment firm and I want to invest in marginally-risky companies that could give high return (i.e. some tech company) I need to be able to judge how safe the rest of my investments are so that I know I won't have 6 tech companies go under and suddenly find that my firm is insolvent. There does need to be some mechanism by which that happens. You can't have AIG certify that AIG's assets are A-OK, that's no better than what we got in 2008. Link to comment Share on other sites More sharing options...
lostfan Posted August 6, 2011 Share Posted August 6, 2011 QUOTE (Balta1701 @ Aug 5, 2011 -> 06:06 PM) There is a lot of talk happening that S&P is prepping to downgrade the U.S. debt anyway, including reports from CNBC and ABC. Boom goes the dynamite. However, one of S&P's explicit criticisms of the compromise was that it didn't address the biggest drivers of the nation's debt -- Social Security and Medicare -- and didn't allow for additional tax revenue. ("What's wrong with the debt ceiling deal?") John Chambers, Head of Sovereign Ratings for S&P, told CNN that though S&P didn't have a specific target in mind, the total debt reduction package was not sufficient. Chambers also noted that the plan did not take steps in the near term to boost economic growth. Link to comment Share on other sites More sharing options...
Y2HH Posted August 6, 2011 Share Posted August 6, 2011 QUOTE (lostfan @ Aug 5, 2011 -> 10:23 PM) Boom goes the dynamite. All I can say is don't be a fool and panic this week, a lot of people are going to lose a lot by selling...wait it out, and if anything, buy in the aftermath (whatever that ends up being). Link to comment Share on other sites More sharing options...
lostfan Posted August 6, 2011 Share Posted August 6, 2011 QUOTE (Y2HH @ Aug 5, 2011 -> 11:48 PM) All I can say is don't be a fool and panic this week, a lot of people are going to lose a lot by selling...wait it out, and if anything, buy in the aftermath (whatever that ends up being). I wish I had cash laying around in 2008. You could've bought damn near any f***ing thing then and made like 300% off of it. Link to comment Share on other sites More sharing options...
Y2HH Posted August 6, 2011 Share Posted August 6, 2011 QUOTE (lostfan @ Aug 5, 2011 -> 10:49 PM) I wish I had cash laying around in 2008. You could've bought damn near any f***ing thing then and made like 300% off of it. You may get that opportunity again, but who knows what will happen. If cooler heads prevail, nothing will happen because the rating downgrade means almost nothing since the other major ratings remain at AAA. Link to comment Share on other sites More sharing options...
Balta1701 Posted August 6, 2011 Share Posted August 6, 2011 QUOTE (Y2HH @ Aug 5, 2011 -> 11:52 PM) You may get that opportunity again, but who knows what will happen. If cooler heads prevail, nothing will happen because the rating downgrade means almost nothing since the other major ratings remain at AAA. I'm guessing that's why they did this on a Friday night. They wanted to make their political statement but they didn't want to set off an instant panic while the markets were open. Link to comment Share on other sites More sharing options...
StrangeSox Posted August 6, 2011 Share Posted August 6, 2011 QUOTE (Balta1701 @ Aug 6, 2011 -> 08:22 AM) I'm guessing that's why they did this on a Friday night. They wanted to make their political statement but they didn't want to set off an instant panic while the markets were open. bingo. Link to comment Share on other sites More sharing options...
southsider2k5 Posted August 6, 2011 Share Posted August 6, 2011 It also gives the feds a chance to counter with some "good" news if they want to do so. Link to comment Share on other sites More sharing options...
Rex Kickass Posted August 6, 2011 Share Posted August 6, 2011 So let me get this straight. S&P admit to making a two trillion dollar error in their assessment of the US creditworthiness, and cite Social Security as a debt driver in the next ten years when Social Security does not contribute to the deficit in any way shape or form. And we're supposed to listen why? Link to comment Share on other sites More sharing options...
Y2HH Posted August 6, 2011 Share Posted August 6, 2011 QUOTE (Rex Kicka** @ Aug 6, 2011 -> 11:25 AM) So let me get this straight. S&P admit to making a two trillion dollar error in their assessment of the US creditworthiness, and cite Social Security as a debt driver in the next ten years when Social Security does not contribute to the deficit in any way shape or form. And we're supposed to listen why? Keep in mind they're the same people that gave default swap trash mortgages AAA ratings. Link to comment Share on other sites More sharing options...
SoxFanForever Posted August 6, 2011 Share Posted August 6, 2011 QUOTE (Y2HH @ Aug 6, 2011 -> 11:28 AM) Keep in mind they're the same people that gave default swap trash mortgages AAA ratings. Oh wait, Lehman and AIG shouldn't be AAA? Oops, our bad! Link to comment Share on other sites More sharing options...
Balta1701 Posted August 6, 2011 Share Posted August 6, 2011 QUOTE (Y2HH @ Aug 6, 2011 -> 12:28 PM) Keep in mind they're the same people that gave default swap trash mortgages AAA ratings. A number of articles I've read have said that the statutory rules for the Treasuries being counted as AAA assets are unchanged by having this S&P downgrade, is that correct? I.e. outside of a few obscure places, no one is "Forced" to dump these assets by rules? Link to comment Share on other sites More sharing options...
Y2HH Posted August 7, 2011 Share Posted August 7, 2011 QUOTE (Balta1701 @ Aug 6, 2011 -> 03:01 PM) A number of articles I've read have said that the statutory rules for the Treasuries being counted as AAA assets are unchanged by having this S&P downgrade, is that correct? I.e. outside of a few obscure places, no one is "Forced" to dump these assets by rules? More than 1 of the 3 need to downgrade for it to actually matter. Also, the downgrades don't actually mean anything, they're more or less just "advise". Japan said they're not changing their policy with the USD regardless of the downgrade -- in other words - Japan said they're completely dismissing the S&P downgrade. What these usually do is cause interest rates to rise ever so slightly, if people listen to them. Link to comment Share on other sites More sharing options...
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