Posted on 07/30/2011 10:06:14 AM PDT by MontaniSemperLiberi
Thanks to object reviews, the bluff has been or is being called.
To suggest that Social Security will not be paid.
The analogy: you have $100 in bills and only have $90. Which bills do you pay?
Agreed. The threat to the bonds is wholly related to the inflation in the supply of the currency with which they will be redeemed. Someone needs to teach those in Congress who cannot grasp this, that the Laws of Supply & Demand apply here, just as with every other market phenomenon.
Ratings Agencies are like the fake “Fact-Check.com” websites. They all work for the Bankers. Ha Ha Fools!
What really I am bothered by is how minuscule the proposed cuts are. Boehner’s bill cuts $900 Billion over several years in future, and the Reid bill cuts $2.7 Trillion over 10 years but is a phony number since it includes savings by ending middle-east wars!
Then I look at the current YEARLY deficit of $1.5 Trillion and with Obamacare coming on line next year, spending will only increase.
Lastly, when Washington says they are cutting, they never mention that baseline budgeting has built in 7% yearly increases. Which means if you cut 1% it is actually a 6% increase!
Only reason stock market is doing OK is because most major companies are now doing business worldwide and they benefit from growing economies in Asia. US retail sales are abysmal.
What you said!
An honest objective ratings firm would have already downgraded us. And rightly so.
Hell, I wouldn’t loan money to us!
Unfortunately, partly due to the Dems, the private sector is shrinking.
Maybe at some point in the future, we can correct the nose dive. We are Americans, after all.
And exactly what we need... a swift kick in the pants.
Better now when we can do something about versus when we are so deep in hock that we have to start selling everything to pay off our debts.
‘Moody will do anything to support getting and keeping the communists takeover of America.’
A company which receives ALL of its income from private financial securities supports the complete abolition of its own income. Very funny!
‘he who hath the printing press gets AAA rating....always!’
You mean like the governments of Greece, Ireland, Iceland, and Spain, all of which have government printing presses printing currency, and none of which have an AAA rating?
Their problem is not excessive printing, it is excessive borrowing. IOW “DEBT”!
Just like us.
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