Tuesday, August 9, 2011
USA Credit Downgrade: Ya Been Hoodwinked
The FIX is in!
Check it out.
The same people that caused our recession and economic crisis by:
inflated grades of mortgage-backed investments -- paid for by the banks that created the toxic debt
Have now decided to downgrade the credit rating of USA to AA from AAA. This move has created panic in world markets from Asia to Israel to Europe.
The critics are quick to yell foul:
Standard & Poor’s, the rating company that downgraded the debt of the United States to AA+ from AAA for the first time, now finds itself assailed by investors led by billionaire Warren Buffett for making a political decision that has more to do with Tea Party politics than the financial stability of the U.S.
I am no financial market wiz - and I don't need to be because this was all about politics - but I know game when I see game, and this is game.
This was scorched the earth game. A game when the major players would rather inflict severe pain on our country rather than be healed by the policies of President Obama.
In this game the players want power more than economic stability.
Let's recap this jack move:
1. S&P helped cause the 2008 Economic Meltdown by giving AAA rating to worthless investment packages that were sold to unsuspecting investors in gigantic bundles called hedge funds.
2. These hedge funds, full of delinquent mortgages, went belly up and created a financial crisis that created our Great Recession.
3. Now, this same disgraced, corrupt and fraudulent agency downgrades our credit. Seems to me, they are not happy about causing the Great Recession, they want to create a Great Depression.
S&P is in bed with the GOP/Tea Party and they both want to undermine President Obama and influence the 2012 election; and they don't give a rat's you know what about collateral damage.
I am going to channel my inner Malcolm:
Oh, I say and I say it again, ya been had!
Ya been took!
Ya been hoodwinked!