Posted on 03/28/2010 12:17:48 PM PDT by Conservative Coulter Fan
The ONLY real question is how long does the government last at Aa and A before falling to Baa? Or does it tank all the way to Ba (only 0.8% of municipalities get Ba ratings)?
Yep. Governments first finance their operations by taxing the present. Then they tax the future by borrowing. Finally, they tax the past by inflating the currency (sapping the value of money that you have earned in the past). We have made more promises than we have money to meet those obligations. The government could seize wealth in order to cover their spending, but you can’t do that forever. I don’t see any other future but a collapse of the dollar if we continue down this path.
I’m going to have to stock up on my maps from AAA while they’re still around.
Lets hope so. As soon as America falls flat on its face primarily due to Obama’s anti-american policies, the sooner we can build ourselves back together, stronger than ever.
Why would anybody trust Moody’s to rate anything anymore?
I think that this fascist administration is putting great pressure on the ratings companies to not lower the rating...
A trillion dollars will be a rounding error before this is all over.
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