Posted on 01/13/2011 11:34:21 AM PST by SeekAndFind
In the heady, bubblicious days leading up to the financial crisis, the major credit-rating agencies were asleep on the job — which is exactly what one would expect from a federally protected cartel. They are neither the brightest lights nor most conscientious souls in the financial universe.
So when Moody’s and Standard & Poor start making panicky noises about U.S. public finances — as both did today — then it is time to fire up the klaxons of alarm across the fruited plain. If it’s bad enough to get the attention of these incompetents, it’s bad. From the WSJ:
Moody’s said the U.S., Germany, France and the U.K. still have debt metrics, including the debt affordability, compatible with their triple-A ratings at Moody’s. But all four countries must bring the future costs arising from pension and healthcare subsidies under control if they “are to maintain long-term stability in their debt burden credit metrics,” Moody’s said in its regular triple-A Sovereign Monitor report.
Moody’s noted that measures were recommended by the U.S. National Commission on Fiscal Responsibility and Reform, appointed by President Obama, to achieve a balanced primary budget by 2015, but that there was insufficient support to trigger consideration of those recommendations by the full Congress.
If you think the 2008 financial crisis was bad, ask yourself this: Who is big enough to bail out the United States? Answer: Nobody.
Note to Washington: If you thought the Tea Party looked like an angry mob, wait until you see what happens when Social Security checks start bouncing.
We all know that this is spin from Moody’s. They have been talked to by officials in all these countries to hold back on what should have happened already, the US and the others losing its rating.
The panic that would set in globally if this occurred already would send things spiraling out of control.
Zer0 et al will find a way to kick the can down the road..... again.
Slaves don’t have Opt-outs.
Ponzi scheme victims have more rights.
RE: Why they hell can’t I opt-out of Social Security since it won’t be there when I retire?
Because you will be arrested for it. Government is all about FORCE and COERCION.
AS Gerald Ford warned :
““A government big enough to give you everything you want, is strong enough to take everything you have.”?
Read more: Who wrote, “A government big enough to give you everything you want, is big enough to take everything you have.”
Ruh Roh.
and why shouldn’t we lose that aaa
rating? If an individual lived as our government does, their rating would drop hard.
Old School political discourse...
All I ask is that we set aside enough money and/or credit to pay for all the rope we’re going to need.
No.... as long as my country is being attacked, from within, by these corrupt bastards, I WILL NOT tone it down.
The outcome of World War III will be chosen by bean counters.
So its time to sell off Washington to pay our debts, if we give these know nothing crooks to spend more they will, just fire 2/3 of all federal government workers, close down entire departments until we can pay and be out of debt..do it now!!!!
What do we owe? I’ll write a check...
Or all those EBT "food stamp" cards don't get refilled on the 1st of the month. Certain neighborhoods in large urban centers will go up in flames.
I've got a pretty good seat in my backyard if anyone is interested in watching the west side of Chicago burn. We'll smoke some cigars, have a couple of fingers of scotch, and load magazines.
RE: I’ve got a pretty good seat in my backyard if anyone is interested in watching the west side of Chicago burn. We’ll smoke some cigars, have a couple of fingers of scotch, and load magazines.
Jut hope you are physically far, far away from the scene when it happens :)
RE: What do we owe? I’ll write a check...
According to this site :
The debt per citizen at this time of my post is : $45,000
But since not all citizens are tax payers, the debt per tax payer is close to $127,000 ( rounded ).
BTW, the above figures are moving so by the time you read this, it will have changed ( UPWARDS ).
We could start saving by withdrawing our forces from Afghanistan and taking all our violent felons in prisons and air dropping them in. A can of spam, a 22 w/2 clips, and a canteen. Whoever gets osama can come home.
Because it's not meant to be a retirement vehicle for you or me or anyone else. It is Washington's private slush fund. Now keep putting your dough in, keep your eyes on your shoes and move along. Our overlords know what's best for us.
That will make it harder to borrow.
Say....you do know how to have a good time.
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