A blunt warning Monday from a credit rating firm about the U.S. government's mounting debt pushed stock markets lower and intensified political divisions in Washington about how best to tackle growing deficits.
funny how these rating agencies work, just looking back at the implosion of the housing bubble and near-fatal collapse of the big wall street banks: these rating agencies were clueless. the mortgage based securities that were rated AAA, investment grade when they were unloaded on pension funds and foreigners were pure, unadulterated bullshit, and the guys who were flooding the market with this garbage were doing god's work... and the rating firms simply collected their fees and pretended all was just groovy.
so someone please explain to me why these frauds should be take so seriously today?
of course, the US' financial house is seriously out of order, but far be it from these clowns to propose some bitter medicine for the wall street crowd to choke down -- in the spirit of shared sacrifice, of course...
when it comes to any of those nasty, unpalatable cuts, let's not take it out of the hide of the too-big-to-fail, military-industrial, tax-loophole and bloated government-subsidies interests... it might spook the markets if the big wheels have to curtail their taste for extravagant lifestyles, and wreckless, no-fault investing strategies.
indeed, this will be made out in washington as a clarion call to -- what else -- give the markets your social security money! what could be easier than stabbing working people in the back, to make good on the worthless promises made by the fabulously wealthy.
donald trump comes to mind.
since the street and all the big-money insiders are the ones who created this whopping sack of financial shit, let's not do the heavy lifting for them this time. what do you say?
it's a load that you affluent motherfuckers should take a turn with -- at last. they say that the cream rises to the top, so why not the bullshit too?
and we can let mr. everyman, barack obama, with his paltry $1.7 million take-home in 2010, take the first turn at hoisting the turkey he's done so much to plump up in the past two years...