US Credit Rating....tick..tick..tick

[Whirlaway]

The English FTSE 100 was off 2.1% to 5,870, the French CAC 40 fell 2.4% to 3,881 and the German DAX slid 2.1% to 7,027.
In Asia, the Japanese Nikkei 225 edged lower by 0.36% to 9,556 and the Chinese Hang Seng slipped 0.74% to 23,830.

[charlestudor2005]

I'm just one dude trying to eke out a living. What do I care about the credit rating? There's nothing I can do that affects it. Even my piddly vote has no effect.

[Whirlaway]

I believe in what Edmund Burke had to say about that POV.......

[charlestudor2005]

.

The statement that "The only thing necessary for the triumph of evil is for good men to do nothing" is often attributed to Burke. Burke never said this but, in 1770, he wrote in Thoughts on the Cause of the Present Discontents that "when bad men combine, the good must associate; else they will fall, one by one, an unpitied sacrifice in a contemptible struggle."

[Whirlaway]

Whatever, whomever, whenever; to say "there is nothing i can do" is a dodge from accepting responsibility and worse, accepting the status quo.

[gnadfly]

Originally Posted by charlestudor2005

I'm a Democrat, what do I care about the credit rating?

FTFY Chuck

To throw more shit into the fan, I got this link today in an email. Like Chuck, I won't tell you how I feel about it, just postin' the link.

http://www.youtube.com/watch?v=4KGlB...&feature=share

[pjorourke]

We are so fucked. We better all learn to speak Greek.

[Guest050715-1]

Originally Posted by charlestudor2005

I'm just one dude trying to eke out a living. What do I care about the credit rating? There's nothing I can do that affects it. Even my piddly vote has no effect.

You should care; we all should care. This is a turning point in American history. The decisions to spend or not to spend now affect the course of this nation from now on. It's not fucking around time. It's as serious now as the Great Depression was then. We were on the brink of Communism then and we are knee deep in fascism now. There is a line drawn in the sand, but what are we going to do about it?

[oden]

Thank goodness that this economy is the most powerful that the world has ever seen. We can stare into the abbys like we did with ole Jimmy Carter and come roaring back; but it's not easy and probably won't be pretty.

[atlcomedy]

I'm waiting for TTH to tell us all how much he lost today ...... ladies (even pros) hate a loser

[WTF]

Originally Posted by pjorourke

We are so fucked. We better all learn to speak Greek.

I just don't swing that way PJ.

[pjorourke]

How about PIGS

[davidsmith0123]

Charles, you don't have to care, but when the debt rating goes south the interest rate premium on our debt goes north, and with greater interest spending on the existing debt the task of 'balancing the budget' (ha!) gets even harder.

I don't think Americans are morally or otherwise superior to the Greeks, who also did not and do not want to face their budget problems. It can happen here. We seem unwilling to face reality, to do what it takes in situations such as these, especially when our leaders are so willing to play politics with the situation. Nobody wants to step up and present an adult plan with real cuts and, undoubedly, tax increases as well. Instead what passes for a plan is to say we will just "tax the rich" until the budget is balanced. Well, that's not sufficient, but lots of luck with that idea. Here's hoping there is a plan B.

[Randy4Candy]

As has come to light in the past few days (again), personal or corporate income tax for the extremely well off is a joke and has been so for many years. It's just a talking point with no "there" there. There are many ways to argue it, even the point of spending $$$ on accountants and lawyers to avoid paying taxes - hmmm, money out is still money out - it's just personal preference. I suppose an accountant or lawyer is more deserving of the cash than others who are poor, old, whatever. One can argue that and make some valid points.

But, the credit rating "news" is just a way to point out to us who are NOT in DC how nice it would be if Congress got its stuff together and actually did something for the country instead of the interests who own them - R or D.

[Marshall]

Originally Posted by OliviaHoward

You should care; we all should care. This is a turning point in American history. The decisions to spend or not to spend now affect the course of this nation from now on. It's not fucking around time. It's as serious now as the Great Depression was then. We were on the brink of Communism then and we are knee deep in fascism now. There is a line drawn in the sand, but what are we going to do about it?

You are spot on.....only problem is that the radical leftists don't believe there is a problem. They don't believe anything they do can destroy the wealth of the US......The Republicans don't think it's anything more than a public relations problem judging by that $350M budget cut [I want to exclude future President Paul Ryan and a few other patriots from that criticism].....what the radical left can't understand is that when you screw one American [rich, middle class or poor], you screw all Americans.......the radical left loves to turn us against each other with class warfare to deflect criticism from them.....unfortunately, the class warfare tactic appeals to human jealousy and suckers fall for it.........