AAA-rmageddon: S&P downgrade knocks off US credit crown (Videos)
2011-08-07 0:00

From: YouTube.com


"The United States’ prized top AAA credit rating has been cut for the first time ever. Standard & Poor’s has dropped America’s ranking to AA+. The destructive force is the crippling debt which Congress has struggled to agree on how to tackle, with only an 11th-hour deal to raise the amount allowed. S&P says that’s not enough - and falls far short of what’s needed to stabilize the government’s runaway borrowing. But the Obama administration says the analysis is way off, and will damage any recovery."


Video from: YouTube.com

"In the past week alone 2.5 trillion dollars have been wiped off the value of global stocks.
That is why world leaders and policy makers have been scrambling over the weekend, trying to find a way out of the turmoil on the international markets caused by the debt crises in Europe and the United States."


Video from: YouTube.com

"Conflicting and confused messages from Europe’s policy makers have raised concerns that next week may worsen the eurozone debt crisis.
Fresh worries over Europe’s bailout mechanisms this week hastened fears of another recession and saw stocks suffer their heaviest losses since 2008."


Video from: YouTube.com


"European finance ministers have expressed confidence in the US economy, in spite of the country’s credit rating being downgraded for the first time in history.
However, China - which holds the vast majority of US debt - is far from happy.
Leaders there have criticised what they called Washington’s "addiction" to debt. "


Video from: YouTube.com




Recession or Depression?

Economy Caught in Depression, Not Recession: Rosenberg (2010)




Related Articles
Finland in double-dip recession
Sweden unexpectedly slides back into recession
Even BLS Admits Birth-Death Model Skews Unemployment Numbers During Recessions
Death in the Recession: More Bodies Left Unburied
Recession is the birth pangs of a New Global Order, says Brown
Soros predicts worst recession for 50 years
Economic Expert: We Are Already In An Engineered Recession
Celente: Dollar not worth its paper, Greatest Depression up ahead (Video)
Top Retail Analyst: "What’s Going On Is That We Are In A Depression For 80% Of Americans"
Yastrow: “We Are on the Verge of a Great, Great Depression” (Video)
IMF warns over parallels to Great Depression


Latest News from our Front Page

Israeli spy Jonathan Pollard to be released in November
2015-07-29 23:25
Parole board decides to release convicted spy after 30 years; Israeli officials deny claims that development is linked to the deal with Iran over its nuclear program. A federal parole board has ruled that Jonathan Pollard, a former US Navy intelligence officer convicted of spying for Israel, will be released in November after serving a 30-year prison sentence, his attorneys said ...
Swedish University removes all portraits and busts of White Male Professors
2015-07-29 23:51
Portraits and busts of all the “white male professors” have been removed from the part of Stockholm University, Sweden, which is dedicated to the study of Law. Not only have they be removed, but they have also been replaced by artwork which apparently promotes “diversity”. One of these is a drawing of a moose head colored with a rainbow. Dean of Stockholm University, ...
40% of Palestinian Children Detained by Israel Are Sexually Abused: Virtually All Are Tortured
2015-07-29 22:52
According to a new report by the independent, non-governmental, human rights organization the Palestinian Prisoners Club (PPC), at least 600 Palestinian children have been arrested in Jerusalem alone in the past five months. Of these, roughly 40% were sexually abused. PPC attorney Mufeed al-Haj notes that this horrific, grotesque abuse is not the only crime of which the Israeli military is ...
Barbara Lerner Spectre On Twitter!
2015-07-28 23:04
Kevin MacDonald writes in 2010: In the video below, Barbara Lerner Spectre, who runs a government-funded Jewish study group in Sweden, makes the following remarkable statement—remarkable because she does not attribute anti-Jewish attitudes to irrational prejudices or even Muslims who hate Israel. Instead she says that it’s because of the “leading role” played by Jews in the movement toward multiculturalism: “I think ...
Sweden investigating underwater wreckage as possible Russian submarine
2015-07-28 20:38
What may be the wreckage of a Russian submarine is seen off the coast of Sweden The Swedish military is studying a video taken by shipwreck hunters who say it shows a wrecked submarine, just off the country’s eastern coast, which appears to be Russian. Ocean X Team, the company behind the discovery, said on its website: “It is unclear how old ...
More News »