It was not a good week for the good ole USofA.
Starting with the obvious: The helicopter crash killing 30 elite US combat troops and 7 Afghans on Saturday. Not good a way to start the weekend. The S&P 500 downgrading America’s AAA credit score. Another suck–just asinine–more on that momentarily…
And now Rick Perry is looking like he’s going toss his hat into the ring, and be the newest incarnation of the “God, please save America” presidential candidate.
I love being an American. I’m rather level headed. Perhaps we’re the majority, or the minority. The level headed–right now, I really can’t tell. But I will tell GOP’ers this…if Perry gets the nod, you’re guaranteeing a second term for Barack Obama. In fact, I’ll go all in on that one. Two words. Ron Paul. If you wanna make things really interesting? Ron Paul.
That having been said, I’m ducking out of the political discussion to discuss the latest dip in the American recession. The best of the best said it: This will not be a “V” shaped recession. It will be a “W” shaped recession, hitting multiple lows before recovery. Ah, the irony. Fortunately, there are no other letters that have more dips in them than “W,” so we’ll just have to take it and run with it.
Seriously…
What is up with Standard and Poor’s knocking the United States credit rating? Really? Really!? Talk about ravenous, freaking wolves. If we had raised the debt ceiling considerably, would we have lost that rating? Nah. S&P would have benefited. As it stands, they’re hosed like the rest of us who are paying the price for their misgivings, and one faux-pas after another in the years 2006-2008. Yep. Who checked off on the sub-prime meltdown while it was still “solid” as a AAA security?
And explain to me this: We–I say we…I clearly mean they–put together a deal in which the debt will be paid, and then S&P puts a divot in the U.S. credit? Why not during the slap fight between the TeaPublicans and Democrats, while the President was in the Oval Office offering a continuous face-palm? C’mon!? Who’s running that joint? McGraw-Hill? Oh, right. It is McGraw-Hill.
Probably don’t have to lead you too far to suggest some family ties to the McGraw’s.
It is only fitting that McGraw-Hill stock is down several points since the AA+ rating was handed down to the United States by one of its own companies.
Comments
brooks bayne
August 8th, 2011 - 2:36:18 PM
the credit rating was lowered because of $4 trillion in debt that didn't get cut, not because the debt ceiling didn't get raised! s&p stated that it needed to see america get serious about spending reductions. the gop proposed a plan that would've met s&p's criteria, but dems shot it down. guess who else had their credit rating dropped as of today... freddie and fannie, the two orgs the dems used to back their "everyone can own a home, even those who can't afford it" socialist agenda. i love that the neo-marxist chickens are coming home to roost.
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James
August 9th, 2011 - 12:19:07 AM
The S&P math is off by 2 trillion. And of course the GOP/S&P's boys proposed a plan that would make the rich richer and poor poorer... as they go to church on Sunday and sing, "Let the weak say I am strong, let the poor say I am rich, let the blind say I can see, it's what the Lord has done in me..." And whose watch was the sub-prime meltdown on? I was writing articles about that in '05. Take your blind allegiance elsewhere...
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Carlos
August 10th, 2011 - 6:39:12 AM
The only reason they downgraded the the aaa+ rating was to benefit the majority stock holders of mcgrah hill who Want to separate S&P from Mcgrah hill control,you can bet that those holders are making a huge profit....show how legit S&P is and then sell it off at a profit ? They have been fight with the mcgrah family for months for control !
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