us credit downgrade implications for ssn?, page-3

Hi drwho181,
funny how a forum such as Ego, not renowned for it's high level of intellectual postings, can have a thread started on the implications of the US credit downgrade. Yet, SSN which is known for a high level of intellectual postings on HC; is drilling for oil in the US and has recently moved itself to the US......has no discussion. Strange indeed. Maybe everyone is feeling like the proverbial 'stunned mullet'? Or should that be 'stunned Wallabies'?

Anyway, watching BCC world news, some of the main points being mentioned over there are:

A ratings agency that did not come out of the GFC smelling of roses, has too much power to be able to state 'an opinion' (that's all it is - watch 'Inside Job' on Dvd) that will have significant effects on the world's most powerful nation.

Obama and the other Politicians in the US have been badly damaged by this downgrade and some will find their political careers are over, once the US citizens have the chance to pass their 'opinions' - via the ballot box.

The UK - which famously refused to surrender it's currency to the Euro (unlike Germany) is almost smirking with delight, as it can see money pouring into it's currency and economy from Monday morning UK time. This is because the UK still has a AAA credit rating and is a major world financial centre.

So, seeing as Australia still has a AAA credit rating, some people are stating we could find we get the same kick along from Monday onwards, as people pull money out of the US.

It's going to be another interesting week on the world share markets next week, that's for sure.

As far as my investment in SSN is concerned, I am in for the long term, so it does not make a lot of difference (at this stage anyway) to me if the world share markets continue their panic mode reactions. Oil demand will (and is) going to continue to rise, despite the best efforts of Govts and various corporations to manipulate the price downwards.

Those are my thoughts on it for the time being.

All the above is my personal opinion. DYOR.