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Orange Blooded [2522]
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Ultimate Clemson Legend [108820]
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We lost it long ago. Moodys is just the last to downgrade us.
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May 17, 2025, 8:22 AM
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It was a known farce with them keeping it so high.
And credit rating agencies are corrupt anyway. They had trillions of bad mortgages and MBS rated AAA. Don't know why anyone pays much attention to them but people still do.
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Ultimate Tiger [33323]
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Re: US loses perfect credit rating
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May 17, 2025, 9:23 AM
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Austerity is coming sooner or later. There are two choices - 1) deal with it in a way in which we can control it or 2) allow it to happen in a way that is out of our control, like a currency crisis.
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Clemson Icon [27279]
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Re: US loses perfect credit rating
May 17, 2025, 10:05 AM
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Maybe we should eliminate taxes on the wealthy. The lower the better in the wealthy supposedly, so maybe we should just eliminate taxes for anyone making over a million per year.
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Ultimate Tiger [33323]
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Re: US loses perfect credit rating
May 17, 2025, 10:43 AM
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You could take all of the wealth from all of the billionaires in the US and reduce the debt to around 30 trillion.
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TigerNet Champion [121407]
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Re: US loses perfect credit rating
May 17, 2025, 1:02 PM
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that is a start, but it has been 4 years of bad behavior to get us here and most of their wealth is speculative, like Musk, he is not worth 400 billion, more like 80 when TESLA comes crashing back to reality.
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TigerNet Champion [121407]
TigerPulse: 100%
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Re: US loses perfect credit rating
May 17, 2025, 1:02 PM
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40 years
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Paw Master [17321]
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Athletic Dir [1155]
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Re: US loses perfect credit rating
May 17, 2025, 1:12 PM
[ in reply to Re: US loses perfect credit rating ] |
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After Shitzenpants starts a war with China and voids the debt they hold (in order to declare martial law and stay in power), the debt will only drop about 1 trillion. We still have over 3 years until that scenario, though. Plenty of time to convert dollars to euros.
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Athletic Dir [1155]
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Re: US loses perfect credit rating
May 17, 2025, 1:17 PM
[ in reply to Re: US loses perfect credit rating ] |
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A lot of that wealth, especially in equities, is inflated because of artificially low interest rates. Tesla is an extreme example, but even Apple would be selling for much less if interest rates were steady at historical norms of 5-7%.
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Athletic Dir [1155]
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Re: US loses perfect credit rating
May 17, 2025, 1:35 PM
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Point is, in the not-to-distant future, interest rates will have to rise unless Shitzenpants and company stops increasing the debt by leaps and bounds (10 trillion his first term, looking to be 15-20 trillion this time if he gets his way). If we get a good recession that depresses prices for a time, I'm buying more cropland and timberland. They stopped making them some time ago.
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Starter [288]
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Re: US loses perfect credit rating
May 18, 2025, 6:11 PM
[ in reply to Re: US loses perfect credit rating ] |
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Eliminate taxes on people's income and property. Go to some form of consumption based tax.
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Paw Master [17321]
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Odd how you are so mad about cuts.***
May 17, 2025, 11:51 AM
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Tiger Spirit [9404]
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Re: US loses perfect credit rating
May 18, 2025, 5:58 PM
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36 trillio in debt prolly ain’t helping!
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