Happy oops....unhappy days are here again.. Winnebago

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Winnebago is a survivor and their stock price doesn't necessarily reflect on their corporate health and viability.  They have no or almost no corporate debt which is a huge bonus.

The time to buy gold was about $1,000/oz. ago  ;).  The gold brokers are extraordinarily busy creating demand for the metal.
 
I'm holding on to my silver.  Where are the Hunt brothers when we really need them?  If you have food in your stomach and a roof over your head, all the rest is just fluff.
 
after today, it's like a tsunami hit the stock market.  I wonder if congress even noticed.
 
All because of S&P downgrading the US debt rating, based on a $2 trillion error no less.  Incredible.
 
Ned said:
All because of S&P downgrading the US debt rating, based on a $2 trillion error no less.  Incredible.

The 'math error' is a matter of perspective. According to the WH, we (Congress, etc) have promised that spending will not go up as fast as the GDP. Given our history S&P assumed that discretionary spending would rise at 5 percent, roughly the rate of nominal GDP growth (real growth plus inflation).  This, based on our history, may be conservative too. Anyway, the difference in assumptions makes S&Ps debt calculation $2 trillion more that the WH. Since WWII we have not done this for any significant length of time.

I?m very cynical about the ability of politicians not to spend everything they can get their hands on and then some.  I believe the S&P view but I agree that your view can quite legitimately differ. You just trust Congress not to spend your money to gain re-election for Congress more than I do.
 
You just trust Congress not to spend your money to gain re-election for Congress more than I do.

I said nothing about trusting anyone.  Certainly not Congress, and not S&P either.
 
Ned said:
I said nothing about trusting anyone.  Certainly not Congress, and not S&P either.

You caught me assuming. I apologize.

I assumed that since you brought up a $2 trillion error that you trusted the Gov't  projections more that S&P's.

I don't see it as a 'math error' as promoted in the MSM.
 
When the $2 trillion error was pointed out, S&P didn't correct their results, they changed their assumptions from economical to political to let them keep the original results.  Does that sound trustworthy?  The economy would be fine if it weren't for economists :(
 
S&P's political assumption was more valid than their mathematical one. Politicians did more to hurt the country's credit rating than economists.
 
Just another case of "if you don't want to correct the result, change the assumptions".  How can we believe any of it?
 
I find it more than ironic that is was the bond rating agencies like S&P who were mostly responsible for the housing market bust, which is the underlying cause of much of are current financial problems, are now down-grading the country's bond rating.

BTW, I think the down grade is mostly political, just to show who really has the political power in this country.

Paul
 
Boy am I glad I moved this thread out of the Winnebago board  ;D

S&P's downgrade is reflecting an apolitical reality of government deficit spending that has no real end in sight.  This is not about politics, it is all about the balance sheet.
 
I have been trying to find info on our country's bond rating during WWII when the US public debt was 120% of GDP.

Paul
 
John Canfield said:
Lets hope the voters noticed  ;D

And, hope that people are willing to go vote... lots are so angry that they might not...since they have "given up"; I guess anger can run the other way too...vote for sure?  I don't have a clue but the current trajectory is clearly impossible.
 
taoshum said:
And, hope that people are willing to go vote... lots are so angry that they might not...since they have "given up"; I guess anger can run the other way too...vote for sure?  I don't have a clue but the current trajectory is clearly impossible.

Totally agree. As far as voting goes, we seem to have a short memory. How things are closer to election time will be the real issue. What scares me most is that our nation seems as or more divided on many topics--economic, political, religious, etc--than I ever recall. I don't see US coming together to solve the problem.  Finger pointing and blame are counter-productive but currently more prevalent than ideas.
 
taoshum said:
And, hope that people are willing to go vote... lots are so angry that they might not...since they have "given up"; I guess anger can run the other way too...vote for sure?  I don't have a clue but the current trajectory is clearly impossible.

The "historians" are saying it is just like the "roaring 20's" and the transition to the 1930's.  I guess we have to go thru another "Hoover period" before someone will step up and settle the fights.  I figure that we have about 100 years left to figure it out or it'll be all over for the humans.  The humans born this year might be the last of the species...  Now there's a sobering thought. ???
 
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