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This really is the neo-con shock doctrine. These bankers and credit rating agencies caused the crisis and now they seem determined to make workers pay even more by exacerbating the crisis.

Neo-con shock doctrine ? This is the product of collective US governments spending more than they collected in tax revenue.

Why do you think the bankers and credit rating agencies would want to exacerbate the crisis ?

$4 trillion of cuts isn't enough? Its hard to even comprehend how much money that is let alone the social problems it will cause.

It's easy to comprehend, it's around £3 dollars and 57 cents a day for every man women and child in the US.

($4,000,000,000,000 over 10 years in a population of 307,006,550 is $1,302.90 a year - or just under £3 and 57 cents a day).

The debt is currently $14 trillion (and estimated to exceed $23 trillion by 2021), do you feel it should just be left to grow ?

The pro-cuts-in-public-spending side of the debate is easy to demonize (a poster of a hospital queue and a crying baby with the words "neo-con shock doctrine" underneath should do the trick) but the debate is a little more complex than that.

Buy Dorra, sell aerospok !!

You, of all people, should know better.

I moved all my money from 650c to 700c and gone long on top tube protectors.

I moved all my money from 650c to 700c and gone long on top tube protectors.

Sound advice that. I shorted coloured chains and made a killing. The next big thing will me inverse shims, mark my words.

Sound advice that. I shorted coloured chains and made a killing. The next big thing will me inverse shims, mark my words.

I am keeping my ear close to the ground on coloured chains, waiting to see the third quarter results from KMC.

Fuck !

China have told the US they want their money back !

This is the official press release from the CPC:

*"Herro US and A

prease give us our morey back, all of it"*

I've just moved £240 from citrus fruit derivatives to thumb screws.

No hint of a joke there - pretty straight forward: Turns out that buying a hard overpriced large brown leather saddle is a pathetic waste of time.

.

With financial advice such as on these pages, Ponzi schemes are redundant. Pun intended.

With financial advice such as on these pages, Ponzi schemes are redundant. Pun intended.

Shit, just gone long on Ponzis.

I've been shorting ponzis for years.

Ponzi, anyone?

Fonzi anyone?

What does this mean (if anything) for likely exchange rate fluctuations between GBP and USD?

The Fonz has given it the thumbs up. That is all you need to know.

So there will be no appreciable fluctuations due to the Fonz balancing things with his wining smile and perfect hair?

So there will be no appreciable fluctuations due to the Fonz balancing things with his wining smile and perfect hair?

Eggzactly, he will simply Fonz the situation better.

Silly old Greeks- if only they knew that they could simply strike the juke box sharply on the side, then shrug whilst saying "Ehh!" and the entire situation would get better.

Someone should tell them.

What does this mean (if anything) for likely exchange rate fluctuations between GBP and USD?

http://www.google.co.uk/finance?q=gbpusd&hl=en

I conservatively predict somewhere between $1.685/£ by end of August. $1.720/£ by end of quarter.

No seriously, what do I know - BUY BUY BUY SELL SELL SELL!!!

I guess a better question might be what does this mean in terms of the dollar versus stable(ish) foreign currencies, i.e. will the downgrade of their debt status make dollars more or less desirable?

Is there any advantage to having more dollars tomorrow than one does today, or vice versa, in light of the new situation.

Note- I have no dollars

Note- I have no dollars

Definitely better to hold off on buying Dorra yet.
Im hoping the progressive weakening of the US towards autumn could essentially fund a trip to Alaska again.
The last time I went, I waited 3 or 4 weeks to get my currency and in those 3-4 weeks (in a similar situation to this) I basically went there with an extra 6% of $.

The US economy will likely falter after this downgrade. It's unlikely to be strong again until it finds a way to start reversing the huge debts it has

Fuck !

US may be about the announce it's credit rating is being downgraded from AAA !

Fuck !

That is just a label. Labels mean little unless one can look under the hood and cut the mustard. The aim of Gov't Bonds is to merely service it, not pay it off entirely. Those saying otherwise are duped in misconceptions. Servicing all manner of debt is a perpetually open-ended game.

Look under the hood and cut the mustard? You do have a peculiar way with words.

I guess a better question might be what does this mean in terms of the dollar versus stable(ish) foreign currencies, i.e. will the downgrade of their debt status make dollars more or less desirable?

Less.

And what is the Fonz going to do about this?