Daily Archives: August 5, 2011

U.S. lost AAA rating from S & P – update

By Steve Goldstein

WASHINGTON (MarketWatch) — Standard & Poor’s Friday night downgraded the U.S. debt rating to AA+ from AAA and, while removing the world’s largest economy from CreditWatch, said the outlook was negative. “The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government’s medium-term debt dynamics,” S&P said. “More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook to the rating on April 18, 2011.”

—I am not a supporter of the credit agencies, but they have a good point. The political muscle game wasn’t played out at the right time and with the wrong issue.

U S lost AAA rating from rating agency…

U.S. lost AAA rating from rating agency S&P.

Watch the #NewYorkCosmos v ManU at 2:30PM on…

Watch the #NewYorkCosmos v ManU at 2:30PM on #FoxSoccerChannel live. http://rememberthecosmos read, enjoy and vote

U.S. economy gained 117,000 jobs in July – MarketWatch

U.S. economy gained 117,000 jobs in July – MarketWatch.

This saves the day on Wall Street. Jobs still weak, but this is an encouragement, at least for today. The economy is on the edge of falling off the cliff again, we need good news. The statement of inability from our party leaders in D.C. during the past weeks, didn’t help the cause.

$1.5 trillion under the mattress, no jobs – Video – Business News

$1.5 trillion under the mattress, no jobs – Video – Business News.

There are different theories why these companies are not investing, and questions: Is it a political agenda? What would a “tax-cut” do for this companies? More cash? Would a “tax-cut” really make them invest with such amounts of cash sitting in the bank already?