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Weiss Offers Sovereign Debt Ratings For First Time

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Pillar of the Community
United States
2335 Posts
 Posted 04/30/2011  2:08 pm  Show Profile   Bookmark this reply Add trdhrdr007 to your friends list
I watched part of the video. Didn't see the list. I'd be interested to know how many of the countries that are listed above us are ones that we are currently giving money to in the form of foreign aid.
New Member
United States
25 Posts
 Posted 04/30/2011  2:14 pm  Show Profile   Bookmark this reply Add Collecta83 to your friends list
Not only in foreign aid but mainly tourism. Indonesia-think about the wealthy British and Americans who spend money over there AND naval aircraft carriers that hold 5,000+ men and women. And Mexico...lol well I don't need to go into depth on that one. The last and only time I've ever traveled down there, there were so many hotels and homes being built all derivative of wealthy Californian entrepreneurs...and possibly drug lords.
New Member
United States
25 Posts
 Posted 04/30/2011  2:15 pm  Show Profile   Bookmark this reply Add Collecta83 to your friends list
But your comment, trdhrdr, makes me wonder when WE'RE in a crisis, how many countries will come to our aid? I don't recall much help when Hurricane Katrina came about. From what I remembered, all the money towards the efforts were made by Americans. When are we gonna learn?
Pillar of the Community
United States
931 Posts
 Posted 04/30/2011  2:19 pm  Show Profile   Bookmark this reply Add junior e to your friends list
The US is in big trouble. They are running the presses 24/7 to reduce the value of our savings. The only hope we have is to back up a good portion of our savings with gold and silver. The mint doesn't have nearly enough silver to come close to meeting demand. Now is the time to make a big move and I'm making it. Government employees are retiring with pensions that are twice as high as they were making while working. All of them are retiring when they're 50 years old and the rest of us are going to end up scrounging until we're 75 because they're going to have to move our retirement dates back so they can afford to properly give government employees a BIG FAT PENSION. I've been angry for years, but it is coming to a head now. The government is forcing us to risk our savings in the precious metals markets just so we can hold the value of the savings that we slaved for for decades. It's just disgusting to see what has become of our once great nation.
Pillar of the Community
Canada
1733 Posts
 Posted 04/30/2011  2:26 pm  Show Profile   Bookmark this reply Add Ugly to your friends list
Actually Collecta83, your neighbours in Canada made a fairly heavy response in terms of real relief to Katrina.

http://en.wikipedia.org/wiki/Canadi...cane_Katrina
New Member
United States
25 Posts
 Posted 04/30/2011  2:58 pm  Show Profile   Bookmark this reply Add Collecta83 to your friends list
I was using Hurricane Katrina as an example and not sure how you would take this, but we scratch Canada's back and they scratch ours. Sharing borders has that effect and it's sometimes hard to envision Canada as another country-I view it as an extension of the United States (minus the health care differences). But thank you for your help nonetheless.
Pillar of the Community
United States
759 Posts
 Posted 04/30/2011  5:14 pm  Show Profile   Bookmark this reply Add OneBowl to your friends list
Sorry, anybody who ranks the Philippines higher than the US loses credibility in my mind. Now the guy may technically be correct given the selectively small slice of governmental data analysis performed by their proprietary methodology, but let's not read too much into an obvious grab for eyeballs. Believe me from first hand experience, despite being one of the most beautiful archipelagos in the world with some of the nicest people on the planet, you don't want trade a median income life here for one there. That said, the US does need to get its fiscal act together and that's up to the politicians, not exclusively the Fed.
Pillar of the Community
United States
4008 Posts
 Posted 05/01/2011  12:03 am  Show Profile   Bookmark this reply Add Ed_B to your friends list

Quote:
In a release they call "the most important press release of my lifetime", Weiss research rates debt by governments (treasury bonds and the like), and puts the USA 33rd among 47 rated countries with a "C" rating, just two notches higher than junk. - BiggFredd

Wow... that is indicative of a pretty sorry state of financial affairs in this country.
Pillar of the Community
United States
4008 Posts
 Posted 05/01/2011  12:05 am  Show Profile   Bookmark this reply Add Ed_B to your friends list

Quote:
Sadly, they made their money OFF THE U.S.! - Collecta83

If they made it via trading with us, then they earned it. If they made it via International Welfare... er... Foreign Aid, then shame on US for handing it over.
Pillar of the Community
United States
4008 Posts
 Posted 05/01/2011  12:09 am  Show Profile   Bookmark this reply Add Ed_B to your friends list

Quote:
They are running the presses 24/7 to reduce the value of our savings. - Junior

While that IS one of the results for this activity, I really doubt that this is their reason for doing it. Remember... politics IS a game and it DOES have a few rules. Chief among these rules is that they need to tick off the least number of people while still gathering the max in power and money. Those who forgot this basic rule got hammered in the 2010 election... and that was just for openers. Just wait until 2012. They ain't seen nuthin' yet!
Pillar of the Community
United States
3670 Posts
 Posted 05/01/2011  12:32 am  Show Profile   Bookmark this reply Add Silverhawk74 to your friends list
You almost gotta wonder how one nation with a debt figure so high that most people's brain can't even comprehend the number, could get a passing grade of a C, even with other country's ahead of us like Indonesia and Mexico....
Rest in Peace
United States
9104 Posts
 Posted 05/01/2011  06:55 am  Show Profile   Bookmark this reply Add biggfredd to your friends list
Weiss has said that most of the comments on his blog are people saying they think they rated the US way too high in the rankings.
Pillar of the Community
United States
1026 Posts
 Posted 05/01/2011  08:05 am  Show Profile   Bookmark this reply Add Brucec to your friends list
Junior e

Know where your frustrations are coming from BUT have to chime in here "Government employees are retiring with pensions that are twice as high as they were making while working. All of them are retiring when they're 50 years old"

Being a retired government employee and Marine I must correct you.

99.9% of the old Civil Service workers who could retire under the old retirement system had to have 30 years of service and be 55 to retire on 75% of there income at the most - there health insurance and that takes away $400 to $450.00 per month from their pension. Anyone that started to work for the government or civil service after think it was 1985 they are under the social security system just like everyone else.

Do not place 99.9% of the civilian government work force to the Washington Mafia of our elected representatives class as they only represent 1% of the government employees. The government employees are just like everyone else and for the last two years not getting any cost of living expenses and probably never will again. They are just as mad at the Washington representatives as you.

MY HUGE government civil service pension is $600.00 per month and I made allot more than that when I was working. If I were also not retired from the Marines and collecting that retirement pension also I could not live on my HUGE government pension.
Edited by Brucec
05/01/2011 8:41 pm
Pillar of the Community
United States
4008 Posts
 Posted 05/01/2011  7:50 pm  Show Profile   Bookmark this reply Add Ed_B to your friends list

Quote:
You almost gotta wonder how one nation with a debt figure so high that most people's brain can't even comprehend the number, could get a passing grade of a C, even with other country's ahead of us like Indonesia and Mexico....

You got it, Silverhawk. Very few people really can grasp a number like a trillion or even a billion. I used to explain it to my students this way: A part per billion is one second in about 31.5 years and a part per trillion is one second in about 31,500 years. People can relate to things like seconds, minutes, and hours but throwing around numbers with 9-12 zeros in them doesn't exactly ring any bells.
Pillar of the Community
United States
4008 Posts
 Posted 05/01/2011  7:58 pm  Show Profile   Bookmark this reply Add Ed_B to your friends list
Bruce... thank you for your service to our country. It really is appreciated by many of us.

I understand your frustration with DC. Many state and local government workers are just as frustrated with DC as any of the non-government employed public. One big difference is that most of us are not saddled with a bunch of unfunded mandates and other job requirements from DC and then criticized for not doing the job of handling that mess as well as was expected. My folks used to work for the State of Oregon. They both had a lot of comments to make on just how much more difficult than necessary their jobs had become because of the dumb things that they were required to do by federal law. The list was virtually endless.
Edited by Ed_B
05/01/2011 7:59 pm
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