One of the things that really pisses me off is the amnesia that has struck every single Republican in office or running for office. This economic mess did not start with President Obama’s term; President W created the vast majority of it! Yes, the deficit has grown under President Obama, but that is in large part because he no longer fought the wars off the books like his predecessor. Also, the stimulus package added to it, but it, actually, was not big enough to really work. So, in that, yes, I do fault the President in not going far enough to help out the people, like he did the auto industry and he and W did the financial industry.
Standard & Poor’s, as far as I’m concerned, lost all legitimacy in 2008. They are the ones that gave all of the toxic asset companies triple A ratings. Just because I think S&P lacks legitimacy doesn’t mean a damn thing, however. They decided to keep on with their illegitimate ways and join hands with the Tea Party and wreak further havoc. The ridiculous sideshow those supposed patriots put on over the debt ceiling, which, I might add, gave cover to the rest of those pledged-signing-never-going-to-raise-taxes-Republicans, just gave S&P an excuse. Now look at everything! The markets around the world have gone crazy, like it’s 2008 all over again.
S&P is now acting like a petulant little child. All you had to do was watch the interviews with John Chambers & you could see it in his face that another tantrum was coming. Today, they downgraded Fannie and Freddie. It looks like the state’s bonds are next in their sights. Are they trying to push the US and then, consequently, the world into another Great Depression? I doubt it, but really, they need to get a grip, especially in light of Moody’s and Fitch upholding our credit rating.
I’m not saying that the reasoning behind the downgrade is not true, but so far, the US has not missed a payment. No thanks to the Tea Party and the rest of the Republicans that cower to them. So in reality this stock sell off mess rests squarely at their feet. Jerks! So, the downgrade is based on politics, not finances. Therefore, the S&P needs to back off and reassess.
Being in Houston, I’m just glad the weekend is over, now all of those crazy evangelicals that sponsored Rick Perry’s, Our Governor of the Unnaturally Wide Shoulders, over-the –top day long fast & prazy (pray + crazy = prazy) event have cleared out of town. Bachmann, not to be outdone, attended her own prazy in Iowa. Those two are heading for quite the showdown. She better have a weapon to combat his shoulder pads or she’s done for.
Oh, I saw on a couple of different newscasts that The Donald is thinking of getting back into the race. Why do those networks even give that head-carpet-wearing, attention-seeking, blowhard the time of day?
