Words out of my mouth, about transparency.
On the one hand, publicly, the administration has said the S and P issue is not a major issue. But privately they are trying to manipulate the judgements made by S & P.
Interesting................
Panic. He knows what is coming.
Totalitarians always need an enemy.
Shocked, I tells ya.
The United States, is this decades Enron.
The PPT is working overtime.
This seems patiently illegal!
The Obama administration privately urged Standard & Poor’s in recent weeks not to lower its outlook on the United States — a suggestion the ratings agency ignored Monday, two people familiar with the matter said.
The Forked-Tongue-In-Chief didn't use the right words when talking with S&P. It's not about the deficits, it's about the debt. China is in a panic, saying that the United States needs to "protect" its creditors -- or, in other words, people who hold our current debt. Like a person who has reached the credit limit on all the credit cards, it's a very unwise person who gets yet another credit card -- assuming he/she can find a credit card company willing to do so. You put together a plan to pay back the debt, and you start paying down the principal as well as the interest.
Mr. President, when will we reduce the principal on our existing debt by one dollar? When will we scale back our spending beyond our means? How do we get this started in 2012, not 2022?
Mr. Speaker of the House, same question
(An aside, if presented with the same arguments, I'd ignore the suggestion, too. Standard & Poor's reputation is tarnished enough as it is, so they can't afford to white-wash the problem. Truth. Handle it.)
Silver is past $45/oz today, up 250% from one year ago.