In the news

Balki (I think) is saying this: if interest paid on bonds goes up (the interest the US pays to borrow money, not the interest the fed sets) . . .

If interest goes up, do taxes (eventually) go up as someone needs to service the debt and the US citizens are the only one's with money, the government has none of it's own, the fact that over half the debt is held by the US itself further mashes shit up . . ? ? ?

. . and you have faith that the US government won't default (ultimately, if you have faith in the USD as a currency). . .

If the lowering of the credit rating is an indication of anything it's an indication of an increase in the likelihood of a default (however still unlikely) ?

you could see the USD become more desirable.

Should the UK campaign (or otherwise engineer) to lower it's credit rating to also enjoy these benefits ?

Maybe you got this already and there is something more subtle which you're trying to hash out.

911 was a inside job ?

I am trying to see (which I currently can't make) why the downgrading on the US' credit rating is a good thing, from what you are Balki are saying it is (or in the right circumstances can be).

But that has me wondering why this is presented as bad news, why the White House vociferously lobbied against it and why other countries aren't actively campaigning to head for the low Cs ?

If interest goes up, do taxes (eventually) go up as someone needs to service the debt and the US citizens are the only one's with money, the government has none of it's own, the fact that over half the debt is held by the US itself further mashes shit up . . ? ? ?

Yes. As the cost of repayments go up, things are fiscally worse for the US government. Taxes or cuts need to be made to make up the difference.

If the lowering of the credit rating is an indication of anything it's an indication of an increase in the likelihood of a default (however still unlikely) ?

Of course. But we're not dealing in absolutes. Look at some of the other countries with an AA+ rating. Not exactly lost causes.

Should the UK campaign (or otherwise engineer) to lower it's credit rating to also enjoy these benefits ?

What benefits?

911 was a inside job ?

?

I am trying to see (which I currently can't make) why the downgrading on the US' credit rating is a good thing, from what you are Balki are saying it is (or in the right circumstances can be).

But that has me wondering why this is presented as bad news, why the White House vociferously lobbied against it and why other countries aren't actively campaigning to head for the low Cs ?

No one said it was a good thing. The question, which you yourself quote, was "will the downgrade of their debt status make dollars more or less desirable." Balki was explaining that it could make it more desirable for some. The US is opposed to it because it rocks faith in the US economy and could lead to government loans costing more money. That "more money" goes somewhere, and for them (those who get the "more money") it is desirable to own that US debt (which is in US dollars).

What benefits?

A more desirable pound, an increase in exports ..

?

Deny it all you want, the truth will surface.

No one said it was a good thing. The question, which you yourself quote, was "will the downgrade of their debt status make dollars more or less desirable." Balki was explaining that it could make it more desirable for some. The US is opposed to it because it rocks faith in the US economy and could lead to government loans costing more money. That "more money" goes somewhere, and for them (those who get the "more money") it is desirable to own that US debt (which is in US dollars).

Ok, I see, thanks for explaining it.

The investigation into the Tottenham riot is going to be led by the Sweeney.

The investigation into the Tottenham riot is going to be led by the Sweeney.

the Sweeney, the Sweeney, da da da da da da, the Sweeney.
the Sweeney, the Sweeney, da da da da da da, the Sweeney.

the Sweeney.

"Initial ballistics tests on the bullet that lodged in a police officer's radio when Mark Duggan died on Thursday night show it was a police issue bullet, the Guardian understands."

http://www.guardian.co.uk/uk/blog/2011/aug/07/tottenham-riots-police-duggan-live

'Word on the street' translates as 'Complete Bollocks'

Someone I know who's an officer with the met just said that there's rioters in Enfield town on his facebook

"Initial ballistics tests on the bullet that lodged in a police officer's radio when Mark Duggan died on Thursday night show it was a police issue bullet, the Guardian understands."

http://www.guardian.co.uk/uk/blog/2011/aug/07/tottenham-riots-police-duggan-live

That is at odds with the initial report that a non-police issue handgun was recovered t the scene. I smell a rat.

What is Trident?

http://yfrog.com/kf4rlauj

Kicking off in Enfield

Gun crime in black cOmmunities? Wtf?

http://yfrog.com/kf4rlauj

Kicking off in Enfield

What Enfield needs is a big fence around it, word on my street says.

http://yfrog.com/kf4rlauj

Kicking off in Enfield

Not HMV! What about all the poor people of Enfield! Where will they get their overpriced CDs and discounted DVDs? Think about the poor shop owners. They're having a hard enough time as it is with MP3s.

http://yfrog.com/gy5n1vfj

So Cameron's big society seems to be working. People across London's under-privileged boroughs are coming out and working together.

Things just got interesting

The Guardian's crime correspondent, Sandra Laville, reports:

The revelation will fuel the fury in Tottenham about the killing of Mark Duggan by armed officers.

It also undermines suggestions that there was an exchange of fire between Duggan and the police before he died.

The bullet which was found lodged in the radio of one of the officers at the scene is still undergoing forensic tests. But reliable sources have said the first ballistics examinations suggested it was a police issue bullet.

These are very distinct as the Metropolitan Police uses dum dum type hollowed out bullets designed not to pass through an object.

The early suggestion from the IPCC was that the Met officers had returned fire after someone in the minicab opened fire. But the result of the ballistics early test suggests both shots fired came from the police.

Yeah, Green and Grey gangs were promising on Twitter not to stab each other today.

You follow gangs on Twitter? I follow Stephen Fry and Brian Cox :(

Not me, kids. They're kinda involved.

But the result of the ballistics early test suggests both shots fired came from the police.

OMG! OMFG!! Let's loot Evans!

No riots in Brixton:
From Twitter: (Riot) Pictures from Brixton are from Shine Music festival, its not a riot contrary to what many want to believe/hope for.

Tweeting gangs. Fuck my slippers.

http://twipho.net/#enfield

So Cameron's big society seems to be working. People across London's under-privileged boroughs are coming out and working together.

Excellent !