S&P and the USA: "OK, so Standard and Poors has gone ahead with the threatened downgrade. It’s a strange situation.
On one hand, there is a case to be made that the madness of the right has made America a fundamentally unsound nation. And yes, it is the madness of the right: if not for the extremism of anti-tax Republicans, we would have no trouble reaching an agreement that would ensure long-run solvency..."
2 comments:
It has been a long time coming.
It is not just the S+P.
The whole world is wise to this ponzi scheme.
The Fed has the luxury of printing money out of thin air.
Both sides of the aisle are to blame for this.
Is Norquist the president, or is Obusha the president?
Austerity has come to America hard.
The question now is will Americans be able to adapt.
I think not.
Now the main debate will be how much longer does America deserve to be the global reserve currency.
I think, not much longer.
TICK-TOCK.
It really has been coming. There are people in congress who got so arrogant and thought that nothing would happen if we either defaulted or passed legislation around the time that we were supposed to default. It will be interesting to see what happens and how they try to spin it.
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