Stock Market Drop Not Caused By Credit Rating Downgrade?

Was the huge stock market drop on Wall Street caused because S & P downgraded the U.S. credit rating? Cenk Uygur sets the record straight. The Largest Online…

25 thoughts on “Stock Market Drop Not Caused By Credit Rating Downgrade?

  1. crankCINEMA

    @A86 multi-national corporations of today they are still a better bet for
    creating jobs, because the politicians honestly care less about employment.
    Employment to them is just a number they can fling around during an
    election to make themselves look good, employment to an organisation is the
    most important tool for making a profit. Organisations care more about
    making a profit than a politicians does about the common man they claim to
    represent. Deal with it, its your only plausible option.

  2. crankCINEMA

    @CmdrTobs And where does it say in the capitalist equivalent to the
    communist manifesto that you need to kill people either? Great argument you
    got there. Just keep on rejecting the thinking that has done nothing but
    improve the world, keep on going. Lets just throw democracy out the window
    because its not that efficient while where at it…. Who really sounds
    crazy here? I’m not even on the ‘right’, I’m just using logic, I’m as
    jealous of the rich as the next person don’t worry.

  3. Jose Martinez

    The Dow is below 10,800. Maybe Obama can come out and make a speech to calm
    investor. The last time he did that the DJIA nose dived over 200 points.

  4. tomitstube

    @Happyfewl ~ uhm, if you invested in the american stock market you would be
    losing your shirt right now, or maybe that car you bought. what people are
    investing in is u.s. treasuries, the american government, not private
    companies. the ratings agency downgraded the u.s. government but investors
    (apparently not you) are ignoring this. they are selling private stocks to
    invest in government bonds. oops.

  5. A86

    @crankCINEMA – I’m no fan of the Soviet system but using how many people
    die under a system is a weak argument. In its 300 year history capitalism
    has killed more people than either Stalinism/Maoism or Fascism/Nazism. Does
    that mean any capitalist country is doomed to mass murder? And there are
    countries that had Marxist systems or governments at some point with no
    mass murder. BTW, the Holocaust killed 13 million people (not including the
    other Nazi-related deaths of WWII) in just 12 years.

  6. hellahotdude

    he needs better logic and economic knowledge. you have to understand the
    numbers not just cite them.

  7. rockaholicsrecords

    @1ironaut : hm, if people are to only survive – but not to live what’s the
    point ? why ‘d people trade skills ? the point is, that money instead of a
    means of barter, became a self contained value and people treasure it-
    instead of using it 😛 it’s the old production vs demand, idea. if one
    could budget on an almost global level… & gather all the big “heads” and
    industry arms together it might just might just work. create, what you
    would create otherwise, under one “authority” & distrib it.

  8. stoicsquirrel

    @bluesenshi When you raise the minimum wage businesses offset the cost by
    raising prices or cutting back hours. If you’re a kid working a minimum
    wage job, tough, you’re a kid with no skills. If you’re 30+ making minimum
    wage then you should have planned ahead and went to school to learn some
    sort of trade. Raising minimum wage will only screw the middle class. We
    make just enough that any COL increase screws us. It helps the young and
    uneducated only. It fucks the middle class every time.

  9. CmdrTobs

    @crankCINEMA What taxes? And how much? You do realise corporations aren’t
    paying tax for nothing. It’s spent on things they NEED for business. Why do
    you think Wallmart isn’t not a hit in Kenya, Uganda? The people in somalia
    e.g desperately demand cheap goods. I have been to east Africa recently and
    the stores are expensive and there’s no Wallmart…. Why? Because
    government hasn’t splurged on a massive interconnected road network for
    wallmarts import -> truck -> superstore model to work.

  10. stoicsquirrel

    @temujin1234 That’s the point, though. If the government would quit wasting
    money, there would be no need to raise taxes. I’m not saying “starve the
    beast”….but we do need to stop it from getting so fat.

  11. Alvin H. Davenport

    @bigassprick Ron Paul is not corrupt or dumb, but his policies are the last
    thing this country needs right now. Under Ron Paul, this country’s middle
    class and especially lower class would be going to HELL. Under Ron Paul
    there’s not a chance of paying off our debt (since he adamantly opposes
    increased taxes for ANYONE) unless we brutally slash medicare/medicaid and
    thus fall into a deeper healthcare-crisis hole. NO Ron Paul yet, please.

  12. ninuxy

    It’s the fucking European market and banking industry. They are at the
    precipice like we were in 2008. That’s why all the hedge funds that
    invested in wrong trash are panicking and that itself is precipitating a
    rally of up and down. This is what casino capitalism is all about. Now vote
    these Teanuts out in 2012 and save yourself.

  13. A86

    @crankCINEMA – Profit can be easily obtained by cutting salaries and laying
    off workers and having the remaining workers increase hours to make up for
    the slack. This is why US worker productivity has gone up since the late
    70s but income hasn’t in real dollars since the early 80s for most people.
    “that point can be reached with less taxes” The taxes are already low; and
    what are supposed to do? Offer lower rates than third-world countries? Tax
    cuts should only be given for results.

  14. kamphwagon1

    @tomitstube That and the greek debt crisis is having a domino effect in
    euerope. the GOP/Teatards don’t seem to have a inclination on how our
    captoilst economie works ,as youv’e stated it’s heavly dependent on
    consumption and the goverments tax base will suffer .When the average joe
    isn’t working ,he isn’t spending if he dosen’t spend the people whom sell
    make and distrubute the goods he spends for will suffer.. A captiolst
    system is subject to it’s own domino efect when it ‘s economie contracts

  15. A86

    @crankCINEMA – The conflict of interest being that it’s just cheaper to
    higher peasants overseas instead of the working class in the companies’ own
    country. Anyways, on what are you basing this claim that any alternative
    system would have an “imminent much more devastating economic downturn”?

  16. crankCINEMA

    @CmdrTobs The ideals held by communists were the same ideals held by
    Russians who starved 8 million of my people (Ukrainians) to death in the
    1930s. In a completely different discussion communism also fucked China up
    the ass and then 20 years after China basically becomes Capitalist they are
    running the world. From their point of view and from most Americans,
    capitalism has led to unbelievable prosperity. Now are you saying that the
    British Empire is bad as well?You really hate any form of power

  17. stoicsquirrel

    @temujin1234 Uh, nope. If we went back to the Clinton tax rates for the top
    bracket,and just using that extra revenue, it would take a decade just to
    pay off Obama’s stimulus package.

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